When the Internet came into existence, some predicted that the world was about to change, and No one believed it. But it did change the world as we know it.
This is about the evolution of the Internet,
“The Internet of Money”.
Bitcoin, an invention created by an anonymous creator unleashed as an open source project developed by the community and run on peer to peer network. It was derided, laughed at and ignored for the first five or six years. But we know the status of Bitcoin now. It’s not about how the market is responding to it, but the core concept. The concept that gives us the freedom to take charge. Care how to world is going to be and gives us the power to do something that makes this world a better place.
Things that were previously unthinkable are now thinkable. People are beginning to think that this is something bigger. There are things which these people are told, and what are they told? All the negative aspects of Cryptocurrency. But when you have some more clarity, you get to understand, how important this technology is.
Bitcoin is a protocol. When you talk about protocol and Bitcoin, it brings up a very important question:
What is money?
This is something people have no idea about or how it works. The concept of money is so deeply embedded in our system that we don’t even need to think about it unless it stops working. Let’s take a look at Venezuela. When the money stopped working, everyone had something to say about what money is.
At the very basic level, Money isn’t value. Money is useless, till the time it is not used. You use the money to get things of value, but there is no value associated with money itself. Money isn’t a construct of authority. But all of our money comes from the construct of authoritative sources. It’s like some guy with a crown on his head says “This is your money” and it becomes your money. You are indirectly controlled by the concept itself in the world where freedom is the most important thing.
What if money could be created without authority?
Money could be simply created through use. It turns out that money really is, is a language. Money is a language that human beings created to express value to each other. As a language, it’s one of the fundamental constructs of civilization that allows us to exceed what’s known as the Dunbar number. Dunbar number is a suggested cognitive limit of stable relationships that we can maintain. It’s based on kinship and acquaintance. If you want tribes to work together, you need to have a common bond. These bonds have included culture, language, religion, and money. Money is the only thing that allows us to extend the construct of a single tribe and engage in commerce with others on a greater scale.
As money evolves, we evolve in our ability to surpass the Dunbar number of maintaining stable relationships. Why shouldn’t money evolve then?