CAMBRIDGE – What is money? Some have described it as a shared fiction, or as a form of collective memory.
These technologies all facilitate the creation, transfer, and destruction of value, and each works only because a group of participants – a “tribe” – has reached a fundamental agreement about what holds monetary value.
A crucial question for any monetary arrangement is who, if anyone, has the power to create money, take it out of circulation, and determine how it can be used.
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Facebook’s model, came out of.The only opportunity that Bitcoin allows is establishing a further predatory transactional system for further opportunism of corporate entities again, especially such as FB, to capitalize on transactional charges to the total detriment of all populations attempting to survive from any type of ethical transactional operational systems that allow any means for any real survival within any still functionally and legally defined state/nation with real geographical boundaries, that use any type of exchange value systems, including electronic data accounting systems, and voting systems to exchange any goods, that are based on any transactional possibilities of GOOD rather than exponentially, and unlimited chaotic results of BAD.
Where I would suggest we need to assess the risk of having large corporations, in their case Facebook, being able to offer a rival to fiat currencies, is for the lesser currencies and economies of the majority of countries around the world.The experiences of Zimbabwe, Argentina and Venezuela – and going back a century to Germany – should be sufficient to explain the danger from loss of control of the money supply and confidence in a country’s currency.
What essentially needs to be addressed, and what everyone globally especially in the fintech “realm” is totally avoiding is focusing on action to increase and acknowledge any understandings beginning with the CONCEPT of GOOD.
Although the modern world was built with oil, the time has finally come for humanity to shift to newer, cleaner sources of energy.
Bold, specific, and usually alarming predictions about automation and coming job losses obscure a basic fact: the future remains uncertain.
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