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@ śatosha
2024-12-02 17:08:35
The way digital information transformed every aspect of modern life - and is now redefining the value exchange (#bitcoin); the written information rewired then existing social, political and fiscal fabric. First multilateral5 economic system (#gold) emerged atop "one on one" barter. Power structures reconfigured themselves. Kingdoms had to capitulate to figure out new methods of taxation. Barter is by definition a coincidental bilateral value exchange. With gold, we discovered multilateral trade. In Barter, one must exchange the value one on one, face to face. With a spoken promise, we could shift the coincidence across time, but it was prone to errors. And the added anxiety - counterparty may not honour the promise. With gold this problem of "trust" got taken care of. We could convert a commodity into gold and later trade gold with someone else. Since then, our economic system is multilateral. With bitcoin, we envisage to solve another problem - how do we enable our AI models - our reflections in cyberspace space - to exchange value without having to seek our permission. How to give agency to our digital twins. With value exchange empowered autonomous AIs, we make the deal truly multilateral. For example, I may set up many AI models that provide my different skills in exchange for value. My digital twins may transact at the same time with multiple other real and digital people. And among each other - just the way our limbs trade value with each other !