The USD is a reserve currency for many countries so I’ll stay on the topic of the USD for this case study. I’m a politically social guy, not a developer, so ill have to keep it “big picture” and conceptual.
imagine this… Humans have a heartbeat that produces life. This beat of blood keeps us alive every day without having to think about it. When the heartbeat stops, the body stops, and we die. I want to use Holochain to turn the heartbeat into data. This can be done by simply measuring our location using location services on our phones. If my location changes, I’m alive. Yes?
There is a consensus that I’m alive when another person notices I’m moving around. It happens with my personal eyes or if I visualize it on a phone, lets say a google Maps application(I see their dot, just like they see my dot on a map).
This consensus is proof that they have a beating heart. More importantly, It’s a consensus that they are using human energy to move around. If I see their location moving around on a map, It means they’re alive.
Get this… fiat money is backed entirely by the full faith and trust in the government that issued it, and debt to set the price in stone. Meaning that we as citizens of the United States generally consensus that USD is our income and is backed by that consensus alone. I’d like to legally change this. As a political guy, I have every ability to. Here is how… If I validate another person’s existence by viewing their location, It’s a fact that they have publically given their data out. So, that data is worth money. Not only did validate their existence, but I validate the country and its currency.
Here is where it becomes a deep dive for me… I need to know how much that data is worth.
If I can make a consensus that the person sets the price for the transfer of data(location) then it becomes the set price. This can fluctuate, causing the inflation of money to go up or down. Ultimately, changing debt as a “set in stone” to money being valued by the heartbeat.
If another country wants to validate its currency by heartbeat consensus, it removes the USD as a reserve currency, ultimately making every currency independent.
It’s hard for me to explain exactly, but I believe a Holochain developer and I could hash out the issues If I can get a 30-minute conversation with one.
I have no coding skills, but I believe it is possible with Holochain.
Please let me know what you think as other forum users. Thank You.