We Are Setting Up A Completely Separate System
Setting up an alternate system as compared to adding onto the existing one. This is a complete change from what happened the last few decades.
In this video, I discuss the idea of a completely new economy and how we have the opportunity to remake most of our society.
▶️ 3Speak
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Interesting, thanks for sharing!
Summary:
In this video, Task discusses the concept of an alternate economic system using cryptocurrencies and blockchain technology. He emphasizes that this system is under construction and not tied to the existing financial systems. He cites a study indicating that the top 100 cryptocurrencies are not correlated with the forex market. Task highlights the potential for virtual economies, where individuals can earn rewards and participate in various ecosystems through cryptocurrencies. He envisions a future where basic needs can be fulfilled within these virtual economies without reliance on traditional financial systems.
Detailed Article:
Task starts by addressing the need for an alternative economic system, as the current one is not working for many people, especially considering the challenges brought about by events like the pandemic. He advocates for cryptocurrency and blockchain technology as the basis for constructing this new system, emphasizing that it is being built from the ground up and is not tethered to existing structures.
He refers to a study conducted by physicists, showing that the top 100 cryptocurrencies are an alternative to the forex market, with Bitcoin and Ethereum serving as analogous base pairs in cryptocurrency trading, akin to USD and Euro in the forex market. Task explains how traders move between different tokens, primarily using Bitcoin and Ethereum as intermediaries rather than traditional fiat currencies like USD.
Emphasizing the slow but transformative process of building a new economic system, Task draws parallels with the development of the internet over decades. He highlights the need to rebuild infrastructure and change governance over time for meaningful progress to occur. Despite the instant gratification culture, he advocates for patience, pointing out that significant changes take time to unfold.
Task discusses the rapid growth potential of crypto-economic systems, using examples like Instagram's exponential rise in value within a short period. He suggests that similar growth patterns can occur within cryptocurrency ecosystems, with the ability to scale rapidly due to global internet connectivity.
Furthermore, Task envisions a future where most basic needs can be met through virtual economies facilitated by cryptocurrencies. He describes these virtual networks as standalone markets with their own currencies, enabling individuals to earn rewards and participate in various ecosystems seamlessly. This model allows for flexibility, where users can navigate different ecosystems, earning rewards that can be converted into investments or purchases based on individual preferences.
In conclusion, Task underscores the revolutionary potential of establishing an alternate economic system that operates independently of traditional financial structures. He highlights the power and versatility of cryptocurrencies, envisioning a future where these systems can function autonomously, offering individuals greater autonomy, choice, and accessibility in their economic activities.