Aug 26, 2020
The ICO of all ICOs
The ICO (Initial Coin Offering) could turn out to be a bootstrap mechanism which catapults us into a new era, with one final, eternal project empowering the whole of humanity.
An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, however a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of “tokens” (“coins”) to speculators or investors, in exchange for legal tender or other (generally established and more stable) cryptocurrencies such as Bitcoin or Ethereum. The tokens are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project successfully launches.
-Wikipedia, 2020
With the Covid crisis, we’ve seen the phenomenon of massive free money stimulus, and analysed its effects.
Still, the arguments rage on, as to whether or not free money is a good thing.
Not surprising, as when we look at it through clear eyes, we realise the implication of it, is that we’ve lived and devoted our entire lives to an illusion of scarcity, subsequent slavery, and a further subsequent choke on real human-centric innovation for thousands of years.
We need only look at the sun to see the empowerment example of nature, the sun provides all energy to all of nature for free, and all of nature blooms. It asks nothing in return. No contract of repayment or debt is ever made by anything in nature, to the sun, as far as we can see.
That is a pretty big red pill to have to swallow, for most folk, especially those who have lived longest, and invested most, in the most “developed” societies, to realise each and every one of us, that we have been building ourselves into a corner.
Meanwhile, there is no getting around it; free money will continue to be issued whilst there is a risk of increasing proportions of populations in these most “advanced” countries being made homeless and destitute without it.
So we will continue to see the evidence of its beneficial effects accumulate, until it can no longer be ignored or denied.
We will increasingly catch glimpses of a new way of working, where humanity can, instead of engaging in, and being universally frustrated by conventional politics, actually begin to cast genuinely democratic votes instead, in the markets, wielding free money, with little interest in making profit, since the money we are using is free.
If the majority of humans can trade in markets, then by definition, we are identifying the things of most value to the majority of humans, at least where those things have a presence in the markets.
And there is the rub.
If we are truly seeing democracy moving from conventional politics to free markets, there is one thing missing which would finally allow humanity to manifest the things we know should exist in a just world, that we absolutely would validate in the market, if those things were there to be validated.
That is, something to buy with our free money, which represents the thing we see as having value.
For that, a token is needed, to be placed in the market, by all people, and all organisations, who might create the things we see as adding value to humanity.
In the case of established companies, there are shares.
For governments, there are fiat currencies
But nothing for individuals, any of whom could create an infinity of new things.
For example, let’s say a person writing in Medium, or perhaps in academic papers, describes a system needed, which the majority of us agree would add significant value to humanity.
Let’s say that this theoretically expresssed system should not require to make profit, since intuitively, any profits taken by the system, would be something done at the expense of humanity, and in fact, even the smallest profit taken would seriously detract from the attractiveness of the system to the public.
In the economy of scarcity we’ve seen to date, all chances of any such system becoming reality are quashed, by the need for all business to date requiring investment, to return profit to its shareholders and funders.
However, if the person proposing the project, and equally, all other people, had a personal token, even a free money token, which was uniquely tied to their identity, and which was being traded in the market, together with those of all other people, we might read their story in Medium, or in academic papers, strongly agree with the principles of it, and go buy some of their tokens, with some of ours, as a show of our appreciation.
Elaborating the example, let’s say the system was a worldwide-scale solar power implementation project, which a majority of us might agree is needed, for the future safety of humanity, and our planet, to protect it from the ravages we’ve seen from human exploitation of our planet’s fossil fuels for energy to date, and to give us, all of us, free power, independent of significant consumption of planetary resources, which we might do with whatever we please.
The person writing the articles on worldwide solar power system installation would probably be one of the key people we would like to see involved in the implementation of the same project.
So to encourage them, into perhaps initiating their project, we might buy some of their tokens, to show our appreciation and support of the idea. This would actually empower them, by giving them the means to do it, in the form of value added to their personal tokens, by the popular purchase of the same, in the market.
Note that all of this scenario is in the absence of anyone wishing to make a profit. All in the scenario are living with, and trading with free money, thus all are simply interested in what things add value to our world, so there is no motive to artificially drive the “Share” prices of anyone.
So all people need a personal token representing their interests, which can appear in the market, to act as the same kind of handle, like that we crank for conventional businesses and governments, to show appreciation of their output, by assigning value to them via the markets.
This could be in the form of say, a continuous crypto-currency generator, associated with their person.
By this means, we should expect all manner of projects beneficial to humanity becoming possible. Those things, never previously possible in the conventional profit driven business environment, become something within the reach of every human.
The life of every human as such, could be considered as a kind of continuous token sale, as is already becoming the lives of businesses and governments, via the issue of continuous shares and money.
In other words, the life of every human becomes an ICO, from start to finish, as does already that of every government, and every company.
In that new scenario, all humans automatically have a new possibility of finding their own, generously funded niche, in a new ecology of non-profit, humanity enhancing business, where the only criteria needed for anyone to follow a particular ambition, is for other humans to approve and validate their ideas and actions in life, by buying some of their tokens in the market.
This could work for all manner of projects, from sweeping someone’s garden, to interplanetary terraforming, through vaccines for things like Covid, and even towards immortality. If the majority likes the idea, it goes ahead.
What is needed, is an incorruptible (Probably decentralised crypto) currency generator, which automatically assigns personalised tokens to all people, for all time, coded uniquely to the identity of the individual.
The natural mechanism to fund such a development appears to be an ICO.
The ICO of all ICOs.
Do you like this idea?
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Sun graphic source: https://en.wikipedia.org/wiki/Sun#/media/File:PIA22197-SunFormsQuestionMark-20171222.jpg
Udpate 05/04/2021: Further analysis of the Bitcoin phenomenon, given its incredible expansion, quadrupling in value, just in the nine months since this publication, identifies how the technology of Bitcoin might mesh with that described above. That story is at:
