This is a question that is very topical right now and its interesting to see everyone's opinions. Most cases all argue that assets and scarcity are the most important. With this programmable technology we are now able to something not possible before. We can program value flags to our transactions that will allow the users and ecosystem to benefit. I.e. Taking NSA technology but using it for good because it will be a voluntary user driven ecosystem. This way the positive shared values of participants can be measured, rewarded and fed back into the system.
Intellectual property is our most abundant resource and our valuable asset, It is the most importand facet of all disciplines, from the arts to science. Math based currency allows us to create the most valuable currency possible, just like BitCoin is revolutionary to the banking industry, ethereum can go further and revolutionize the intellectual property space. We suffer today with patent and copy-write laws that are not able to keep pace with technology. To facilitate collaboration, which has been the accelerant of our exponential advance in IT, new contribution models have been developed. While they have been of extreme benefit to the larger community it has been less generous to its creators and it makes sense that some sort of equitable balance should be found when rewarding IP our its quality is adversely affected. The open ledger lets us digitize ideas IP.
While programmable currency offers superior efficiency over all traditional ones, there are still several criticisms that should be addressed.
The main criticisms of math based currencies are: -
· What backs the coins
· How many coins are issued
· How the coins are distributed
We can addresses the issues above, while at the same time provide a protocol to measure the values that underpin the transactions occurring, by measuring their impact on the ecosystem we are ableto use of IP (intellectual property) to back or currency. This is measured by flagging value attributes to ideas, assigning these to transactions that occur in the block chain and then measuring them. By recording and analysing the various flagged attributes it is possible to understand the relationships between individual and collective values and rank them according to their benefit to the ecosystem.
Values through Values
I would like introduce work by Jerry Schuitema ” Value through Values” the power of giving in creating wealth. The book was published in 2007, in reaction to the problems he saw in corporate philosophy: - putting the value for shareholders above the value of customers. His arguments were vindicated a year later. Unfortunately the situation has not improved much but with the invention of math based currency we can change this.
The book focuses the relationship between transactions and values; there is a goldmine if conceptual models backed by filed studies and workshops. These models can be applied to the analytical tools that mine the block chain DNA. All we need to do is build the engine and the tools based on these models. Despite being written over 5 years ago its lessons and applications are more relevant today. Raymond Ackerman had this to say about the book:- “The way of the future, the whisper of tomorrow, this is what business colleges should be teaching …This pioneering work is not only timely but deserves to be read and studied by leaders and students in the years ahead” – Raymond Ackerman.
Having spent over 25 years in economics communication, Jerry has consulted with leading corporations in South Africa; he has studied Economics, History and Political Science at a tertiary level, and management at the Oxford Centre for Management Studies.
I have had the pleasure of knowing Jerry for just over a decade. Jerry and I have been discussing how his work could be applied to math based currencies. I think the hardest elements have been accomplished, the publishing of his book with examples required modelling tools and the BitCoin protocol. We would like to assist others to achieve values driven economies/ecosystems and hopefuly develop a Values driven DAO.
Communication’s strength is in its developmental abilities, not in its ability to manipulate. Technology will only really serve us to the extent that we stay focused on the primary aim of interaction: the empowerment of the other. - Jerry Schuitema
If anyone is interested or care to comment I would appreciate your feedback.