RE: Blockchain revolution: Money and Credit
Good article!
Nice to read about the evolution of currencies and basic pattern and their advantages and inconvenients.
We will see the future of cryptos, but as long as people can't buy their coffee, purchase their food at the grocery or buy clothes online, quite easily, the adoption rate will stay low.
Ex Nihilo money creation
A point that would be interesting to elaborate more is the fact that today and since a while, money is created from nothing.
It started with "orfèvres" (silversmiths), the first bankers, that were storing good for rich traders or boat captains once they trade their good. They started a kind of paper money that was well recognized in many aera and is wass easier to carry than a pocket of gold.
Then at one point they started lending more that what they have in their big safes as no one was asking for their gold at the same time. That way they can charge more fees and interest from borrowers while lenders weren't aware of the trick and weren't really affected. ANd over time bankers become really rich from interest on money they don't really have. Although as a system it was working fine as long as people aren't affraid that their money can't be obtained again.
Today's bank works on the same paradigm, with of course some regulation, but in most occidental countries, when you lend 1000 to the bank, the bank can lend 1000 to 10 new borrowers.
That creation Ex-Nihilo, force the society to continously grow as most of the creationof new ressources goes to the bankers via interest. The new thiefs guild of modern world.
One great initiative I support ine Switzerland (one of the last real democracy in this world) in the initiative Monnaie Pleine. It's goal is to bring back fiat money soveriegnty to a country related entity tied to the goods of people instead of leaving that power in the hand of commercial banks.
Here's my latest article on it that have the link on all previous ones.
Monnaie Pleine : LA question essentielle
There are many angles under which one can look at money. But step back a little and note that the mere fact of us putting money in the middle and then looking at it under several angles is a bit worrying: we are currently spending a lot of our time thinking and discussing about money, we are enthralled, almost obsessed with it. Monnaie Pleine or monnaie vide, who cares ? Why does it matter ? Is it so important ? Why it's so important that we have a "monnaie pleine" ? Take anything else, say ... food for instance! We do think and talk about food in relationship with junk food versus healthy food and the obesity epidemics but is the time and energy spent thinking and talking about food even comparable to the time we spend thinking about money ?
The point of my article is that blockchain enables the comoditization of money creation. Yes, in a sense it might look to you as the very opposite of the "monnaie pleine". Instead of replacing our current fake money - that pretends to be "plein" but is actually empty, "vide" - with an possible utopian "full money", why not complement it with hundreds if not thousands of other "empty money" ? Stop the hypocrisy and the pretense ! There is no full money and the past has taught us that our attempt to create sound money is doomed. Let's step back and take a different tack: accept that money is only "pretend money", banalize money!
Instead of attempting (in vain) to pry the immense power of creating money from the grasping claws of the banks, we have a chance to suck most of the power out of the money creation !
Sounds paradoxal but it would help us cure our obsession and focus better of what really matters: trust !
Because in the end distrust is the root of all money - as Nobuhiro Kiyotaki and John Moore put it in their famous conference paper (catchingly titled) "Evil is the root of all money"
The most important function of money going forward is to serve as a fertile soil for growing trust between people - to allow them to make each other credible promises. Blockchain can do that, let's stop worshipping money
Je vais répondre en français ;)
Vous apportez de bons points, il est intéressant de prendre plus de recul et de changer les paradigmes ou au moins nos angles de vues avant d'envisager ce qui pourrait être mieux pour notre système d'échange en société.
Au final le Dieu argent n'est qu'un concept inventé par l'homme et ses prêtres financiers veulent vaincre avec leur croisade et en prêchant la bonne parole...
J'ai fait un bon article sur la vague d'obésité et les problèmes de santé, je te laisse lire, mais j'en ferai un 2e plus sur l'ensemble des poisons qui attaques nos organismes (pollutions, vaccins, OGMs, pesticides, additifs alimentaires, sucre raffinés, etc.) Merci pour l'idée.
Vague d'obésité déferlant sur le monde
En effet le pouvoir ne devrait pas être dans l'argent, mais dans les choses concrètes, les relations, l'accomplissement de soit, nos actions, etc.
Par contre la culture de la célébrité, de la réputation :a tout prix et de qui a le plus de like est aussi dangereuse... et addictive.
Bonne réflexion.
Follow-up (rather than editing previous comment). You might want to check out this article by @robertgenito