Essential BIG Question: What is money?
In this week’s Monday News I asked a question: What is money? Compliments to Ledger’s School of Block for the explanation. It will cost you 11 minutes and 35 seconds. This is the trade-off for starting your first deep dive into this topic. What are you trading? Time. What do you gain? Understanding.
👇 Have a watch. 👇
Now that you have watched the video, you are probably thinking what does this have to do with $RONES? People often ask me, “Is this real money?” “Why are you calling it money?” “What can I buy with this?” As stated in the video there are/were many different forms of money. Throughout history human beings have been using all manner of things as a value of exchange. We humans have always been a resourceful lot. Depending on how you learn, you may need more than 11 minutes and 35 seconds for the below infographic.
👇Have a glance 👇
Figure 1. The History of Money: Visual Capitalist. Accessed 5 March 2021, https://www.visualcapitalist.com/the-history-of-money-explained-infographic/
Right! So you see dear Rare Ones, money, like all else continues to change.
“The only way to make sense out of change is to plunge into it, move with it, and join the dance.” Alan Watts
Essential BIG Question: What is Social Money?
Now that you have warmed up to the idea of money evolving, let’s go down the rabbit hole of social money. 🐰 🕳 🐰 🕳
The rise of social networks has birthed the concept of social currency and the like economy. The LIKE has taught us that there is currency in content.
- Give this video a LIKE if you enjoy this content.
- Smash the LIKE button if you want more like this.
- If you LIKE what you see let us know by clicking below.
- Make sure you LIKE us and write a review so more people can find us.
In 2006 Facebook introduced the LIKE, YouTube introduce it’s LIKE in 2010, Google and Twitter both incorporated their LIKES in 2015 etc ad nauseum. The LIKE is pervasive in social media networks and beyond. The LIKE has become a phenomenon. Recent research from the Royal Society for Public Health (RSHP) concluded that the LIKE button is the most toxic feature on social media. Said research isn’t the focus of this newsletter, however I thought it necessary to advise that all LIKES aren’t LIKED by everyone (you see what I did there?😂)
In June of last year Coin Desk wrote an article where it stated that creators are able to, “Have birth-to-death control over their content.” Social money extends the LIKE beyond platforms (like the ones mentioned above) to the community. It adds a layer of economics. I create a digital brand called Rare Birds. I want to then build a community. I call my family Rare Ones, we have our own culture, language and identity. Why not have our own economy? Those who live, eat and breathe the culture get exclusive access by earning and claiming rewards. You get “IN” and feel a stronger connection to me and what we are building together. You don’t simply LIKE you ARE. You are now sharing a special bond with all the other Rare Ones around the globe. In case you have missed who they ARE you can see some of them here and continue to view as they are updated weekly. Social money is the new LIKE but better and you hold the value.
At present $RONES give you access to our private community. Additionally, you claim rewards to special content as and when. What you should know is that with time this will evolve and you can have a direct say in how and when that occurs.
Lets keep going.🚊
Essential BIG Question: What is the future of money?
As you can imagine there are many views. Here is what I do know, which is anecdotal. I currently type this newsletter from China, a cashless and digital society. I honestly can’t remember the last time in my almost four years of living here that I encountered cash. My life is a smattering combo of Weixin and Zhifubao; a world of super apps. Contrast this to when I was growing up in the Caribbean and my parents often sent me to the bank to deposit checks on their behalf. Fast forward to 2021 where Bitcoin, the cryptocurrency, is valued at approximately $58,000. One can conclude much about the future of money from the above. Now let’s see what the experts think.
👇 Have a read. 👇
Author: Soulaima Gourani presented a view in the World Economic Forum, which included, “Money changes societies, and societies change money. This is how it has always been and will continue to be.” Alex Tapscott , CoFounder of the Blockchain Institute wrote in a Coin Desk Essay, “If you want to understand our collective future, follow the money.”
Neha Narula, told us in her TedTalk about the Future of Money. She began by sharing the story of the Yapese people in Micronesia, who use stone as currency. She laid out a case of what money is: a collective story we tell each other about value! I always like to start with self. What stories have you been telling yourself about money?
👇 Have another watch. 👇
To discuss the future of anything is to also discuss technology. So much of the future of money is connected to the technology that will enable its transformation. One of these technologies is called blockchain. In a similar vein a conversation about the future of money cannot be had without mentioning Andreas M. Antonopoulos, British-American entrepreneur, author and speaker. If you would like to learn his views on the future of money, you can start here.
👇 Have a third watch. 👇
There are a plethora of sources available to conduct more of your own research into the state of money. One such source is Decrypt, fully equipped with up-to-date news, reports and a podcast there is much content to get lost in. In their most recent podcast episode they shared the launch of their first token. Here you can examine for yourself a use case for rewards for building better relationships.
👇 Have a listen. 👇
There is much more to explore where money is concerned. My hope is that I have achieved my objective, which was to share what $RONES ARE through a series of Essential BIG questions.