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The Future of Money: "Evolved Anarchy" and Burning Man Have the Answers
Bitcoin will bring a seismic shift in global finance, says Toni Lane Casserly: "If you are an institution with integrity, generally I would say you don't have anything to worry about." ... So long to the world as we know it.
07 November, 2016
Some of us are Bitcoin enthusiasts, while to others this digital currency exists in a far-off plane, spinning in the distant ether like Super Mario coins. To date, Bitcoin hasn’t impacted most of our daily lives – but according to Toni Lane Casserly, co-founder of CoinTelegraph, that’s going to change soon, and it’s going to change us.
<p>As she explains Bitcoin and Blockchain, Casserly illuminates how digital currency empowers the idea of money, and does something that is hard to imagine: it makes money <i>honest</i>. Every transaction that happens on Blockchain is stored permanently as a public ledger – it cannot be erased or disguised. It is a completely transparent system, and it may finally provide the accountability that global financial systems have needed for centuries.</p>
<p>There’s an alarming quantity of red flags pointing to inequality and corruption within the world economy; it’s widely recognized, and yet it seems almost impossible to correct this established system without toppling it all together. Banks and financial institutions rely on one commodity to stay powerful: people’s trust. Trust is blindly handed over – because what’s the alternative? – then systematically abused for the benefit of just a few key players. When something is so systematically entrenched, Casserly says, it takes something radically new to force a paradigm shift. </p>
<p>It makes sense that Bitcoin could turn into a benevolent and democratic force: it was started by underground activists and anarchists, and it’s not the first time anarchy has evolved to become something oddly beautiful. Casserly draws an interesting comparison between Bitcoin and Burning Man: "What is Burning Man – the festival, the experience, the culture, the civilization – what is that other than the world's most evolved form of anarchy? Burning Man in the '70s were literally a bunch of awesome, cool anarchists going into the desert… and literally burning down the man." She continues, "I still don't think most people understand what is about to emerge in this modern technology landscape."</p>
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