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Token Economy, Blockchain Agriculture
I think it was Jim Meade that brought this up and perhaps Successful Farming did a article about it a few years ago. But it was too new and went over my head, I still don`t understand it. Yesterday Ric Edelman was talking about, graphic art selling for $10s of millions, sports trading cards $ thousands and a common person may sell pieces of his $500,000 home to investors to generate cash. A little like the old school "reverse mortgage" without some of the headaches.
I immediately wondered if farmers will take advantage of this (if it is an advantage) and i came across this recent article from Forbes. I guess this explains the Bitcoin going absolutely nuts as of late.
snip:
Can tokenization really alleviate inflation for developing countries around the world? This is a common question amongst modern-day economists and emerging technology enthusiasts alike. It turns out that tokenized agriculture via blockchain technology is indeed providing significant opportunities for crucial economic relief.
A prime example of this brings us to Argentina, where farmers are grappling with a plummeting peso amidst pandemic uncertainties, with net currency reserves near zero and inflation risking to 40%. Tokenized agricultural assets could offer farmers the ability to seek a hedge against inflation and access liquidity via certified financial titles accessible by both national and international investors. With more than 40% of the world’s soybean oil and soy-meal production coming from Argentina, it is of great national interest that smallholder farmers can liquify their real, physical assets.
Agricultural-backed tokens are becoming a critical solution to solving volatility and liquidity issues inherent in most cash and stock-based saving plans. As such, tokenized agriculture has the potential to help developing countries generate more investment and export opportunities across a range of agricultural industries.
Speaking with Coreledger, a platform that allows businesses to access the benefits of blockchain technology, they shared news of their new partnership with Abakus, a soon to be launched P2P marketplace. Together they aim to launch a digital barter economy in Argentina, enabling farmers to tokenize their agricultural assets and seek relief from looming hyperinflation. Such a marketplace would enable farmers to redeem and trade their tokenized titles with any other tokenized asset on the Abakus platform. This means that soybeans could effectively work like an asset-backed currency, and be traded for cattle, corn, or even the peso.
“In an inflation-stricken country, access to physically-backed assets can be the difference between surviving and thriving for these farmers”, said Johannes Schweifer, CEO of CoreLedger. Meanwhile, Martin Furst, CEO of Abakus commented, “the tokenization of agricultural assets brings greater agency to farmers who can now sell the physical-backed assets according to their own needs.”
So there you have it, a soy story of sorts, a new use case of how tokenization can help developing communities. It remains to be seen whether agricultural-backed tokens truly solve volatility and liquidity issues inherent in cash and stock-based saving plans. The argument in favor is that these tokens become actual stablecoins, backed by real assets, not unstable fiat currencies. Tokenized agriculture will no doubt provide an opportunity for developing countries to generate more investment and export opportunities across a range of agricultural industries, improving financial inclusion on the ground, and giving locals a medium of exchange that’s not at risk of devaluation.
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Re: Token Economy, Blockchain Agriculture
Blockchain technology, crypto curriencies and their legal tender applications utterly mystify me. They seem too volatile in their present form. They also seem subject to angering IRS agents and their equivalents around the world should the crypto become too powerful.
So here’s a hypothetical case. Suppose you own 100 acres of productive Iowa farmland valued at $1 million. Then suppose a man shows up and offers to pay you double the worth of the land (i.e. $2 million) in blockchained Bitcoin. You agree.
The transaction is completed. The man now owns the deed to your former 100 acres of land. You, for your part, get to own a super secret algorithm (a.k.a. Set of unique and verifiable numbers).
One year, five years, or even 100 years from now, most of us might take some educated guesses as to what will be happening with the originally transacted farmland. The blockchained Bitcoin, however, is another matter entirely.
The question then is, even if offered a premium, are you better off owning the hard asset of farmland, soybeans, John Deere stock or the crypto currency algorithm? Ownership of hard property in a free country should be as good as the government that protects the property rights of the individual. Possessing Bitcoin for any length of time appears (at least to me) to be fraught with more risk than I could ever sleep with...if that makes sense?
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Re: Token Economy, Blockchain Agriculture
It is a matter of "Can he convince you this idea he claims to possess has value" or even actually exists from day to day.
There should be a green universe ordinance against such things
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Re: Token Economy, Blockchain Agriculture
the American dollar is backed by the full faith and trust in the American Nuclear arsenal.
What backs up the Bitcoin?
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Re: Token Economy, Blockchain Agriculture
A concentration of wealth in tech nerds with limited educations??????
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Re: Token Economy, Blockchain Agriculture
What could possibly go wrong?
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Re: Token Economy, Blockchain Agriculture
Did Bernie Madoff , have the wrong label on his product - maybe - ?
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Re: Token Economy, Blockchain Agriculture
Note only that Bernie ran his Ponzi scheme for more than 17 years.
Oftentimes it takes a severe fiscal crisis to reveal who the bad actors are on Wall Street. Ironically, embezzlement actually goes down in hard times. This is because when money becomes dear, people begin to watch the books much more closely. When the additional scrutiny occurs, scam artists like Madoff are either outed or become increasingly circumspect about engaging in any new criminal activities.
Then there is Tesla, GameStop, ESG investing, and Bitcoin... but this time its different, ehhh?
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Re: Token Economy, Blockchain Agriculture
Events are strange, I recall the "80s farm crisis" I thought "farmers will be gun shy going in debt again" I couldn`t have tea the tea leaves more wrongly. The stock market crashes, some nervous Nellies do cash out, but ultimately more suckers always come in and push it to even higher levels.
Admitting that you are a socialist is far from the political kiss of death these days over 43% of Americans agree with you. There are other examples of why "this time is different" not that I like people not getting their hand burnt touching a hot stove, it`s just I have 3rd degree burns all over my body just waiting for those touching the stove to get burnt 🙂
https://medium.com/illumination/in-2030-youll-own-nothing-and-be-happy-about-it-abb2835bd3d1
snip:
1. “You’ll own nothing” — And “you’ll be happy about it.”
That is an adamant one.
Since the early humans, we wanted to own something; either a cave, a land, a flock of animals, tools, furniture, a house, etc. Humans wanted to own, like how animals mark the borders of their territory. Perhaps, this is an instinct we cannot resist. It gives us the feeling of security and stability amidst the volatile, unclear, complex, and ambiguous life characteristics. Owning is like leaning our back to a stone when fighting with an enemy. We avoid our basic fears and create a comfort zone.
However, since the end of the gold standard and the start of a global money printing experiment at a global scale in 1971, while strengthening the USD`s global reserve money status, citizens of the world have become the victims of an endless debt cycle. In this system, you can print more money than the amount of gold and silver in stock, which creates inflation and more debt. The lands, mortgages, and other financial tools gave you the riches of the old kings and aristocrats but at the expense of stealing your freedom. The current system created economic slavery, a different version of the post-Renaissance slavery that came with the colonization of underdeveloped cultures and nations by the technologically and financially developed countries. The more you buy with debt, the worse and longer slavery is in modern times.
This 2030 prediction pointing to the end of ownership means buying everything with more debt.
Moreover, if everyone will rent everything from homes to furniture, computers to clothes, there will still be some owners of these goods and services. They will surely be the giant corporations that exist today or will be a part of our lives soon.
What if they do not let you rent anymore or increase the prices?
What if you have to sacrifice your freedom to improve your credit history to continue renting.
That new system could quickly end up being a control and manipulation strategy to create a new wave of unconscious slaves who should act like good boys and girls to buy what they want. Is this not like the continuity of the Medieval Age`s feudal system?
Think about this. Would you want that?
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Re: Token Economy, Blockchain Agriculture
CONsolidation is a brutal , clever , financial gimmick' ty , with daily happenings present in your photo - - -
BA - the photo is priceless , and just imagine the tribulation of attempting to verify the contents of up to
20,000 T E U on this U L V C - - -
EVER GIVEN , might be the keys to reality 101 , and the 96 ROW planter - maybe ?