Metacurrency Digital Platform

 

Movitivation for the Metacurrency Platform

New technologies drive phase changes in society:

  1. Writing enabled the jump from small scale tribal society to large scale urban civilizations
  2. The printing press enabled the jump from monarchic to democratic society

In each of these cases the new technology not only solved particular problems of the era but also served as a platform which fostered an explosion of creativity and development in unpredictable directions. Metacurrency is a digital tribe consisting of visionaries who see the central role that currency systems play in empowering the people of the planet to create a sustainable future . They are designing a platform which they hope will serve as a foundation for the next big phase change.

Modern society is at a pivotal juncture with similar large problems that need solving:

  • environmental destruction
  • social inequity
  • continual war
  • rampant consumerism

The Metacurrency team believes that a new economic paradigm based on open digital technologies can act like writing and the printing press before them, and form the platform upon which new social structures can emerge which eliminate the current set of problems plaguing humanity. The team members are a tight-knit community that come from diverse backgrounds and are active in overlapping areas:

  • Art Brock has designed countless alternative currency systems and his software company Lifeblood Design has built and deployed dozens of those systems.
  • Eric Harris-Braun, for example, works with The Transitioner network and sits on the board of the New Economics Institute, which also champions fundamental economic reform
  • Alan Rosenblith is also a film producer who produced the film The Money Fix
  • Jean Francois Noubel is founder of The Transitioner Network
  • Fernanda Ibarra also codevelops for The Transitioner network and an internationally recognized figure in the new discipline of collective intelligence
  • Lauren Higgins explores the Future of Money in the field of financial innovation, Lauren’s work focuses on using open source software to design alternative and complementary currencies, metrics, and incentive systems

 

The MetaCurrency Platform is an ambitious suite of technology components that the creators believe could constitute this era’s pivotal platform technology. It’s design is based on a number of underlying assumptions:

  • Social groups are like living organism in that their health is the result of highly coordinated flows
  • Coordination of flows is inherently an embodied informational process

Formal Information Systems that are Broader than Money

  • In modern societies, money is the fundamental informational tool used to coordinate flows of goods and services, in a process most often called “the economy.”
  • Money is one of a whole host of such information systems that make visible and allow the coordination of flows
  • It is not widely understood that money is an instance of a broader category
  • The broader category of such information systems (what we call currencies) are those formal information systems that mark flows, which makes them visible and allow us to interact with and shape them
  • There is not only material flows, but flows of all types, like flows of social participation and attention.
  • To make this broader category accessible and visible, a meta-informational capacity, a kind of grammar and syntax is necessary that makes construction of all sorts of currencies possible

Features of a Meta-Information System

Such a system that fills the requirements necessary to be the expressive enough to allow scalable, wide-spread and easy implementation of currencies of all types will need to address the following technical components:

  • a way of identifying the agents that comprise the social organism that will transact
  • a common grammar and syntax in which to express the statements that constitute valid transactions in the various currencies
  • a medium of transmission for the transactions
  • a reliable record of the transactions

These components could be designed, (accidentally, or purposefully) to yield concentration of power if any one of them were controlled by a privileged minority. In many cases it is argued that for the good, or the security a system, or for practical reasons, there needs to be a privileged minority to watch over a particular component. For this reason, the team has designed unenclosability into the system:

Fundamental UNECLOSABILITY design criteria:

no such privileged group is necessary for any of the four fundamental components of the system, thereby ruling out inequitable gain for a minority

In that spirit the Metacurrency team has named the four components of the system:

  • Open Identity
  • Open Rules
  • Open Transport
  • Open Data

 

 

 

(Source: Metacurrency)