The Social Currency

Why We Ought to Rethink Money | The Intersection of Bartering, Cryptocurrency, & Financing

De: Cecil C.J. John

Narrado por: Carl Hughes

While watching the popular TV show Money Heist, in Episode 8, Season 2, right at the 40-minute mark, Cecil (CJ) John, the author, had an epiphany. The premise of the show was that a “bunch of losers” broke into the Royal Mint of Spain, seizing hostages with a singular strategy: Stay in the mint for as long as they could so that they could print as many unmarked euros as possible, effectively minting their own money.

The Social Currency addresses the idea that money is a social construct, and therefore so is poverty. The book showcases several communities that confronted their financial disadvantages by creating their own currency. These economic activists challenged the idea that money, by definition, had to be created and controlled by the government, locally instituting the printing of money in the process. Some examples of alternative currencies are the Brixton pound (B£) and blockchain’s bitcoin. Today, you can exchange the Brixton pound one for one against the pound sterling.

In 2017, the bitcoin cryptocurrency that the anonymous Satoshi Nakomoto reserved for himself, was worth $22 billion. It is time for the community to be actively involved in the process of minting money.

Money is a social construct and a medium for the exchange of value, and the essence of morality is the transaction. CJ traces the history of trade from bartering, standardized metal coins, through to government-controlled fiat, and today’s cryptocurrency. Interestingly, today we refer to blockchain as the Internet of value.

The dominant morality in any given moment arises from an oscillation of power between what the German philosopher Friedrich Nietzsche referred to as the Masters and the Herd or the oppressor vs. the oppressed. Absolute power corrupts, and it is time to challenge the idea that government-controlled money, and the “Masters” that support it, are suitable for the wider society. It’s time to confront the notion that money in its current state is appropriate for Herd’s social and fiscal interests.

Minorities, women, and even the disadvantaged among Whites struggle to raise valuable capital to develop their goods and services. The Social Currency concludes with a proposed strategy and technology infrastructure to alleviate poverty, the intersection of bartering, cryptocurrency, and financing. CJ will present the architecture that will realize innovations such as blockchain decentralized data so that the consumer not only controls but leverages their medical, academic, social media records, and more. Decentralized identities will allow consumers to seamlessly and secure the exchange of value across national borders.

Finally, the book will address how to comply with some of the regulatory hurdles necessary for the proper implementation of blockchain secure tokens offerings.

©2020 Cecil John (P)2020 Cecil John