From Autonomous Cities to US Presidency: The Future Is Now Film Shows What Blockchain Leaders Think About Governance
June 23 2022 - 5:41AM
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The first cinematographic NFT project “The Future Is Now Film”
shows what blockchain leaders think of future governance systems:
will there be even tighter centralization, a symbiosis of
traditional and new methods of control or do we need a totally new
governance system to replace the old one? Answers to these
questions can be found in the two latest episodes, “Transforming
The Future” and “Aligning The Future”, which were filmed at the
AIBC Summit UAE 2021 in Dubai and Blockchance EU conference in
Hamburg. Let’s dive deeper and see what futurists think. Blockchain
Is Getting Closer to Traditional Institutions Several years ago, it
would have been a bombshell to see government officials at a
blockchain conference. Now, in both the AIBC Summit in Dubai and
Blockchance EU conference in Hamburg, government officials are
among honorable guests for two reasons. First of all, the scale of
the change made them notice the inevitable. Secondly, some of the
“decentralized futurists” have joined the ranks of centralized
organizations in hopes of making a difference. For example, H.E.
Justin Sun, the founder of TRON, recently became an ambassador to
the World Trade Organization on behalf of Grenada, a country in the
Caribbean. In his view, cryptocurrency projects today are “way more
efficient than the financial infrastructure that we have today” and
now he plans to pave the way for mass adoption. According to Fabian
Friedrich, the founder of Blockchance Group, one of the reasons for
the Blockchance EU conference to exist is the need to bring
together different market players especially the decision-makers
who currently govern traditional systems “to take the fear away and
show them how positive this movement is, how many chances are in
the movement for a better future”. Some have already achieved
tangible progress in establishing the dialogue. Fabian
Vogelsteller, co-founder of ERC20 Protocol, shared that
negotiations with regulators despite the “back and forth” nature of
the process, have already brought positive results because
“everybody sees the benefits of this technology” while of course
the “old has always had the interest to survive”. Will Governments
Have a Saying? According to His Excellency Justin Sun,
decentralized currencies are more advanced not only on the
technological side but also on the philosophical side as they drive
the inclusion of smaller countries. That is why it will be only
natural for countries to “start to diversify the countries’
reserves” also by building the central bank digital currencies but
“the philosophy behind CBDC’s will determine their results”: they
could either join a competitive system or “undermine the reputation
and the influence in the market in the first place” if they are
made to be an appealing asset to use next to cryptocurrencies, for
example by simply functioning as a financial tracking tool. Justin
Sun believes that when the barriers of the traditional financial
system go down, everyone benefits. But according to Brock Pierce,
the 2020 US Presidential candidate from the Bitcoin Foundation,
there will be beneficiaries and losers. In his view, Dubai, for
example, will be the beneficiary of change because it “is doing a
good job recognizing the change and adapting to it” but those who
resist the change will suffer: “Look at Florida and Miami, they are
doing a good job… They are the beneficiary of the change. That is
what happens when you embrace the future. You get to be part of it.
Resist it and it runs you over. The future is coming” Prominent
venture capitalist Tim Draper whose Dad fought in the Korean War
has shared a vision of what resistance to change could look like by
giving a historical example of North and South Korea as a full
government control system versus a “free and open society with
democracy” 70 years later: “Average South Korean now makes 430
times what the average North Korean makes in a year, and that is
when you adjust for purchasing power. And the average South Korean
is 4 inches taller than an average North Korean. It is pretty clear
to me which system works better” Dubai: Safe Harbor for Innovations
One of the biggest gatherings in the blockchain community held by
Eman Pulis & SIGMA Group AIBC Summit UAE 2021 has been held in
Dubai a few months prior to Blockchance EU. Dubai is among the
first cities that are “taking a tangible stand into abundance and
allowing decentralization to flourish” as it is stated by Miguel
Francis-Santiago, the Founder of The Future is Now DAO and the
mastermind behind #TheFutureisNowFilm, with initiatives like the
UAE Crypto Map. Dubai is “on its way to becoming self-sustainable”
by leveraging the power of innovative-based ecosystems. Under the
leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum,
with a plethora of initiatives headed by Dubai Blockchain Center
and the work of its CEO Dr. Marwan Alzarouni, creating a safe
harbor of innovation. And the safe harbor has already brought some
fresh fruits. Matthias Mende has launched an innovative celebrity
marketplace Bonuz Market just after a couple of years of residency
in Dubai and now the project allows celebrities around the world to
engage with fans within an NFT and Metaverse platform. Sergej Kunz
with 1inch Network bridges the crypto world with traditional
banking by working with such regulated institutions like Sygnum
Bank. The 1inch Network solution became the deepest liquidity
aggregator in the DeFi space: the platform reached over $120
billion in transaction volume since its inception by solving the
problem of high entry point and barrier to use cryptocurrencies.
Salim Ismail of OpenExO, former CEO of Singularity University, by
creating pilots with such traditional businesses like Procter &
Gamble, Gucci and KPMG, created a space where new transformational
methods of running a company between exponential organization
structure and traditional businesses can now pave the way for
preserving synapses of the human brain. The US Presidency: to the
“Belly of the Beast” According to Ilya Churakov of the
decentralized ecosystem Global Digital Club, such bridges need to
be built in the “right way” so big opportunities could scale fast
and reach mass adoption. But to learn the “right way” we need to
study the old one, believes Brock Pierce, the 2020 US Presidential
candidate from the Bitcoin Foundation. He dedicated his utmost
energy to running the US presidential campaign during the 2020 Year
of COVID, in order to understand the mechanics of the political
system better and get ready for the next stage in making actionable
change: “Why would I subject myself to such a thing [as a
Presidential Campaign] if I was not committed to following all the
way through… Let’s say it was an exploratory mission. To understand
the mechanics of the system, you need to go inside the belly of the
beast, to learn how to run a national campaign without any of the
existing infrastructure… without any of the funding mechanisms that
allow politicians to run for office, without a political platform…
and to do it in the midst of COVID. My basic training is complete”
According to Crystal Rose Pierce of Sense.Chat, only by “creating
the bridge” between traditional systems and the decentralized world
can we explore how the interests of different people can be put
together for mutually beneficial growth. For the Pierce couple,
there is no goal to simply replace the old with the new, there has
to be a dialogue. El Salvador: Dreamland for All Nations El
Salvador has been creating this bridge perhaps like no one else in
the current political system, while becoming the first country to
make this brave step towards economic freedom. As a country, they
seek to voice their opinion, and make their opinion visible despite
the pandemic crisis that was happening in the world at the time and
a very clear recommendation from the International Monetary Fund in
November of 2021 – not to adopt Bitcoin as a legal tender.
Nevertheless, they are going forward with the Bitcoin
infrastructure in the country as they are seeking economic freedom,
the dream of all nations. William Soriano, a congressman from El
Salvador and a prominent Bitcoin advocate, explained how Bitcoin
can help other countries by sharing how his homeland plans to
“achieve the next level of prosperity”. The first benefit is
cutting the unnecessary costs: “Civil war led to 3 million people
leaving the country to the US. Those people send 7000 million
dollars yearly of remittances. That makes them pay 400 million
dollars in fees to companies such as… Moneygram… Ria etc. And this
is just El Salvador, a small country…” The second step is financial
inclusion. In just 3 months, financial inclusion reached 80% in El
Salvador, rising from 1.2 million to 3.8 million people having
access to a financial system. Finally, the country set up a plan to
use natural resources like volcanoes and geothermal energy with the
use of “volcano bonds”, a decentralized financial UBI-type
instrument. According to an SDG advocate at the United Nations and
the World Economic Forum, Marc Buckley, all countries should follow
the example to “stop recreating” a cycle of insanity that leads to
financial bubbles following a downturn, on constant repeat – a
model Marc believes the world has been viciously revolving around.
His Excellency Justin Sun is confident that countries in the
Caribbean region will certainly follow the El Salvador example. But
we can hardly expect all governments to act and follow this
example, so what are the alternatives? Dying Animal vs. Autonomous
Private Cities Dr Wolfgang Pinegger, founder of GLBRAIN and CEO of
GAMB, believes that “centralization is everywhere”: from social
media to banking and governments, the only light at the end of the
tunnel being cryptocurrencies which might be “the only way to
escape the centralization step by step” with a proper use-case.
That is why GAMB Power To The Merchants has developed a solution
that solves a major issue in the crypto space – high transaction
fees for day-to-day operations. The company has presented a coin
with zero transaction fees that will work also in countries where
1$ is a substantial sum for a crypto transaction. This will
consequently bring cryptocurrencies closer to mass adoption, and
therefore reduce the centralization. In Wolfgang’s view the change
might happen quite naturally with a mindshift that is already
happening in the younger generation: “But the young generation has
already realized that they do not want to be part of this game…
(ed. centralization) and the young generation in itself will just
change it. Many people from the centralized world will not even
realize until it has happened” Veronika Kuett, who works on
autonomous systems with Tripolis Corp., thinks that centralized
money is “the most powerful tool” that the government would not
wish to lose, since it allows them to “inflate” and “debase the
money of everyone else”. Governments might react with tightening
centralization and they might even succeed in the short term. Of
course, printing money helps governments pull resources together
which means attracting people “to set up control structures”. But
in the end, “this animal has cancer and therefore it will die”.
That is why there is no need to waste energy on reforming central
banking when “we need to rethink governance” to set up new systems
instead: “The strategy is to spend the least amount of energy
focusing on old systems but rather build the future, educate people
and make them join the new system” One of the solutions according
to Veronika is “to have many thousands of smaller entities where we
have bonded communities, where we know each other, we trust each
other” to “get rid of this anonymity that we have as residents in a
very large nation”. The demand for autonomous private cities is
already there with many innovative libertarian thinkers facing the
limitations of “government’s ever-changing rules”. Irina Litchfield
of the Global Autonomous Network also shares an opinion that we
need to “create new models of living through autonomous lands,
agrotech and regenerative farming, blockchain, new space and
beyond”. If Mars colonization would make us rethink governance, why
should we not start now? What’s Next? What does the future hold?
What sort of future can help humanity reach sustainable goals and
how? Follow new episodes of #TheFutureisNowFilm and don’t miss the
future through the thoughts and accomplishments of the most
innovative minds in the industry. TFIN DAO team and the show’s
creator Miguel Francis-Santiago are already working on new episodes
filmed in Dubai surrounding the WoW Summit and a 2nd edition of
AIBC Summit Dubai 2022 with the support of the NFT-vehicle that
will allow for this roving crypto documentary to be featured on
such platforms as Netflix, Amazon Prime, and Hulu. To see the
retrospective of the blockchain world’s progress, watch the film
series 5 year trailer that sums up the last 5 years with over 20
gatherings around the world that Miguel Francis-Santiago and the
team have attended, over 19 episodes have been filmed so far and
over 15 countries explored through the lens of The Future is Now
Film. Join the conversation and become a part of the community by
supporting TFIN DAO. Be part of the #TheFutureisNowFilm movement –
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