If you ask around, how an economy works, most of the time you end up with the notes on how the government controls the economic system, with citation on how private enterprises can as well establish within the walls of these rules and regulations, the one truth about economies that is always left out is that "no one person or body controls an economy of more people".

Even an organization as the government does not control an economic system where they are more in the system than just them, this is quite the crucial piece of the economy that many people miss. If we can read history pretty well, economic growths and crises are formed within the public, the governmental system can only do as much as slowly effects overtime, this is by fooling the people that there are any structural placements of solutions where there really aren't any.

The 1930 Depression

We are made to believe economies need central frameworks of select people to work, which in this case - the government, but the reality is that it takes more than one man already under the luxury of being exempted from the harsh turmoils of day to day crises to understand how to make adjustments.

The difference between the traditional governing bodies and blockchain governing bodies is that the direct public has instant influence on the decisions made. An example is how a Hive witness can immediately lose blockchain governance influence if he goes all bad on the network, but with the traditional system, once voted in, there's really so little the citizens can do.

The 1930 depression was prove that economies are publicly influenced. The high speculations in the stock market that saw a handful of people rekt for buying into numerous projects and being unable to pay off debts when the markets took an unexpected turn, and how about the high production in the U.S that made it difficult for businesses to turn profit on product sales? And we all thought production was a good thing, yeah?

Well, the laws of supply and demand was the bastard blood sucking sick fuck in this story, if it was overly avaliable, it was probably not worth a ton yeah? The high supply made everything a shitcoin if we should apply crypto terms. The reality of these events, which have been more like the 2008 financial crisis, shows us that economies are influenced by the people.

The decision to produce was of the people, the decision to invest, was of the people, what the government does is work against the choices of the people like manipulating interest rates in order to cause a panic in the system that ultimately returns it to dependency. When you figure that a system deliberately creates systematic designs to influence when you work, when you profit and when you struggle, you should know well enough that such a system needs to be cancelled, not to be tangled in the cancel culture.

And they said crypto was bad, look how

Blockchain Governance Is Reshaping Economies

We need to pay a great deal of attention to how blockchain economies are getting on. While a lot of us would likely miss where the important stats are, there's more than what meets the eyes when talking about crypto assets and we most times look the wrong way - like the dollar valuation.

But it's ok, totally understand that something has to be priced, the unit of account is important but what the blockchain understands is it's network currency and assets which in the case of hive blockchain, is Hive token and HBD.

With Hive, we've collectively voted in some reputation people to manage the chain and can just as easily remove them from power, if needed. Hive has gone through some serious phases of developments with RC delegations and one block irreversibility being amongst the most recent and popularly discussed changes. What's more to see is how the Hive economy has reacted to the developments, where do we look?

The health of an economy is ultimately determined by the growth of the ecosystem, basically measured by a number of things including physical involvements, values earned within the system, values retained and invested in the system, externals benefiting from the system - which can ultimately boost involvement.

So what are there?

For physical involvements, we are looking at the Hive userbase, the growth, data shows a physical involvement of over 12 thousand people(content creators and engagers), this is a decline from the year start of 18k - lots of people consider this to be influenced by the general bear market and world wide financial crisis. However, 12k tends to have made more impact on the system overall. If we factor in other aspects of involvements like internal transfers and Custom JSON operations, this number goes all the way above 200k.

Looking at value earned within the system, Hive, in the first half of 2022 distributed nearly $7 million as content rewards, the Hive based values of this cannot be easily determined, but if we use an average price range of hive during the period of January to June, my approximation would be $0.80 per 1 Hive given that we traded within $1.20 and $0.70 for the better half of this time, so, converting $7 million to Hive would be about 8,750,000 Hive distributed to creators and curators from the rewards pool.

For values retained and invested in the system, we can look at Hive power as the value retained and HBD as the value invested, why? Consdering that HBD is Hive's debt.

The year started with 148M HP and we are now at 163M HP. A few big power ups in the period, in May and again in August.

It looks like about 15 million Hive has been retained in the system, with HBD, we've seen over 3 million increase in HBD savings which is a whooping 60% increase, this shows a healthy and steady growth in the overall Hive economy, to factor in external values earn that creates brand awareness, we can look at the activities within the valueplan project which has been funded through the decentralized Hive fund.

Blockchain technology, with Hive as the case study here shows that economies are really built around public interest and involvement, what turns out to be efficient, functional and healthy will depend mostly on the activities of the general public - no economy is properly managed from an office of one man.

Thank you and please leave a comment, your thoughts matter to me

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