Philosophy of Digital Currencies
A Theory of Monetising Time
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Current systems are failing the poor because these systems are unable to provide the financial inclusion needed for basic subsistence and commerce, which in turn would drive micro and macro-economic growth. This book introduces the reader to a new way of thinking about how value can be created, captured, measured and understood, economically and financially, and within in the context of social contract. It underscores the need to revisit such models through technological advancements, namely Industrial Revolution 4.0, in order to solve pressing global issues like economic inclusion and poverty eradication.
The book proposes that for humanity to make the leap forward and for any real sustainable development to occur, the world needs a disruptive approach to value creation using currency systems, considering that currencies underpin value exchange. This disruption will result in a level of decentralization that facilitates peer-to-peer value exchange and drives financial inclusion, all of which should be underscored by a new, digital social contract. The author asserts that a time-based digital currency could address these issues by creating a new and truly inclusive currency model that allows economies to gain more value than previously possible. In addition, by leveraging 4IR technologies, a currency system can be designed where each unit of money accurately reflects the context and range of socio-economic factors that influence each human interaction.
This book is aimed at futurists, technologists, researchers, policymakers, and anyone that is curious about how technology could make a difference in our collective futures. It cuts across a range of subject areas from economics, finance, philosophy, innovation to social development and takes an interdisciplinary approach to present a logical framework and theoretical foundation for the monetization of time as a digital currency.
Table of Contents
- Conquering the Next Millennium
- If God Designed the Political State…(and Human Interaction)
- The Nei Ye, The Guanzi, The Analects
- Sovereignty and Natural Law
- And now the (First) Social Contract
- Value (i): Socially Intrinsic?
- Value (ii): Economically Extrinsic?
- Deep Dive: Origin of Contemporary States and Influence on Economic Perspectives of Value
- The Money We Value, the Value We Monetize
- We’re Live, We’re Digital
- Remember the State, Well Now Its Digital
- The Fourth Industrial Revolution: Tech This, Tech That!
- Digital Economy and Economic Value
- The Concept of Time
- Deep Dive: Research Insights
- Deep Dive: Research Findings
- (Industrial) Revolution = Opportunity (For Humanity)
- Innovation: The Holy Grail of Private Sector Competition
- New Networks and Applications: Web 3.0?
- The Present-Future of Interaction: (De)Centralization?
- Financial Technology and the New Value
- Philosophy of Digital Currencies
- Theory Statement and Logical Framework
- Time is Money
- Getting There: A Cashless Future
- What Happens Next?
List of Tables
List of Figures
Ugochukwu Chigoziem Ikpeazu is a Lecturer at the EU Business School, Switzerland. His research, as well as professional and entrepreneurial experiences focus on technology, strategy, and social development.
"The author brings an interesting perspective on the origin of states and the factors that have influenced their origin within political theories and philosophy. This sheds light on issues of sovereignty and authority and questions the definition of ‘nation’ in the context of an evolving social contract." Ameenah Gurib-Fakim, Former President of Mauritius
"This book covers the evolution of economy, financial systems and technology with an attempt to find an answer for creating an equitable world. In this very engaging book, Ugochukwu Ikpeazu with his deep understanding of financial and digital systems, presents an alternative approach for capturing economic value for social development." Raghunath Mandava, Independent Consultant and Former CEO of Airtel Africa
"From Saint Augustine to Einstein, the concept of time and its definition has been extremely difficult to capture. This very provocative and interesting book by Ugochukwu Ikpeazu – based on the contribution of many disciplines - tries to monetize the concept of time, in order to address some of the issues of labour today and also, if possible, contribute to a more just and inclusive economy. This is certainly a very stimulating attempt that deserves serious consideration." José Manuel Barroso, Chair of the Board of Gavi, the Vaccine Alliance, Former President of the European Commission and Former Prime Minister of Portugal