Why Does It Matter?
A large portion of humanity is experiencing a monetary, social, and environmental crisis, at the same time. Each of these issues, while spoken about by leading politicians and media, have yet to led to any systemic solution. Without a real systemic solution that addresses all factors together, the consequences to the future of human civilization may be disasterous.
The Monetary Crisis
The world is currently facing a number of economic challenges, including a crisis in the value of the US dollar as a global reserve currency. This crisis has been building for some time and is linked to a number of factors, including the increasing levels of national debt, the rise of other global economies, and concerns about the long-term sustainability of the current economic system. Although other countries are aiming to replace this system, this would likely lead to significant changes in the global economic landscape, which historically creates societal instability and conflict worldwide, distracting humanities much needed focus from the Social and Environmental crises.
The rise of decentralized money, particularly Bitcoin, has for the first time, created a monetary system not tied to any particular nation or government, making it a politically-neutral, fixed-supply alternative solution. However, the Bitcoin and broader crypto ecosystem is not without it’s challenges. A vast majority of Bitcoin and crypto are held on centralized exchanges, making the possibility to create a new system much more difficult.
The Environmental Crisis
Humanity is currently grappling with an unprecedented environmental crisis, primarily driven by climate change, biodiversity loss, and pollution. Three major warning signals underscore the severity of this situation: first, the rapid acceleration of extreme weather events like hurricanes, droughts, and wildfires; second, the alarming rate of species extinction, which is disrupting ecosystems and the balance of nature; and third, the widespread pollution of air, water, and soil, adversely affecting human health and the planet’s vitality. If these issues are not addressed, the future of humanity faces dire consequences, including widespread food and water shortages, catastrophic natural disasters, and the displacement of millions of people, potentially leading to social and economic upheaval on a global scale.
Unlike traditional systems, which are often controlled by a few large entities (like governments or big corporations), Regenerative Finance on Ethereum, has enabled a broader range of stakeholders, including individuals and small organizations, to participate directly in funding and decision-making processes. This ensures complete traceability of funds, making it easier to track how money is spent on projects, reducing the risk of corruption, mismanagement, and lack of public trust that traditional ESG systems are now plagued with.
The Social Crisis
With the rise of centralized social media platforms, driven by algorithms designed to capture and monetize attention, manipulate human psychology to foster addiction, spread misinformation, and erode privacy. These centralized for-profit platforms gather detailed personal information, which can be used to train more sophisticated AI systems, and accumulate more and more data, driven by the economic model of attention and engagement, which has significant implications for privacy, autonomy, and democracy. As the immense power of these platforms, begins to couple with advanced Artificial General Intelligence (AGI), could lead to full control over individuals, exacerbating societal divisions and undermining human well-being for generations to come.
While decentralized social media attempts have been made by in the past, the need for collective action and ethical alignment in the development of their social network protocols, to ensure that it serves humanity’s best interests rather than undermining them, is of paramount importance for humanity to solve in the next 12-24 months before it may be too late.