Why Data-as-Value is Crisis-Proof
In the wake of Covid-19, it has become more than self-evident that securing your financial future is something no crypt or the mainstream economy can (could or will ever be able to) deliver on.
Ensuring the Future isn’t a Rinse-and-Repeat of the Past
Governments and big business will not step in to fix the current economic crisis. (If you’re in the position we are in the UK, any government assistance could take weeks or months to come into effect.) Nor in its current form will crypto be able to fix the economic mess we have sleep-walked into; even stablecoins are only designed to militate against volatility by value-pegging and collateralisation, not deliver to users a user-centric asset they control the value of.
Fiat and crypts are equally at fault in failing to secure us against this current threat. Hence, crypto, the financial markets and the global economy are powerless to support you or your financial future.
That game is over, so to speak, on a now very palpable Emperor’s New Clothes-level.
It is now up to us as the Decentr community to do something to inure society against the all-too-predictable cycles of boom and bust we seem with the current economic system to be destined to repeat every decade or so.
Using Adversity to Create a Better Future
Let’s flip the current situation on its head; let’s stay positive about the potential of our tech and economic models and consider for a moment how this current pandemic could have played out in socioeconomic terms with our tech and deconomics model in place.
Data value, being pegged to Dec, is an asset that would have accrued value in the wake of the heroic efforts of those who are on the front line of this pandemic.
This paradigm would have achieved this through the data generated by their research and communications activities, providing much needed additional capital to continue these initiatives. Ditto for government, charitable and other public and private agencies pursuing similar initiatives. Ditto for central and commercial banks and PSPs that would have had more money to lend to those in need and at better rates (instead of raising mortgage rates, as some UK banks have, scandalously, done), the data generated through responsible lending further increasing the value of their data and hence the underlying value of anyone HODLing Dec.
A Perfect “Circular” Economy
And for the rest of us stuck indoors during lockdown? Data is an asset that would have accrued value for all those in self-isolation who had nothing but data to be generated due to the fact their devices were their only means of communication, mobile working, etc.
Even reading and responding to this article would have increased your data value.
The fact that this data value underpins the value of our token, Dec, ensures its utility through our PoE protocols, whilst also ensuring the stability of the alternative economy it creates is uncorrelated to the financial markets.
In other words, our token, operating in the 100% decentralised internet we create, is immune to the vagaries of the financial markets and any third-party manipulation on the part of bad actors or, worse, global threats like the one we are currently experiencing — regardless of severity or scope.
Our platform + web browser ensures our digital token does what they were designed to while offering all of us a secure financial future.
Official Links for Decentr:
Official Email Address: Admin@decentr.net
Official Website Link: https://decentr.net/
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Official Medium: https://medium.com/@DecentrNet