100 days of hope — 8. Writers block(chain)
This is the first day I’ve had a block about what to write. Which is ironic because I have spent the whole day fiddling with block-chains.
Blockchains if you don’t know are the name for the coding that underpin cryptocurrencies, the most famous of which is Bitcoin. Since doing a course to learn more about them in November I’ve been sucked into the world of cryptocurrencies which is having a bit of a moment as it’s total market size has grown by 5 times since November.
Many people immerse themselves in the crypto world in the hope that they can grow rich quickly, and plenty succeed. But what is the cost. People within the cryptocurrency space even joke about how it’s made up of hundreds of different ponzi schemes, acknowledging that for every person who gets rich there’s 100 who lose their investment.
But if you care to dig beneath the hype, the space contains some ideas and technologies that many believe might fundamentally transform whole sectors of our economy.
DAOs
For example lots of projects are experimenting with being run as DAOs — decentralised, autonomous organisations. By setting up the rules for how an oganisation will make it’s decisions in computer code, you can make it so you no longer need leaders — just members who interact with the organisation and collectively decide what course the organisation takes. You can learn more and even start your own DAO at Colony.
SEEDS
Seeds is a cryptocurrency that creates a financial ecosystem around projects that are good for the planet and that support local communities to thrive. It rewards people for participating in these projects and in doing so creates an incentive for more people to get involved.
A great example is the 6 week ‘Tools for the Regenerative Renaissance’ which is running at the moment. It helps people learn about practical tools to use and activities they can take part in that will help them and their local communities thrive in a way that helps heal the planet. Within the course you are rewarded in SEEDS for experimenting with certain suggestions, and if you complete them all you earn more value in SEEDS than the course cost to begin with. They are considering a second cohort of the course in April, and reports so far are that it’s been amazing — I’m hoping to attend.
CELO
Celo is a cryptocurrency that is working to support the ‘unbanked’ — people from around the world who don’t have access to financial services. Services that I totally take for granted. It takes advantage of the fact that smart phones are now common place in all corners of the Earth and can offer services such as international payments that cost pennies and take seconds to send rather than people losing 20% of the money they send to family abroad and it taking days.
REGEN network
The Regen Network is using blockchain technology to maintain a ledger that tracks projects as they regenerate ecosystems. It helps link up people and organisations who want their money to help restore ecosystems with organisations who have the capability to do that. A recent example is Microsoft who have spent millions purchasing soil carbon credits from the Regen Network.
With the carbon footprint of people mining Bitcoin now exceeding the footprint of Argentina crypto currencies aren’t all good by any means. Like all volatile financial assets there is serious amounts of exploitation and money-worship. But the hope is that while a huge number of people are involved panning for gold, some real gems will surface alongside it.
