“I believe in decentralized management that includes a lot of delegation, empowerment, and accountability.” -Anthony Scaramucci
We often talk about decentralization. Mostly in the sense of blockchain- Decentralized Finance; DeFi. Why? The opportunity that inherently comes with blockchain technology is widely spread… This technology has already helped to open the eyes of millions around the world to freedom and liberty in everyday commerce. Decentralized technology brings more fruition to the idea of a truly free market economy.
Beyond Money.
Think of the way our money impacts and flows into almost every aspect of our lives. Our homes, our diets, our clothes, water, our cars, our travels, our careers, entertainment, communication, health and wellness, interaction with our government (taxes)… the list continues. In a world of consumerism and convenience, money is the tool to have, to do really anything.
It goes far beyond finances, just as money itself does- This concept of decentralization. Decentralization will affect, not only monetary exchanges, but the exchanges of ideas, documents, content and information as a whole. Anything valuable, anything we’d put money, time or effort into.
Money and Value
Money and value are fascinating concepts. They’ve come in many shapes and sizes throughout the ages. From resources, time and labor to precious metals and stones, coins, paper, plastic cards, and now moving a step further into the digital realm, as most of the cash in the banks is digital anyhow. Or more appropriately said for fiat currency: fake. (Can we liquidize the entire banking system in any economy? Probably not.) Now we have totally digitized money- cryptocurrency. Bitcoin to name the “first” and largest.
The Process of Money
Money is what we see as valuable. It’s legal tender. The stuff we use as a medium of exchange to make trades and exchanges. Usually government issued, unless you use some sort of barter system. The big thing now is crypto: 100% digitized, verified on immutable blockchains, decentralized financial and value exchange systems.
As societies had grown larger and larger there seemed to be a need for a common form of currency to be issued. This concept goes back to ancient civilizations. The problem? There aren’t a lot of societies throughout history to be found that were able to operate under free market principles. No where near the levels we see today in places like the USA and Hong Kong. Comparatively speaking, some of the more socialist governments in Europe have exponentially more freedom than in times past, though they operate under more centralized governmental authority.
Greed of man and Big government has always been an issue. They control the money, if there is to be a common economy. Governments are the law setters. The one’s to hold society accountable. Though they always seem to corrupt themselves. It’s true what they say, to a certain extent, that whoever controls the money controls most everything else.
Fiat to Blockchain
The Government-backed fiat currency we have today is almost worthless, especially with the U.S. dollar as the world’s reserve currency. The biggest shitcoin in existence. Only valued by the words of “this is legal tender” printed on the face.
Centralized Banks work with government entities and cause nothing but trouble. They manipulate the market and mint money recklessly No standard. Just political validation.
It only makes sense, that as the internet interconnects people around the world in every-which way, that there is a medium of exchange that is borderless. Verified, not by a government, but by technology- individuals. Peer-to-peer transactions operating on a decentralized blockchain spread amongst dozens, hundreds, or thousands of nodes for verifiable value exchange. These transactions happen at lightning fast speeds, on scalable networks that can process high dollar transfers cheaper than traditional fiat systems. Decentralized Finance.
The Domino Effect…
When we start to decentralize the financial systems that are available to us, it affects everything. Like we’ve said before. Money is involved with almost anything we do- even when it’s something “free”- there’s always food/water/entertainment/travel costs involved. So when we start to break that up into borderless, peer to peer operations, everything else will follow suit.
Information, documents, certificates, art, ideas, content, etc., etc.
Peer-to-peer transactions in real estate with smart contracts– saving oodles of time and money on third party fees. Artists can receive the most security for their content against piracy, ensuring that they’ll get the most bang for their buck, using NFTs. People like me are already making (almost) passive income by clicking on ads in the Brave Browser since they intend to compensate us for our attention, rather than use our data to make a buck off of our attention like other browsers.
Web 3 is here. It’s most known for being a financial technology, but it extends to the free trade of anything valuable. It’s already changing the world.
Opportunity Showing The Need for Change
Opportunity abounds in the world of web 3. The proof is in the pudding. Blockchain technology is sweeping the nations with economic growth. Borderless currency means borderless wealth.
Decentralized, peer-to-peer networks are putting individual people back in the driver seat to take control of the operations of daily life. They help to remove third party entities and class/economic/political barriers within the existing systems by allowing anyone from anywhere to participate in development and network operations.
This is why we talk about blockchain so much on ofthefreemarket. It’s more than crypto. It’s more than a hopeful fad. It’s realistic, innovative technology that’s going to revolutionize the word of commerce as we know it. Decentralized markets are free markets where voluntary exchange can prosper.
