“The best things in life aren’t things.”
Art Buchwald
My reflection this week is on “Forms of Currency.” Currency represents an exchange of value, allowing you to obtain goods or services equivalent to its worth.
Not all currency is equal. In ancient times, currency existed in various forms, such as trade and barter systems, cowrie shells, and commodities. It wasn’t until the 20th century that fiat money became the standard. Fiat money is backed by government decree rather than physical commodities. In the 21st century, digital currency has emerged, with some being backed by fiat (like stablecoins), while others derive value from utility, adoption, user trust, and market dynamics.
Most people, myself included, want currency—lots of it. But to accumulate currency, you must truly understand what it is.
Recognizing that currency extends beyond cash empowers you to build various forms of value as an individual and as a business.
Here are four forms of currency, somewhat interconnected, I recommend you cultivate:
- Integrity Currency: This type of currency is highly valued, particularly in financial transactions. Make no mistake—your integrity is real currency. It can be built without any financial investment and exchanged for cash. Can you be trusted?
- Knowledge Currency: Your knowledge opens doors and gets you invited to important tables. Expertise is always in demand, but it must be genuine. This currency attracts a premium, requiring investment and discipline to acquire.
- Relationship Currency: Many opportunities in life depend on who referred or recommended you. Relationships unlock possibilities, but true connections must be developed, nurtured, and honored.
- Honor Currency: I consider honor to be a master currency that unlocks other forms of currency. It’s a currency that everyone has, but not everyone chooses to apply. When genuinely practiced, it creates real value.
As a person of faith, there’s another form of currency I’ve frequently relied on in my journey: Word Currency. I’ve witnessed God’s promises work for me as real currency in my life and career.
Which currencies do you have? If all you have is cash, you should be concerned. Remember, not all currency is equal, and some depreciate faster than others.
Reflect on this and take action.
Yours in possibilities,
P.S. I’m excited to share a new release from the UNLEASH workbook series: HONOR. Honor is one of the most powerful currencies on earth. This free workbook will show you how to practically implement it in your life. I can’t wait to hear your impact stories from genuinely practicing honor!