Kevin Bayuk: Is Cryptocurrency “Good” for the Next Economy?

Today, LIFT Partners Kevin Bayuk and Ryan Honeyman chat about the topic of decentralization and how this manifests to varying degrees within the blockchain and cryptocurrencies.

We start off with some simple definitions, clarifying the differences and relationships between the concept of a decentralized ledger, the blockchain, and the cryptocurrencies that use it.

The important questions here are around who benefits from these systems and platforms, and whether it is possible to create cryptocurrencies and decentralization that serve more people. This raises the important theme of governance and how it can decide the fate of a technology or company.

The last part of our chat is spent looking at historical and contemporary examples of decentralization, and how these can inform our vision of what a decentralized world might look like.

One of the most valuable ideas here is to position new technologies as ethical tools to build cornerstones of a more equitable world, with less self-interest and wealth accumulation.

Key Points From This Episode:

  • A quick definition of terms; decentralized ledger, blockchain, and bitcoin
  • The opportunities and challenges of reducing the exploitation associated with intermediaries
  • Looking at some of the more equitable examples of cryptocurrency such as FairCoin.
  • A litmus test for blockchain projects; avoiding self-interested wealth accumulation
  • The exciting work being done by the team at Regen Network on the Terra Genesis project
  • Considering a few historical examples of successful decentralized communities
  • Contemporary initiatives that are running against mainstream economic trends
  • Imagining a future of locally-reliant economies and the language necessary for this

Tweetables:

“I think it’s helpful to disambiguate cryptocurrency from blockchain. And even to disambiguate blockchain as a form of decentralized ledger.” — Kevin Bayuk, @LIFT_Economy

“Bitcoin shows up as concentrating wealth in very few hands, if you look at the ownership.” — Kevin Bayuk, @LIFT_Economy

“There are some things that add value over time, but in the long run, they decay. Imagine if we could design our currencies to be in alignment with the natural world.” — Kevin Bayuk, @LIFT_Economy

“The allure of hyper-accumulation of wealth becomes the main driver for a lot of the projects.” — Kevin Bayuk, @LIFT_Economy

“When we are able to help each other meet our needs without having these intermediaries there is less leakage and more local self-reliance.” — Kevin Bayuk, @LIFT_Economy

Links Mentioned in Today’s Episode:

LIFT Economy Newsletter

Join 7000+ subscribers and get our free 60 point business design checklist — plus monthly tips, advice, and resources to help you build the Next Economy: https://lifteconomy.com/newsletter

Next Economy MBA

What would a business education look like if it was completely redesigned for the benefit of all life? This is why the team at LIFT Economy created the Next Economy MBA (https://lifteconomy.com/mba).

The Next Economy MBA is a nine month online course for folks who want to learn key business fundamentals (e.g., vision, culture, strategy, and operations) from an equitable, inclusive, and regenerative perspective.

Join the growing network of 250+ alumni who have been exposed to new solutions, learned essential business skills, and joined a lifelong peer group that is catalyzing a global shift towards an economy that works for all life. Learn more at https://lifteconomy.com/mba.

Show Notes + Other Links

For detailed show notes and interviews with past guests, please visit https://lifteconomy.com/podcast

If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It really helps expose these ideas to new listeners: https://bit.ly/nexteconomynow

--

--

--

Partner / Worker-Owner at LIFT Economy. Co-author of “The B Corp Handbook.” Co-host of the Next Economy Now podcast. www.lifteconomy.com

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Quantum Computing — Is the hype real?

As Web 3.0 Grows, Debond Takes Derivatives to DeFi With ERC-3475 Token

How is Stable Unit Money different from UST?

Data source : Messari

Wolfonaire Chatbox : AMA With Polytrade (22nd June, 2021)

DigitalBits + Pundi X Interview with Ashton Addison

Wolfonaire Chatbox : AMA With Solanium (14th June, 2021)

CapGainz 🚀

Five reasons to look at a bear market positively.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Ryan Honeyman

Ryan Honeyman

Partner / Worker-Owner at LIFT Economy. Co-author of “The B Corp Handbook.” Co-host of the Next Economy Now podcast. www.lifteconomy.com

More from Medium

SAVAGE. A carbon-neutral content revolution!

Why are NBA stars so into crypto?

Strategic Partnership of Sharding Capital and ExcaLiBur Capital

Cybersexual revolution