New Digital Currency Based On Who You Are


Remembering reading Friedrich Nietzsche? He’s the German guy who said that “God is dead.” What does it have to do with this new kind of digital currency made by Mister Anderson that has a different face value based on situation you are in? Well, Friedrich Nietzsche wrote about something similar.

What he wrote was that the coin with the same face value should have different buying power based on whether the person is a lazy, rich bastard or poor, working-class man. If the man is either incredibly rich – or has worked very little and has a lot of money – the coin should buy very little. If he, on the other hand, has worked A LOT for this coin, it should buy him a lot as well. I think it makes perfect sense. But until now, no one has applied this concept to the world of digital currencies.

Here is what my favorite tech publication has reported:

Anderson is starting a new digital currency project tentatively dubbed Document Coin. It’s a bit of an odd duck, but it’s intriguing, and Anderson is worth listening to. He’s the co-founder and chief software architect of Couchbase, a kind of new-age database with some serious cred among Silicon Valley developers.

Instead of using pure mathematics to prevent things like the same person spending the same money twice, Document Coin will rely on personal reputation to keep all transactions in order. And each unit of currency created using Document Coin could have different values in different situations. If you use a coin in one place, it might be worth more than if you use it in another. The goal, Anderson says, is to get people to completely rethink the entire idea of money.

via A New Digital Currency Whose Value Is Based on Your Reputation | Enterprise | WIRED.

You might argue that in this case “coin could have different values in different situations”, whereas Nietzsche wanted the coin to have different values for different kinds of people. But I still think that this is a step in the right direction. Perhaps one day in the near future someone will create a coin that will have different values based on how much you have worked for it.

Nietzsche has foreseen it. So this is going to happen. Let’s just hope the government won’t interfere. And if it does interfere, let’s take a united stand. Digital currency is one thing that can – and will – change the whole, wide world.

Roman Marshanski
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