Crypto has been taunted as the savior of economic disparity; a bridge to Eden from the Mordor of capitalism.
Which, ok ... I'll bite ... but how do the already under-banked and disenfranchised get involved in the first place ..?
Though perhaps that isn't a fair question, it's too broad and so I inquire ...
If you only had $100 to invest, and maybe say ... $25 after that, every month ...
Because for SO many in the world, even being able to gather, or save, the equivalent of $100USD is quite a feat; and then, to put that money into something as volatile as a stock market ...
Well, if you could take the risk, where would you put that $100 in crypto ?
#HODL vs what ?
To be honest, very much like FOREX, penny stocks and the stock market itself ... the hype does the danger a disservice ...
While again, the stock market is also supposed to be a vehicle for the "common" person to participate/benefit more directly from the economy.
Though where does one start?
Too often the assumption is that one has $10,000, $5,000, or even $1,000 in disposable income to invest; when studies suggest quite the contrary ...
If you had actual small dollar capital to begin with ... you had to start with $100 to begin, and could maybe add another $25-40 per month, what would you do ?
Brass Tacks & Hard Facts
Rely on luck or pray for years of research to miraculously make sense ..?
The aspiration is to work with others; while also starting this conversation. Or such is my aim; below I state my proposition, and I'd love for you to join me on this adventure!
The pandemic has only seemed to illustrate economic disparities and delusions the world over (African countries asking to buy vaccines, instead of being told to wait for donations.)
These problems are in need of solutions;
No, crypto isn't perfect, I can't think of any solution that could be, which doesn't mean there isn't any ... but perhaps we're been off looking for success in the effort and journey.
It would be obscene to act like I remember everything from my econ classes, thought ... I have a few ideas as well ...
How does one on-board those, already distanced from economic resources, to a consistent and humane means of economic remuneration for their efforts ?
First one needs to recreate a widget that actually has real-world capacity for value ... this widget needs to be something that anyone can create, needing literally nothing other than their phone. Mobile proliferation rates are incredibly high in the Global South.
Assuming one has done that ... one then creates a platform where these valued-widgets are exchanged for tokens which can then be exchanged for fiat.
Am I going in a reasonable / cohesive direction ?!?
Though the next question becomes, what is the exchange rate to fiat ?!
Sure some of the stable-coins are interesting, etc ... though for the vast majority, transferring to fiat will need to be an available option for the near and mid-term future.
It wouldn't feel right being a bunuelo with crypto anyways ... jaja
So how does one maintain that value of exchange; enough to make the original contribution worth the original effort, and compensation.
Back to our question at hand ... the original contribution, has what value ?
It is a store of knowledge (SoK) that others can use to enhance their personal stores of knowledge. Next, one person's use of this contribution does not degrade/depreciate its value either.
This SoK is then enclosed within a walled garden, collected with other SoKs.
People need not pay to enter this walled garden; though that is perhaps an option, entry can also be free.
Revenue is then generated by being able to access tools which make the garden experience more personalized for each user.
Though it is the original store of knowledge, around which these gardens and up-sales are built ... ergo ... these additional use-cases and experiences are what primarily contribute to the value of the original token given in exchange for the original contribution of knowledge.
How am I doing ?!? Is this still sound coherent ?
iTalki has a unique format whereby users purchase credits in their home currency which are then used like a common dollar on the platform.
One could either pay for credits/tokens; or one's previous contribution be paid in tokens, which could then be used to purchase other products on the platform ..? Or exchanged for fiat ...
Honestly, I'm new to this entire conversation; I've been watching from the fringes, reading a few articles here and there; watched a few videos ... I'm interested in Solana, though the fact remains, I don't have much disposable income to take these risks.
Though I just had an idea; I wrote a few other articles for which I'll be getting paid ...
Half of that money I'll keep in fiat at the bank, and the other half I'll invest based on the feedback of my questions ...
So back to the question at hand ...
If you had $100, how would you invest it ?
If you'd like to participate in the conversation, I'll post it over on Discord.
I'll continue writing about my thoughts and adventures in crypto, starting with maintaining this entrance piece about my understanding of DAOs, wallets and how to start building in web3.
If you'd like to read about how I got into computers and coding ... here's that story:
Yes, I am a big of a "diversity & inclusion" / swj nut ... though I also think is just intelligent economics and community organizing ...
I write poetry and record music as well; though writing this little fantasy tale has become a darling pet project ... it is the continuation of a very short story I first wrote over a decade ago!