(Draft v0.1)
This is a first draft outline thinking through what we mean by the concept of a Tokenised Earth Economy. I hope this will stimulate discussion and debate that can help us to collaboratively build the narratives, protocols, systems, practices, and our beliefs about the potential of tokenising and valuing positive Earth State changes as the basis for an economic sytem that is inherently sustainable and that brings about ecological regeneration at the scale that is needed, before it is too late.
I'm not an economist. I am a doctor who became a blockchain technologist with the idea of developing a global digital immune system for humanity. So I have to begin with tring to understand What is an Economy?
TL;dr
An economy is defined in Wikipedia as "A social domain that emphasises the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'.
There are different types of economies, such as:
- A market-based economy where goods and services are produced and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency.
- A command-based economy where political agents directly control what is produced and how it is sold and distributed.
- A green economy is low-carbon, resource efficient and socially inclusive. In a green economy, growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.
- A gig economy is one in which short-term jobs are assigned or chosen via online platforms.
- New economy is a term that referred to the whole emerging ecosystem where new standards and practices were introduced, usually as a result of technological innovations.
- The global economy refers to humanity's economic system or systems overall.
So what is a Tokenised Earth Economy?
The Tokenised Earth Economy is a New Economy; based on Green Economy principles; that transitions the Global Economy to an economy in which goods and services are produced and exchanged using currencies backed by ecological assets – we define these as Earth Currencies.
As the value of the ecological assets that back Earth Currencies increase, the value (purchasing power and store of value) of these Earth Currency increases.
- The Tokenised Earth Economy increases the wealth of Earth currency-holders.
The Metacurrency Project describes this as Deep Wealth that is derived from the value of living systems, rather than from speculation about the value of goods and services that are produced and consumed in the current economy.
Deep Wealth is the heart of a thrivable future –Arthur Brock
As more ecological assets are produced and added to Earth Currency reserves, the supply of Earth currencies expands.
- This increases the supply of Earth Currencies.
As Earth Currencies become more accepted as the preferred medium of exchange, and store of value.
- This increases the usage of Earth Currencies.
As more people produce ecological assets and receive Earth Currencies in exchange for these assets, the Tokenised Earth Economy grows in sustainable and distributive ways.
- This increases the distribution of Earth Currencies.
As more people and communities begin to prosper, the transition to a Tokenised Earth Economy accelerates and this starts to become become "The Economy" –first at the local level, and then globally.
- This decreases the rate at which Earth is losing biodiversity, and turns the trajectory towards ecological regeneration.
Economic growth that is based on increases in the value, supply, usage, and distribution of Earth Currencies, is intrinsically distributive, equitable, sustainable, and regenerative.
I welcome discussion of the concepts and statements in this draft outline, to collaboratively build the narratives, protocols, systems, practices, and our beliefs about the potential of tokenising and valuing positive Earth State changes as the basis for an economic sytem that is inherently sustainable and that brings about ecological regeneration at the scale that is needed, before it is too late.
