On Saturday, September 22, 2018, Richard Wilbur richard.wilbur@gmail.com wrote:
On Sep 21, 2018, at 20:02, Christopher Havel laserhawk64@gmail.com wrote:
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Interesting economic scenario. I think it works best when the arbiter of the exchange rate for goods is impartial. Otherwise the exchange rate would be influenced by biases.
This is where blockchain on a global scale helps at a local one (if adopted properly) as the maths of PKI is inviolate and now well known if only indirectly.
It is the first time in human history where third party arbitration may be replaced with inviolate mathenatics.
An individual selling at a biased rate will have that unfair exchange recorded forever. If all sellers refuse to use anything other than that mechanism, no unfair exhange can take place.
So the trick is, to identify those locations and communities who are being taken advantage of and offer them something inviolate. Westerners have not had to live the same kind of hell described in Professor Yunus book, so the innovation for real economic change is unlikely to sprout there.