@BCHAdvocate 21 April 2021 more from that month

What are the breakdowns in economic conventions? Below some of these developments (we aim to talk about each a little bit more detail in the series of posts here soon). 1. Debt and equity. A breakdown of the distinction between debt and equity (convertible bonds, preference shares, total return swaps) opens up new ways of thinking about funding investment. Token issuance provides funding that is neither debt nor equity, albeit having some elements of each. 2. Money and other assets. A new liquidity in asset markets that comes with derivatives on money (interest rate, exchange rate) and the rise of high frequency trading creates a liquidity (convertibility) that breaks down the distinction between money and other assets. 3. Conversion to fiat money. Following, for traders, fiat money appears as a necessary, but costly, conversion point: something they have to ‘pass through’ as they shift from one asset to another. Tokens enable trade to ‘bypass’ fiat money measurement. 4. Nature of assets. The rise of ‘intangibles’ as an asset class which is now the predominant asset of most of the world’s largest companies creates a problem for corporate accounting, for these assets cannot readily be valued. Blockchain-based assets are, in this sense, no different from conventional ‘intangible’ assets. 5. Corporate organization. The rise of ‘networks’ as modes of corporate organization breaks down the conventional means that differentiate one corporation from another and challenges the principle of ‘competition’ as the driver of corporate rationale. These are both issues that feature prominently in decentralized applications. 6. Rationale of the production. Concern for the social responsibility of corporations, especially around environmental and human rights concerns, is being met by new modes of monitoring, moderating corporate decisions but never challenging the ontological primacy of profit-making as the goal of corporations. Programmable organizations enable production to be organized in a way that makes social criteria the rationale for production; not a constraint on it. 7. Distribution of risk. Changes in the nature of work (precarization, casualization, subcontracting, the rise of the gig economy) see workers carrying greater risks and break down the attachment of work and living standards to employment. There is growing interest in alternative ways of organizing work. 8. Trust in traditional financial instruments. The Global Financial Crisis of 2007–2008 created an economic environment of mistrust in conventional banking. Further, Quantitative Easing leaves on-going uncertainty about the stability in value of treasury bonds. New modes of financial trust look more appealing in the aftermath of these developments. https://medium.com/econaut/what-is-a-crypto-economy-155bdbc4ab1d