Just like social networking applications gave us social media, economic networking applications will give us ECONOMIC MEDIA. How we relate to each other economically will be remediated by applications (formats, templates, protocols) in the same sense that our social relations already are. Crowdfunding, P2P lending, cryptocurrencies, DAOs and DeFi, liquidity and community farming, are just the first baby steps of this transformation.
Social media horizontalized our communication, but left the information and protocol layer called the economy untouched. We can’t control the economic protocols that underpin the value capture of our communication. The next generation media will redesign the default convergence of communication, finance and computation, and fuse messaging and economy in ways that are programmable from below.
We want to create a more expressive language to describe our economic networks, their participants, the nature of their relations and how they change, what they value, how it is measured and exchanged. An ECONOMIC GRAMMAR which open and free to use, gives everyone equal capacities of economic expression and does not collapse into single universal value definition of a fiat money or a “master token”.
15 Oct 2019
Prof. Jonathan Beller (Chief Media Architect, ECSA): “Bitcoin, Libra, China, or ECSA? These are the four major approaches to the future of finance. If that’s right, only ECSA has a truly radical and fundamentally innovative approach.”