Magnús Ingvar Ágústsson

CumLaude

Department: Man and Communication
Website: cargocollective.com/magnus-ingvar

Vessel

In a world where cash is fast becoming obsolete and every digital transaction is traceable, what does the future hold? Magnús Ingvar Ágústsson foresees a total loss of privacy. “The value of that privacy is underestimated. Being under constant surveillance leads to self-censorship, affecting your actions. Even digital solutions like Bitcoin can still potentially be monitored,” he says. Using cash remains the easiest way to ensure anonymity. That is why he created ‘Vessel’ – an alternate form of physical payment. Each Vessel bears a unique public ‘address’ online to check if the given value is valid. Designed to function as a traditional currency, it is a response to the very real possibility of a cashless society.