Today I wrote this article, encapsulating my idea for a new currency system of the world, and wanted to share it specifically with the Liberty Forest community; open minded and ready for action.
While the banking cartels and their political pawns are busy planning the world's next currency system - I believe that we, as advocates of liberty & freedom, have a responsibility to plan a new currency system of our own. One that is based on real value. That constitutes open banking. And leverages technology.
Any dollar, pound, or euro is simply a unit for storing value. The problem of course, is that each of these units contain only imaginary value - because they, by themselves, are an intangible asset. The money is just paper or common metal at best.
Of course, on the contrary - gold is a rare commodity. A thing of beauty on it's own. And thus, a gold coin is a more logical unit of value. One that has already served the needs of mankind for over 3,000 years.
But what if there was another way? Another way to store value. One that features the advantages of both a digital currency and one that is backed by physical gold. A modern evolution of both; created for the future.
A new model for a new era
More than a 'currency' by itself, what we need is an entire new model. One that is designed to the highest level of simplified perfection. One that creates prosperity, distributes wealth, and encourages saving. Impossible to manipulate, control, or govern.
The model would prevent the inherit problems of today's currency: namely the ability for a centralized power to control the supply via inflation & deflation. Other banking abuses such as fractional reserve lending would be eliminated.
The new currency system must also be flexible: so it can be easily and instantly exchanged. Transcending borders. Connecting everyone. Enabling for a fast implementation and worldwide adoption.
Just as standardized coinage, a process that started as far back as 700 BC, was a revolutionary monetary innovation: our new currency model we create today must be an innovation that perseveres the ages.
The most significant innovation of our time - has been the inception and tremendously rapid development of the internet. It is certainly a communications platform that can facilitate transactions. And it also holds the key to our new world money system.
Open Source Currency
Among the benefits that the internet has helped modern day civilization achieve, is a philosophy that has emerged around a common goal for creating something better; together. "Open source" is a concept in whereby the source code of a given system is viewable to all. Countless open source projects have been started, and are fueled by, communities of experts willing to share their knowledge for the greater good; to make the system better. If this open source philosophy can be applied to a new currency as it has been applied to software - we will be on the right track to developing a system that can withstand, perpetuate, and succeed throughout the ages.
Indeed, today even a small team of programmers can create a secure, online banking system. No longer do we need massive institutions for holding our wealth. We have learned from the past: entrusting wealth in the hands of government (and quasi government) only leads to corruption, monopolies, and ultimately: failure. It is time we pass this great responsibility from government to an open source community - where corruption has nowhere to hide.
And indeed, an open source community is, in my mind, the only entity capable of bringing forward a monetary revolution.
The First Prototype
So if we bring together our bright minds in an open source community with the objective of creating a new model of currency for the world: just what might be created? What would it look like? How would we trade it?
Thousands of years of monetary evolution needs not be discarded. Rather, we simply need to adopt what works and drop what doesn't. The key is aggregated improvement fueled by new ideas.
The first idea is this: a digital coin.
Throughout the ages, coins have proved to be an everlasting store of value. Ranging from gold to copper - the concept remains in use to this day, even after thousands of years since the practice first began. And it is this level of of milestone innovation that our new currency system must achieve. A concept that can live for a thousand years before requiring another radical step in evolution. And indeed, the digital coin may be our next step.
Much like a physical coin is stamped with a mark of authority, a digital coin could be stamped with an encrypted code; used to identify it's authenticity.
The open source community would be responsible for developing the platform and servers required to generate, process, and authenticate the codes in order to facilitate the world's transactions. With the load balanced across a network of decentralized servers.
On the other side; when there is no active web connection - you can store your data on new type of physical coin. One that has a solid state hard drive built into it - used to store it's unique code. Allowing you to transfer wealth to and from your physical coins in the same way you would transfer data on an SD card.
Today, data is already a commodity. Open up your digital camera. Perhaps you have a 2 GB card inside. In your laptop, perhaps 100 GB. Desktop drives are now reaching upwards of 2000 GB. As you know, the higher capacity a hard drive, the higher it's value. And much like currencies, the value changes over time. In 1995, a single gigabyte cost over $800.
In our new currency model of the digital coin the face value could be measured in gigabytes, much like an SD card. Having a higher capacity "coin" means you can hold a higher unit of wealth; or a more highly encrypted code.
Want to buy a new TV? That will be 10,000 Gigabytes please.
At any rate, it's exciting to follow the development of technology. And we can peg our currency to technological innovation - safeguarded by an open source community - then we might just achieve the harmony needed to create a new currency system for the world.
Of course, we won't know for sure unless someone builds the first prototype.
http://www.libertyplanet.com/news/1005/new-currency-world
Your feedback is welcomed.
While the banking cartels and their political pawns are busy planning the world's next currency system - I believe that we, as advocates of liberty & freedom, have a responsibility to plan a new currency system of our own. One that is based on real value. That constitutes open banking. And leverages technology.
Any dollar, pound, or euro is simply a unit for storing value. The problem of course, is that each of these units contain only imaginary value - because they, by themselves, are an intangible asset. The money is just paper or common metal at best.
Of course, on the contrary - gold is a rare commodity. A thing of beauty on it's own. And thus, a gold coin is a more logical unit of value. One that has already served the needs of mankind for over 3,000 years.
But what if there was another way? Another way to store value. One that features the advantages of both a digital currency and one that is backed by physical gold. A modern evolution of both; created for the future.
A new model for a new era
More than a 'currency' by itself, what we need is an entire new model. One that is designed to the highest level of simplified perfection. One that creates prosperity, distributes wealth, and encourages saving. Impossible to manipulate, control, or govern.
The model would prevent the inherit problems of today's currency: namely the ability for a centralized power to control the supply via inflation & deflation. Other banking abuses such as fractional reserve lending would be eliminated.
The new currency system must also be flexible: so it can be easily and instantly exchanged. Transcending borders. Connecting everyone. Enabling for a fast implementation and worldwide adoption.
Just as standardized coinage, a process that started as far back as 700 BC, was a revolutionary monetary innovation: our new currency model we create today must be an innovation that perseveres the ages.
The most significant innovation of our time - has been the inception and tremendously rapid development of the internet. It is certainly a communications platform that can facilitate transactions. And it also holds the key to our new world money system.
Open Source Currency
Among the benefits that the internet has helped modern day civilization achieve, is a philosophy that has emerged around a common goal for creating something better; together. "Open source" is a concept in whereby the source code of a given system is viewable to all. Countless open source projects have been started, and are fueled by, communities of experts willing to share their knowledge for the greater good; to make the system better. If this open source philosophy can be applied to a new currency as it has been applied to software - we will be on the right track to developing a system that can withstand, perpetuate, and succeed throughout the ages.
Indeed, today even a small team of programmers can create a secure, online banking system. No longer do we need massive institutions for holding our wealth. We have learned from the past: entrusting wealth in the hands of government (and quasi government) only leads to corruption, monopolies, and ultimately: failure. It is time we pass this great responsibility from government to an open source community - where corruption has nowhere to hide.
And indeed, an open source community is, in my mind, the only entity capable of bringing forward a monetary revolution.
The First Prototype
So if we bring together our bright minds in an open source community with the objective of creating a new model of currency for the world: just what might be created? What would it look like? How would we trade it?
Thousands of years of monetary evolution needs not be discarded. Rather, we simply need to adopt what works and drop what doesn't. The key is aggregated improvement fueled by new ideas.
The first idea is this: a digital coin.
Throughout the ages, coins have proved to be an everlasting store of value. Ranging from gold to copper - the concept remains in use to this day, even after thousands of years since the practice first began. And it is this level of of milestone innovation that our new currency system must achieve. A concept that can live for a thousand years before requiring another radical step in evolution. And indeed, the digital coin may be our next step.
Much like a physical coin is stamped with a mark of authority, a digital coin could be stamped with an encrypted code; used to identify it's authenticity.
The open source community would be responsible for developing the platform and servers required to generate, process, and authenticate the codes in order to facilitate the world's transactions. With the load balanced across a network of decentralized servers.
On the other side; when there is no active web connection - you can store your data on new type of physical coin. One that has a solid state hard drive built into it - used to store it's unique code. Allowing you to transfer wealth to and from your physical coins in the same way you would transfer data on an SD card.
Today, data is already a commodity. Open up your digital camera. Perhaps you have a 2 GB card inside. In your laptop, perhaps 100 GB. Desktop drives are now reaching upwards of 2000 GB. As you know, the higher capacity a hard drive, the higher it's value. And much like currencies, the value changes over time. In 1995, a single gigabyte cost over $800.
In our new currency model of the digital coin the face value could be measured in gigabytes, much like an SD card. Having a higher capacity "coin" means you can hold a higher unit of wealth; or a more highly encrypted code.
Want to buy a new TV? That will be 10,000 Gigabytes please.
At any rate, it's exciting to follow the development of technology. And we can peg our currency to technological innovation - safeguarded by an open source community - then we might just achieve the harmony needed to create a new currency system for the world.
Of course, we won't know for sure unless someone builds the first prototype.
http://www.libertyplanet.com/news/1005/new-currency-world
Your feedback is welcomed.
