15 Oct 2019
“Economic Protocols for Liquidity Creation, Staking & Value Expression” MIT PROTOCOLS FOR A CRYPTOECONOMIC NETWORK
“We are existing inside a capitalist Economy, and at the same time trying to create an alternative to the capitalist economy. (…) We are not a sect. We are trying to say this alternative Economy has to have porous boundaries.
This ECSA economy will come alongside commodity exchanges that individual people will do in a capitalist society. The porosity of the boundary adds complexity to the analysis. What we had to worked towards is – How can we not quarantine this total economy? How can we give privilege to a certain set of metrics that will give people the pursuing individual goals and incentives to pursue things that are not driven by profitability? So we are not adverse to individualism, but we can decouple indivudualism from profitability.
We believe inside all people there is a desire to do social good, but the problem with the profit system is that it doesn’t give oxygen to do that. We are saying we are designing something that will encorage and nurture people to do social good.”
(from min 6:29)
At Supermarkt Berlin Prof. Dick Bryan (Chief Economist, ECSA) and Akseli Virtanen (Co-Founder ECSA) discuss causes of central bank fragility and fungible approaches towards capitalist protocols. ECSA’s upcoming White Paper took on the remit of a much needed new economic grammar that intensifies liquidity and relationality in peer-to-peer stakeholding.