The future of cryptocurrency is Green
As a technology, cryptocurrency remains underdeveloped and this for three basic reasons: 1. centralizing regulatory power; 2. a myopic understanding of crypto-logic; and 3. the lack of knowledge and trust in the public domain.
On the whole, centralizing regulatory power remains caught between on the one hand, the old wealthy power-bloc that wants to keep its power and influence, and, on the other hand, the innovators motivated by the promise that blockchain and crypto can unleash into a new more efficient, prosperous economic horizon. Eventually the old wealthy power-bloc and their army of bureaucrats will lose but not without a fight. The regulatory sector is thus caught between old money and the revolutionary innovation of blockchain and cryptocurrency.
Centralization vs. De-centralization
At this stage, cryptocurrency 1.0 (C1.0) albeit ingenious will soon only be read as a first, modest breach in the fortress wall called, “centralization.” C1.0 is almost entirely predicated on a mode of production that only partially functions external to centralization; indeed the requirement to draw massive energy from the electrical grid only testifies to this reality. C1.0 will not advance to C2.0 without jettisoning its addiction to nearly all forms of centralization, the electric grid notwithstanding.
This is why C2.0 will be green.
But C2.0 is already emerging, slowly but the signs are there. For example, GCAS’ crypto-token “GCASY” circumvents the asymmetrical requirement for mining that’s wholly contingent upon and addicted to the electrical grid. In fact, the GCASY token economy brings human beings into the equation as a node in the circuit replacing electricity hungry servers. Agents in the GCASY token economy reproduce and extend their economy through mining actions and desires they are already doing everyday.
In this way, the GCASY ecosystem recognizes and harnesses unpaid labor value in ways that directly benefits the laborer. This adds value where value was heretofore unrecognized by centralizing interpretations of “value” C1.0 included. By incorporating, everyday unpaid habits as well as intellectual powers and theoretical apparatuses into value creations another economical world is launched. What’s more, when combining “thinking possibilities” with AI-VR-AR emergent learning worlds new horizons will be discovered and they already are. The universe will change and is even now.
GCASY is thus a prototype for C2.0 and more ecosystems will rise shortly.
And this brings us to the third point raised above namely the lack of knowledge and trust in the general public domain. And here the reply is simple: once you reclaim value of heretofore alienated aspects of human labor that don’t register within a centralizing economic paradigm, the missing link of knowledge and trust will be flipped into an immanent circuit of immediate value surplus heretofore unknown. This new measure of human labor value both speculative and concrete can today hardly be imagined, but it is coming and like a wave in the ocean, it will overwhelm all barriers the centralizing fortress of the old wealthy power-bloc supreme among them.