Economic Games Using Blockchain

February 25, 2019

We are governed by games and stories. Capitalism is the most successful story in the history of humanity which everybody believes in. Even the people who don’t believe in religion believe in the story of money.

In today’s world, we can already see that the game is rigged. The current game is based on the old rules with social institutions as gatekeepers with their in-game currency as Fiat money. Value of a fiat currency is solely based on the trust of the issuing social institution, for example, the Federal Reserve in the US.

Blockchain gives everyone the power to create their own in-game currency. Since capitalism on Blockchain will be a peer to peer game, the value of this in-game currency will be based on the value generated by the issuing entity, be it a person, an institution or a nation-state.

This system can have multiple economies running in parallel at a global scale. All individual economies of varying size can be linked together forming a global economy, with decentralized exchanges connecting them together creating a peer to peer global trade.