#14 Currency Design

Unbeknownst to many currencies have an underlying design. Where this was since the dawning of humanity an undertaking of the privileged view today with the advent of blockchain technology we see a plethora of initiatives sprouting.

For this reason, Ferananda Ibarra, and me link currency design to collective intelligence and other vital social factors that help shape the future of the different value exchange methods. As she quotes from one of her very first exposures to the topic: “Neither of you are going to go anywhere if we don’t fundamentally change one thing – the structure of money”.

We are going to dive deep into:

  • Basics of currency design: Euro, Dollar, and all the other money currencies are constructions. It takes a long time to gain the social trust that establishes a flow for example between farmers and dentists or any other profession.
  • Ying and Yang currencies and how their combination brings stability to a community. The locality is still an obstacle, however, the internet and modern technologies give us way more opportunities than ever before.
  • Instead of calling them “alternative currencies” – a scary phrase for many – we will call it “complementary currency”.  We discuss the examples of Colines in Mexico and Curitibas in Brazil, as well as collective dashboards and the idea behind them.
  • Emerging future of asset-backed currencies: It is highly likely to see food, energy, the internet, and a lot of other things as foundations of value exchanges as people have already experienced that empty tokens are easily destructible. However, we have to be smart about it, not everything can work as an asset for the currency, like land.
  • Decentralized Autonomous Organizations: We discuss the possibility of the Credit Union which will be a trustworthy autonomous organization handling our data when we implement the credit system infused with the national currencies we have today, so we will free ourselves from the boring monoculture of currency that basically most of us rely on.
  • Taking back the power over the internet and democratizing it is one of the future missions. It is conspicuous that big corporations that took the endless possibilities of freely connecting with one another from the ordinary people, covered them in a wrapping paper, and sold them piece by piece. We need to undo the damage. People have to take over and be in charge of creating social equality in the communities worldwide – especially in the ones that are experiencing late-stage capitalism right now.
  • Finally, debunking some common myths about the crypto market going haywire.

Ferananda Ibarra

has a background in collective intelligence, organizational architecture, and entrepreneurship focused on decentralized systems that solve our major global challenges. Her focus is on integral design and the development of new systems of economics, culture and governance that intrinsically incentivize life-enhancing behaviors at all levels of agency, supporting distributed and conscious participation in our global evolution. She co-founded The Metacurrency Project, VillageLab, Holo and Holochain and currently serves as Director of The Commons Engine, a service agency focused on currency design and decentralized tech for commons-oriented projects. She is deeply engaged with the Regenerative movement. She is currently launching The Coventina Foundation to bring funds for the decentralized tech ecosystem and the emergence of asset-backed currencies for universal human needs. 

The source of her commitment arises from the experience of living systems. Nature gives her powerful keys in her inquiry towards wholeness. Love as a first commitment brings forward a heart intelligence that nourishes her deeply.

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