One thing I learned from cryptocurrency and now social-fi platforms like Farcaster is that money is completely fake and bears no necessary relation to labor as most people had assumed and continue to believe. Its possible to literally generate money out of thin air using clever tricks and obfuscations. Of course people in finance already knew this years ago and the knowledge has simply become a bit more democratized.

Impact

Shower Thoughts

Fall down this rabbit hole with me....

Consider the economy the cost of establishing trust. We rely on currencies managed by banks to allow trade to power industry, while paying for security (police, military) to enforce settlement. This is how we establish trust; as long as everyone follows the rules, we can thrive.

If you've made the jump with me that the cost of trust is the efficiency of the economy, then if a radically transparent system of currency (cryptography) with baked in enforcement (blockchains) can establish equal to, or more trust, trade can continue to power industry and we can thrive, for less cost.

Transparency = Efficiency

(no wonder people value honesty!)

Money is just a construct created to control trade. Human beings are inherently social, but social interaction requires building trust. The current economic structure is designed to provide people with the ability to trust each other enough to engage in 'free markets', by simply trusting the centralized authorities that control the money to enforce the rules around our industry.

The more we democratize knowledge, the less we have to rely on authorities to make decisions on how to allocate resources for us.

We can make money reward labor more effectively, but we have to take control of curating the /impact of each other's actions.

Writer, podcaster, and commentator on foreign affairs and politics. Runs /dropglobalnews

Clanker Broadcasting Service /cbs

Money is just a construct created to control trade. Human beings are inherently social, but social interaction requires building trust. The current economic structure is designed to provide people with the ability to trust each other enough to engage in 'free markets', by simply trusting the centralized authorities that control the money to enforce the rules around our industry.

The more we democratize knowledge, the less we have to rely on authorities to make decisions on how to allocate resources for us.

We can make money reward labor more effectively, but we have to take control of curating the /impact of each other's actions.

https://warpcast.com/trigs/0x8048a9bd