Cryptocurrency is starting to change the world. Over the next half decade, we are likely to see an explosion in the number of tokens created. This is confusing to many who believe we only need one or two.
This is completely misguided and a result of being reared in a system that promotes scarcity.
So why do we need so many tokens? In a word: Freedom.
It is a concept that might sound counter-intuitive but bear with me. We presently have a system which is based upon dependence. Essentially, the many are at the whim of a few. We are controlled through our monetary system with little we can do about it. Those at the top run the entire planet.
Basically, we are looking at financial and economic slavery.
Right now, the dollar is king. This is pretty obvious as are the consequences of this. We see not only individuals, but countries, who are enslaved by this tyrant.
Anyone who has "money" in their bank account is dependent. We are first at the mercy of the bank. The presumption is it will keep the money safe and give it back when we want it. There are thousands of instances where this was not true.
Then we are at the beck and call of the government. Through the ability to write laws backed by the power to jail (read backed by guns), those who use money in ways not deem appropriate are in trouble.
Finally, there is the central bank which alters the money supply. This has a direct impact on each of us through a variety of mechanisms. Inflation is probably the most obvious. When that gets out of control, such as what happened in Venezuela, things can get dire very quickly.
Many feel there will only be one "Internet currency". Typically, these are Bitcoin Maximalists who feel the only worthy token is Bitcoin. It will rule the world after all so why would you own anything else?
Unfortunately, that is the problem. When one currency is dominant, problems arise. Sure, we can trust the math of Bitcoin a great deal more than we can a central bank yet it still puts us in a similar position.
Millions of tokens alleviates this.
Part of the innovation of Bitcoin is that it gave the average person, for the first time in history (at least since some form of physical money was created), the ability to create his or her own money. Before this, that was only in the hands of a select few.
Today, we already see thousands of tokens that were created. This leads many to conclude we "have too many". If one looks at tokens as freedom, how can there be too many?
The key is to distribute the power outward to as many people as possible. This is the idea of decentralization. Presently, the Fed Governors probably wield the most power of any position in the world.
People laugh at the Sally Smith Homesteading Token saying it is garbage. That is not true. It is power; it is freedom. I do not care if there are 25 people in the entire world using it, this is a powerful token.
Why?
Because those 25 people have the ability to store and exchange value without being dependent upon anyone else in the world. In fact, as long as it is running on a decentralized platform, there is nobody in the world that can touch it.
The Sally Smith Homesteading Token is independent from Donald Trump, the U.S. Government, and the Federal Reserve. These people are free to exchange value without imposition of manipulation from the outside. What they assign value to is not any of our concern. We might not see, understand, or care about it but those using it do.
We are conditioned to think big. Many look at a site like Coinmarketcap trying to find (hoping) for multi-billion dollar values. Certainly, there will be many tokens that fit into this category. However, that is not the sole piece of a winning model.
Bitcoin having a $50 trillion market cap would not be a healthy thing. Now that is not to say it will not reach some lofty figures. I personally believe it will surpass that of gold at some point. However, from a freedom and power perspective, we want distribution.
Control over money gives a community control over itself. This is the key concept. A community is any group of people who get together. This can be either geographically based or virtual. Many of the communities we see today are structured around a topic or idea. By providing these people with the ability to store and exchange value, they are free from dependence upon centralized entities.
This, of course, does not sit well with those who are presently running the existing system. Libra made some major waves because of the threat it possess and rightly so. The answer to the present problem is not another mega-currency to replace the one that is presently dominating especially when it is spearheaded by a company that is known for abusing its users.
So what could the Sally Smith Homesteading Token be worth? Perhaps a can of tomatoes. Or maybe three of them are worth sharing what the proper temperature of a green house should be. What value is assigned to and how much is secondary to the fact that, through this token, the ability to do it exists independent of any other currency or institution out there.
Welcome to freedom.
Over the next decade, we will see millions of different tokens being created covering the 7B people on this planet. They will be used in many different ways servicing the billions of different communities formed. Some will be household names being utilized by hundreds of millions globally while others are in the hands of a select few.
The important variable is that a small village in the Congo will have the same power as the University of Alabama booster club. A token used by 100 people on an online blog offers the same independence as a major application that is available for download on all the phones around the world.
Great things can happen when power is distributed. Tokens that are created on decentralized platforms offer the ability to start pushing the power outward away from centralized mechanisms. The ability to interact without interference is priceless.
What if I could use the Sally Smith Homesteading Token to get a can of tomatoes? Or how about using the AFIT token for a physical training consulting session? Or how about using the Air-clinic token for a discussion with a medical expert?
All of those things have value to certain people. Giving individuals the ability to engage on that level without dependence upon outside entities is power.
It is also freedom.
And that is why millions of tokens will help to lead people out of the slavery hell created by centralized money.
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