The Development of World Peace

Basic principles, theory and demonstration of a digital, virtual, peer-to-peer Time-Based economy.

"Time is the only capital a human being has and the only thing he cannot afford to lose." --- Thomas Edison

Foreword

I make apologies in advance; this is not an easy read, nor am I the best author. This article is lengthy and gets technical, but try to see it through to the end. Skip the explanatory videos and ignore anything that goes over your head or that you don't agree with in order to get to my point, which I do try to accomplish in technical and layman's terms. This article poses a genuinely beneficial supplement for the human condition along with the initiation of world peace. The original article was first posted in 2014 and has been re-edited during the pandemic. Over the years, this theoretical solution has been read many thousands of times, which surprised me.

This proposed solution took a lot of postulating and endless research, undertaken over a 20 year period. During this time, I travelled around the world living as a digital nomad in 3rd world countries, observing how the world works whilst making ends meet on a veteran’s pension. The technologies mentioned herein are real, current, verifiable, uncomplicated, cheap to reproduce or mimic and easily researched by anyone. There are hyperlinks contained within the article text which link to the sources of the facts being mentioned but (please) question and research everything (always).

You may conclude from the information contained herein that many crypto-currencies are actually an unnecessary drain on global resources; however, people are so heavily invested in them ($trillions) that they can't be seen to fail. Blockchain cryptography, however, definitely has a future. Bitcoin will probably survive, possibly Ethereum too; however, others...

I strongly suggest you question this article in full using AI such as ChatGPT, as I did. When pressed, Chatgpt will quantify that a time-based economy would bring about more financial equality. Time could be used as an effective single global currency, despite the hurdles, but those who have money would oppose this for sure; they prefer the status quo.

Introduction

- It is said that 'Money makes the world go around' and ‘Time is money’... giving thought to these statements, what are the realistic implications in relation to your own circumstances? Financially and socially... Is time money?
With the days of barter long gone and fiat currencies on the verge of possible collapse, what is the next step in our economic development or evolution likely to be?
Would it be possible to improve upon the existing economic and monetary system or even replace it completely with something more sustainable? An economic structure based around something of actual ongoing value... And if so, how and with what?
Technology has come a long way; would it be possible to actually replace the concept of money entirely within a new economic framework?

The answer is yes, absolutely; a fair and just economy based upon [your] time or any other tangible asset of value is possible, at least technically. However, the political hurdles to accomplishing this are significant enough to say it may never happen and not any time soon.

Overview

Time is the same everywhere—yours and mine. An equal global constant that is both free yet priceless and has an intrinsic value determined by 'self'. Any economy based around the concept of utilising time as value would construe everything in such an economy as being the same for everybody, without exception—unparalleled equality, once and for all!

The devil is in the details, and the details of any time-based economic system are completely hypothetical, simply due to the fact that it has never been realistically possible to deliver one until now. The entire concept of using time as a value has been confined to the realms of fantasy and utopian idealism, but times have changed and technology has advanced.

It could be argued that this type of economy may become essential for the salvation of our species and be deemed necessary at some point in the future, primarily due to the human cognitive changes that would be inherent during the transition to a time-based system whereby your time defines your value and who you are. Ultimately, we are all in control of our own time and, therefore, our perceived value.

As the push towards globalism and one world currency intensifies, the integrity of individual societies and cultures should be maintained wherever possible. Much has been said of globalism, but little has been thought through as to how any capitalist form of globalism would or could be brought about and work, partly because the concept is counterintuitive. Capitalism, by nature, is dictatorial.

Circumstances would certainly come to the fore if the existing Fiat economic system did collapse at any point in the future, as many analysts are predicting. If this is the case (a massive financial global collapse), as devastating as it would be for many, it would also present the perfect opportunity to bring in a new system. A digital application designed specifically for a new age that would work for the betterment of the entire planet... [or not]; the quintessential One World Currency, constructed to be fair and infallible?

Give serious thought to these statements because they are already underway. This concept is definitely more than feasible, as today we stand blindly on the cusp of this very occurrence playing out in front of us all in plain sight, with crypto currencies such as Bitcoin and digital ID taking centre stage and cell phone 'track and trace' being the new normal. One world currency is only a small step away; forewarned is forearmed.

Capitalism and the Monetary Economy

In the West, we live in a predominantly capitalist, consumer-driven society where money means everything when fueling any economy. Economies are manually controlled (literally) by a very small minority of individuals involved within them: those holding the most capital or the richest .1% of society; referred to as the 'Ruling Class'. Their networks of institutions, corporations, and governments have the ability to tweak and manipulate any economy using the financial tools at their disposal, such as interest rates, exchange rates, inflation, taxation, investments, commodity prices, and more. This financial tweaking contributes directly to the aggregated control of the individual by the largest money holders in society. In a monetary economy such as ours, the more money you have, the more control and power you possess.

In consumer driven societies where industry manufactures tanks, bullets, bombs and guns it is necessary to create a market for these products in order to fuel other relevant and associated economies; locally, nationally and internationally. Put bluntly: we need to start a war to sell those guns that were made, or we won’t have any money to buy more... Stuff! Thus, we fuel our economies; War, is a racket. This ongoing economic process becomes cyclic and such has been the case for (literally) thousands of years. To a finite point war is predictable and systemic in capitalist doctrine... it becomes necessary to keep a war on the back burner in order to fuel the economy.

It is suggested that our species has been at war for 92% of its documented history. This statistic has to be addressed and rectified at some point otherwise peace is likely to come at the expense of an Extinction Level Event (ELE). Dr. Richard Dawkins, the famous bio-geneticist, academic and renowned atheist, states that anyone who doesn’t believe in evolution is ignorant and to a point I could agree… but I put to him that with 50% of all knowledge being lost in every war undertaken (losers) and with the estimated number of wars in our times ranging from between 10,000 to 250,000 in number; I'd say that our species is drastically devolving and not evolving at all. Darwin’s physical proof of evolution fails to take into account the change in environmental circumstances v’s the necessary physical evolutionary progresses. Or, controversially surmising Darwin: beaks have to grow if death and extinction is the alternative; otherwise you're dead... and extinct.

Due to the cyclic and predictive nature of war, along with the complicated relationship between economy, hostilities, and money, virtually any given financial scenario can be forecast over time with some degree of accuracy in almost any given economy. Computer algorithms undertake most of the data analysis today, and financial predictions are made from exceptionally reliable aggregated data. The global economy has evolved into yet another virtually transparent financial racket manipulated by wealthy bankers. This financial racket fuels the coffers of the growing war racket, and the cycle continues on. When war cries are heard, the stock markets hail hither. Someone has to rebuild what we're about to blow up, and then we need to make bigger, better guns and buy more stuff.

War is inherent and (regrettably) the weapons become more and more destructive as technology advances. Capitalist countries that produce weaponry and belligerently consume an abundance of products, Planned Obsolescence for example, can certainly be identified as being a significant part of the problem. It’s not to put blame upon any one nation for taking advantage of what just is a factor of our civilised society; it is after all human to do what comes naturally and take the good with the ... not so bad for some.

At some point, we all need to realise our own civilities, and quickly. Our aggressive consumerism and excessive greed could certainly be the end of society as we know it, in more ways than one. It is possible to highlight many instances of excessive consumerism; a recent example in the UK is the car scrappage scheme, along with recent amendments to the vehicle test certificate, making it much harder for cars to pass. They want all those cars off the road for a reason—you buy a new one. It is estimated that a brand new car has circled the planet the equivalent of 23 times during its making—more than it will travel during its lifecycle—and nobody seems to be seeing this as a problem.

Greed is good: can be described as being as close to surmising capitalist ideology or philosophy as it gets. Ironically, greed has been proven over time to be detrimental to all societies irrespective of the culture's nuances. Native American tribes know this and have been foretelling and prophesising the consequences of greed for...ever. This knowledge, was born out of watching this occurence happen locally within their tribes for over 8000 years... the longest known history on earth. Unfortunately, the advice from Native American Indian elders was passed down verbally in local dialects and dying languages through songs, stories and tribal philosophies. This was done purposely in order to inform future generations that they should learn from past experience. Many Native Americans and tribes don’t read or write (not as a rule) and their indigenous languages are being lost to English and Spanish... these are the fundamental reasons why many of them have been taken advantage of for generations.

In our society, their 8000 years of folk law and stories (sadly) bear no credence in the real world of today. This is in comparison to accredited, well-documented, peer-reviewed research combined with infallible empirical evidence undertaken by a 23-year-old post-graduate, which is understandable to a point. However, is it not somewhat questionable to cast aside thousands of years of factually verifiable advice just because it's being delivered by a wispy old Indian shaman with no teeth and wild eyes in a language you don't understand? This still doesn't equate to him being totally wrong...

A capitalist ideology comes with greed and combined with the production of weaponry creates an imbalanced ‘power to people ratio’... unwittingly endorsing A Military Industrial Complex... subsequently controlled by the wealthiest in society.

President Eisenhower, a former US general, warned strongly about this occurrence, but alas, we are now (sadly) living that version of reality. The wealthiest in society control the weaponry, and in that, there can be no surprise. With money comes power, which in turn facilitates primary access to technology and knowledge, and this is where the real power lies; therefore, it is contained.

In order to create change in the hawkish mindsets of politicians, we need to amend cultural methodologies and thus change associated thought patterns and cognition, or, to put it bluntly, we need to learn how to stop killing one another. If we don't accomplish this, the risk of perishing in some form of extinction-level tragedy is high. Armed revolutions, world wars, global warming, AI uprisings, or even alien invasions—who knows what the future will bring? So, the question still remains: how do we change our inherent and systemic problems, including those of war and climate change, along with the originating thought processes and cognition of (mainly, but not exclusively) men that create these environments?

Communism and instability

Karl Marx, amongst other communist theorists, believed that communism has revolution built into the very core of its ideology… whether you believe or agree with his conclusions or not, they demonstrate some credence. If you’ve read George Orwell’s Animal Farm, he illustrates this analogy quite profoundly. Post revolution; leaders rise to the top in order to organise and control subjects, who in turn become subordinate and conduct labour in the name of the regime under said leaders. Sooner or later subjugation enters into the system in the form of revolution or war; then the whole scenario starts again, with a new set of leaders and rulers.

Communism, it can be argued, becomes a recurring process of repeated failures at maintaining a stable status quo. There are also elements of human nature and emotion driven decision making that enter into this equation too; these normally involve greed, power, envy and jealousy. Money is never really the problem, it’s the emotions and stress associated with it, that’s where the real gremlins unassumingly lie… and in thus facilitates control of the masses by utilising our inherent human fear of being destitute and worthless, with no value.

The failings of communism led to the rise of a new form of political governance, socialism, or alternatively, the communist/capitalist middle ground. In theory, communism and socialism appear slightly more sympathetic to the poorer members of society. Unlike capitalism, which is somewhat opposite and seeks to benefit those with the most capital, or simply put, the rich get richer and more powerful, with the gap ever widening. However, betwixt capitalism, communism, and socialism, we have to break out of their systemic grips and somehow find common ground to unite all in finding a new and peaceful direction in which humanity and civilization should head.

Capitalism and communism don’t have the methodology or philosophy to facilitate this occurrence, they are both failing in multiple, demonstrable ways. Socialism however, is still a work in progress and does have the potential to redefine itself in our societies, with a view to making them intra-dependent... as is the academic benchmark for social progression. This is due partly to its supposed democratic flexibility and freedom of speech, if there is such a thing. Currently, in unto itself, socialism lacks any solid definition of best-practice hence it remains in a state of flux as to what exactly socialism is, as it is evolving along with us.

For example: Cuban socialism is significantly different to British socialism which in turn differs from say Russia or Canada, amongst others. So, for the want of better terminology let’s loosely define socialism herein as an explanation for ‘the collective of similar minded societies and cultures that look to trade toward a better lifestyle for all concerned, with peaceful intent’.

Many of the above-mentioned socialist countries have many localised environmental and social differences that reflect how they approach policy, law, economics, and business procedures. These can usually be narrowed down to one discerning factor, irrespective of demographics: gross domestic product (GDP). Or, to put it another way, it all boils down to money. It is the substance that provides all nations with their geo-political weight and defines the standard of living within any community, despite internal politics.

But what exactly is money in real terms? And how do we create a fair and just economic platform from it?

Defining money

It is first necessary to separate money from currency in order to define what money actually is; and please don’t take the dictionary definition as read… money is not currency. Money and currencies are very different, whereby money is value and currency provides the ability to exchange that value… or put another way, currency is the middleman in the exchange, where money is the value in it.

When you go to a bank and take out a mortgage or loan, what you are effectively doing is bringing new funds into the economy by trading your future time working in exchange for monetary currency in ‘the now’. This is a time to money transaction; it also indirectly indicates that you are conversely borrowing other people's invested time... as money.

Re-defined for the working and middle classes: Money is a physical representation of your time... Q.E.D. The wealthy already know this.
It implies status, brings forth self-worth, improves one's position in society, and determines one's lifestyle. The wealthiest in society have not only always known this, but they have passed it on to their descendants through generations. Time is physical wealth and money, which have been historically passed down through bloodlines.

Currency is an exchange format of and for the intrinsic value in any transaction. In this ‘Time is Money’ scenario you may identify that Money is now the middleman in the transaction of your time. So, as with all business, the monetary systems are all about quasi-middlemen, even in its underpinning philosophy. And in good business, it’s the middlemen we always seek to eliminate from the process... because they increase overall cost.

So, what would happen if we were to do away with the concept of money altogether? Every one of us can readily identify with money; it has actually become so simplified that the concept appears self-explanatory and necessary for any civilised society to function. Is this because there are no better-known systems or alternative options open to us? Or is it such that there are no incentives to change the existing system, especially for those with the most capital and therefore in control of it?

Time h-as value where change is the only constant

A time based economy would significantly change the way we think as human beings at a fundamental level… just give some thought to how ‘spending, buying or borrowing time’ would become conceptual realities in human consciousness where your time is your value. War quickly becomes a waste of time as well as a waste of life; the most intelligent users of time will rise to the top of society by their clever use of their allotted time; the intelligent would supersede the inherited, time rich and time poor would be re-defined in reality.

Walking or driving to work becomes a lifestyle choice. Children could be educated to be what they are, not what we want them to be. Vocation could take precedence over academia without prejudice. The list of inevitable alterations in and to society for the betterment of all would be endless. Don't do the math; do the logic.

However, first you must begin to understand the fundamental steps involved in undertaking these changes, because they are also profound and significant. Utopian ideals may seem cheap, but putting them into practise, more often than not, becomes impossibly expensive for a multitude of reasons, including individual emotions, dominance, and adherence to the status quo.

Although it's often ridiculed, utopian idealism may be technically and politically possible with the advances in today's technology. But irrespective, surely our elected officials should make every attempt to try and head in that general direction whenever it is feasible and realistically possible to do so, instead of passing utopia off as a comic interlude? Placing a 'member's poll' on any Facebook or web page is as easy as... democracy!

In a transition to a time-based economy, there would be no requirements for:

Asset stripping, or over-taxation of rich elites, or the middle and working classes
a) No money, no point
The attempt at equity rebalancing by redistributing wealth
a) Legacies will balance out over time.
b) Intelligence will supersede inheritance.
Engagement in armed conflict or violent revolutions
a) Nothing physical is being lost or gained; there is no reason to become violent.
b) Employment will become significantly more relative to lifestyle.

There is no necessity to become radical against any faction in any way. (Although you might have a tough time explaining this to those with money who are already in power.) All that any society requires is for its rules to be fair, just, and equally enforced; the treatment and adherence to the rules should be the same for every single individual, irrespective of status, which is where our system is failing. In most of our civilised societies, you can still buy your way out of trouble, depending on your status. I've personally witnessed this many times around the world. It is also often incorrectly labelled 'white privilege."

Your time is exactly the same as that of any monarch and the Pope, it’s just that they value their time much differently to you and I… and so do we. Whilst many people are envious of power, wealth and status, the wealthy revere the freedoms that many of us take for granted… we don’t have the restrictions of their gilded cages, which are often under constant scrutiny and threat. This is the unseen trade off, one in which time quality is the only constant factor. There is, and always will be, us and them… And no matter if you are us, or them; ‘they’ exist. The time may have come to change our cognition from 'them' to 'US'... all of us.

Time-based Economy

There are literally hundreds upon hundreds of time banks all over the world; however, these are mainly community- or charity-based. Their methods are crude and simple (an hour for an hour), with no trading platforms yet in place. Their inception allows little or no opportunity to barter time for personal value, such that persons A and B are equal. Whereas person A is a brain surgeon and person B is a... whatever else you care to think of, their time is of equal worth. Whether this is fair or not is actually irrelevant; they were both prepared to give up equal time, irrespective of self-worth or commitment.

We can co-ordinate this entire ethos, ‘time is of value’, into a workable economic system whereby the concept revolves around an individual’s own time and not their earning capacity, wealth or money… which becomes redundant. The ability to exchange your time-value for goods and services is all that is required. This form of currency can be delivered peer to peer, virtually, digitally and in a decentralised format (or not), regulated or unregulated if necessary, or as required. We already have the technology in place today to do all of this... right now in 2014

A digital crypto-currency linked to time and tied to the gold standard, or collective resources (global stock markets) is now a genuine reality due to emerging technologies. I intend to highlight a few herein with demonstrable examples. However, first it is necessary to understand exactly what virtual, cryptographic, and digital currencies are and where digital identity could be introduced effectively. It would benefit you to watch the following brief whiteboard presentation; it will help with the technical explanations later.

Note: This is not a technology endorsement; I'm using this action code system as a focused example. All related resources are openly available online. There are other technologies, such as QR codes, that can accomplish the same or similar objectives.
Effectively, your mobile phone has become your very own modern-day strawman So, for those of you who are opposed to digital ID, it has already happened while you were sleeping.

Currency

A virtual currency, according to Wikipedia;
is a type of unregulated digital money that is issued and usually controlled by its developers and used and accepted among the members of a specific virtual community. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public authority nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored, or traded electronically". By contrast, a digital currency that is issued by a central bank is defined as a "central bank digital currency".

Or, put another way, non-physical (virtual) methods of exchange of, or in, value. These exchanges can be undertaken locally or remotely, peer-to-peer. In our specific circumstance, from one mobile device (or PC) to another, Bitcoin, as an example, already has this capability, whereby block chain technology is used to formulate an auditable ledger of exchange in virtual coins traded peer-to-peer across a global platform. Bitcoin is essentially a crypto-currency because cryptography is used in the formulation of the block chains used to build it. Bitcoin facilitates a throughput of 4.6 transactions per second (TPS), with a maximum of 7, which is too slow to instill as a legitimate currency. Visa has a TPS of over 23,000.

Think of the transaction backlog if decentralised Bitcoin were to become legal tender. In addition, coin-mining uses more energy than moderately sized nations, such as Norway and Argentina, and this is without mass take-up. It is simply not realistic for a mere 5 transactions per second; imagine if there were extensive take-up on a global scale (transaction times of months)... this excludes any mention of coin attrition from the system, occurring over time. This is not sustainable long-term unless there's a giant leap forward in the field of quantum computing or the currency is re-centralised, which is more likely.

The realistic value of Bitcoin is literally contained within the history of the chain, as it provides an anonymous, auditable, decentralised verification exchange or a detailed transaction ledger of and for the trade in virtual coins. This is a very simplistic overview, but our interest is more in the methodology of block chain cryptography, which we will touch upon later. Simply put, blockchain has the ability to provide a secure decentralised ledger and distribute it globally, with verification, across its entire network of (x) users. However, to date, it has not proven infallible or sustainable, with persistent hacks, thefts, and banning orders hitting the headlines with regularity. These instances have undermined people's trust in crypto-currencies, but to the converted, crypto is the only way forward. However, there are better, faster, and more sustainable solutions available.

Golden Times

Everyone is aware as to the value of gold; what gives gold its value is its rarity more so than it's properties. All the gold in the world combined would fit into just one third of the Washington monument. We have a reasonable estimate as to exactly how much gold there is in the world (X) in addition to how much is produced or introduced annually (Y) into the 'system' (X:Y). These constraints highlight that gold, particularly its extraction and production, has a quantifiable and finite time element to it. With simple mathematics, adding the approximate amount of gold in known existence to the gold produced annually it is possible to formulate a direct correlation and valuation of ‘time’ in gold terms (X/Y x Hours) [Or possible others/ resources/ global stock markets], and vice-versa, gold in time terms; a job for the bean counters of the world. We can now formulate the direct correlation to time and the value of all the gold in existence, moderated by the world’s Gold Standard..? we can do this in terms of a Gold:Time ratio and accrue this information into an hourly value that you can trade, digitally.

New technologies

Everyone is becoming more and more aware of digital media technologies such as action codes, barcodes, and QR codes. Reverting to the aforementioned video, below is another presentation detailing a digital value exchange system. This technology alone could be implemented solely as a virtual currency given the correct environment, but for now, it supplements and simplifies my explanations in plain and visual terms.

These particular Glyphs have the unique ability to bridge digital technologies, which is why it makes for a perfect example. They also have a few other notable and unique qualities that make it a great currency solution, one in particular being that they can be ring fenced or grouped into an asset class... in order to provide a ‘set market cap of X ’ offering, similar to Bitcoin. However, unlike many existing crypto-currencies there is no need for expensive mining, each has a unique physical image or presence and the system can be varied to suit any given virtual economy with transactions conducted in real time... Scalable.

As an example, giving value to rarity (as is gold), 1 unique glyph (QR or bar code) = 1 unit of exchange, whereby there are X units for exchange (trillions TBD) in any given economy offering, as is the case with Bitcoin. This effectively makes the system absolute, quantifiable, and precise without the need for any control factors such as interest rates, inflation, or deflation. This method has unparalleled security and no requirement for sophisticated mining or complicated cryptography in order to work as a currency. You simply trade glyphs on your device. There is no need to burn through local energy reserves, deplete supplies, cause outages, or undermine regional internet bandwidth provisions or infrastructure limits. Sustainable!

'Action code theory' is adaptable within any centralised or decentralised system, with said technology being linked directly to a blockchain contract if decentralisation is required. This would facilitate double, fool-proof verification of all transactions in an absolute and infallible fashion in real time, whilst supplying a granular audit trail of all occurrences, including an adaptable audit/admin system using cloud-based databases... Cheap & Efficient!

In addition, Bitcoin is becoming 'mined out', suffering from coin attrition and systemic losses, reducing mining incentives, and thus restricting the effective size of the network. There are other issues; however, it still remains the best and most prominent known store of digital wealth.

This above system (frighteningly) could be coded to know where every penny (unit of exchange) in circulation is, who owns it, where it was traded, where it has been... 100% total transparency. It is possible to demonstrate variations of this concept in action right now with several 'seed to sale' management applications used primarily in track and trace software for the legal marijuana industry. Wherein every single marijuana seed is monitored throughout its lifecycle in a growing facility (due to legislation), a money-time tracking system would be very similar in concept. These systems follow the seed, which is linked and monitored via a digital ID (barcode). However, make no mistake that this system would be as close to the Revalations 'Beast System' as it gets. Are we all about to become nothing more than 'a number'?

** Recentralize: Glyphs or action codes could be utilised in a hybrid solution to form a trading and tracking ledger whereby it is possible to label every single unique unit of exchange in any financial or crypto eco-system (each satoshi) using an optical barcode. By redistributing the transaction data into a database moving forward while at the same time retrospectively collecting the transaction origins and back data (i.e., assessing a coin's origin), this would form a centralised, granular, auditable record of exchange from a single, centralised point in time, in both directions (similar in theory to the stock market Haasbot tool). If you managed to follow the details of this concept, this process would effectively centralise the decentralised crypto-currency system. If not, simply put, you can centralise any decentralised blockchain application, such as Bitcoin, should the need arise, utilising action codes.

This would be useful should it be the case that it were deemed necessary to centralise and regulate a decentralised currency (such as Bitcoin) in order to bring it under control by, say, the banks, or not, as I will expand upon later. To re-iterate, this system, if initiated upon inception, could virtually reverse engineer the Bitcoin blockchain retrospectively and indicate who hacked who, who stole what from where and when, and even identify malignant actors. In addition, it could be possible to deduce precisely which wallet those funds are currently in. This is partly why the truth remains that the banking overlords are probably the better regulator of our economic systems, if for nothing other than a nonpartisan security system, monetary enforcement, and financial governance, but only if this could be made infallible, which is now possible.

This concept of a time-value-based virtual currency is totally flexible and adaptable depending on the design criteria. Specific types of interactive action codes (i.e., barcodes) are cheap, easy to construct, control, implement, adapt, and maintain, so that almost anyone could do it. And this poses another big problem: who do you trust to implement a system such as this? It facilitates and permits multi-faceted hybrid combinations of digital technologies in order to build new currencies that are unregulated, decentralised, or tied to anything or nothing. Consequently, it may be fair to conclude that with the rise of crypto currencies in general, the cat is out of the bag as to value—it's whatever the currency owner says it is.

Action code technologies can be used as a virtual currency, with transactions being easily conducted peer-to-peer in real time, as demonstrated in the videos above. This form of virtual currency could be linked to any sustainable asset of value, including time itself, i.e., 1 QR or Glyph = 1 hour. We would now link or match that hour of value to the gold standard of time value, and you can (or should) now begin to identify the formulation of a hybrid, gold-backed, time-based economy. delivered virtually via a mobile device on a peer-to-peer platform that has the ability to be flexible and decentralised, or not, and re-validated by blockchain if required. From thereon, the options are sufficiently versatile that they can be arranged into any economic configuration that fits within the society or culture using the technology.

Basic functionality and obstacles

Now that we have demonstrated what a virtual-crypto-digital time based economy is and that it is possible to compile, plus we’ve highlighted some of the readily available technologies that can be applied in doing this; let’s look at some of the implications of how this could actually work, by referring back to the banking analogy posed earlier.

I’ve contractually borrowed money to buy a house (a mortgage) in exchange for my future time working to pay off the money borrowed… however, let’s now remove money from this equation. First and foremost, what becomes the purpose of even going to a bank if money doesn’t exist? Where lay the possibility of trade if there is no money or interest due. In a time based system, the role of the banks must change significantly, and here is where another major hurdle enters the fray, because like or loath banking; they make things easy and maintain autonomy in society… albeit by controlling the population through mass manipulation of money. However, it can be definitely be argued that any system would need some form of regulatory circumstance, (A.I), in some guise or another and the banks already have the systems in place that are required.

Decentralised currencies are noted as disruptive technologies (certainly to the banks) because they remove the element of centralised control and therefore move the autonomy of value; in other words, they change 'overall worth'. This is accomplished by facilitating anonymous peer-to-peer transactions while avoiding the established banking infrastructure and legacies in place and historically known to work—avoiding the bank entirely. The inevitable long-term outcome is likely to be the collapse of the banking sector and possibly global stock exchanges.

We would all benefit if the banking system were infallible, which it currently is not. The banking catastrophe of 2008 is just one landmark in a multitude of examples. Financial indiscretions are being uncovered with alarming regularity, with the Panama Papers and the Paradise Papers being just two further recent examples. Bankers and the wealthy are humans and subject to greed, envy, and all the other emotions, just like everyone else. And in their game, the stakes are often high. This is where a failure in our humanity, in the form of greed, can bring down a society, which it almost did during the 2008 banking crisis.

Digressing hypothetically and continuing on having removed money from the banking system... where does that leave us in respect of an undertaking in value for our transactions? Money needs to be replaced somehow in the equation, right? Wouldn’t it be possible to replace that monetary worth utilising your time as value? In principal yes... at the price of re-configuring the entire banking mechanism. The good news is that we could readily use the infrastructure already put in place by the banks to do this... with a few tweaks of course.

Simply put; we could map a time based economy straight over the existing monetary based system that the banks already have in place, whereby we can directly align and map the value of, Gold:Money: and Time (G:M:T) Hence, there’s a lot can be argued that regulated or a regulating bank should remain as a necessity if nothing else, simply for their existing autonomy; their infrastructure will adapt accordingly over time.

In reality, this system would prove difficult, if not impossible, to implement simply due to global politics, but it begins to highlight the reasons why globalism is actually the answer, and it equates to world peace. [In principle, the loss of the nation-state poses the problem of having no one to fight with.] However, the concern is whether this new system would be conducted in a fair and forthright manner, particularly by the people who are currently pushing the globalist agenda the hardest. Probably not. It appears we need a drastic change in the direction of leadership as well as amendments to social strategies and policies.

This is another in a multitude of hurdles to a time-based economy ever occurring, but it is definitely possible to construct and is probably the best solution to the one world currency that keeps being banded around as it is the one known unit of exchange that we all have in common. I'm aware of several companies in the UK that could deliver this type of application within months. It is possible due to the fact that almost every product has a definitive time element involved in its construction, extraction, or processing, and this can be quantified precisely by governing accountants and computer algorithms (chilling thought).

Fiat currency

The existing monetary and economic system is commonly known as "fiat. The reasons are complicated, partly because money is no longer tied to a common tangible asset, such as gold. Fractional reserve banking practises have overinflated the system to produce an unstable economic future of enforced and continual consumerism and debt, which is necessary to fuel the economy.

Many credible analysts are now calling our economic and monetary system a doomed Ponzi scheme, rightly or wrongly. However, when you add this to the ever-increasing strength, presence, and economic weight of the Military Industrial Complex, things appear ever bleaker for all of us. An overstock of improving weaponry, increasing public debts, more systemic stress, magnifying global tension, less cash (currently in circulation, less than 2%), and a global pandemic is a real-time recipe for bad consequences.

But what would happen if the economy did implode and the stock market crashed, way beyond belief and repair; what if money just wasn’t anymore? Civilisation isn’t just going to stop and we all drop dead, we would have to: Adapt, Improvise and Overcome through Adversity…(RAF Regiment creed) but into what? Another monetary based system, run by the same corrupt people, who will do the exact same thing as they did before… that would be the epitome of insanity. However and ironically, it is more likely that this would actually happen if no other alternative presents itself, because it is all we know… and humans are creatures of habit, adverse to change.

It can definitely be argued that an economic collapse would present the perfect opportunity to deliver a technological solution (such as the digital dollar, aka Facebook + Libra = digital dollar). food for thought. Alternatively, we could adapt to a time-based economic scenario so as to address systemic social problems. A minor downside is that for either or all practical solutions, we would need to construct this system as close as is possible to being infallible, learning from the errors of our past discrepancies and mistakes. However, actually orchestrating this event is doubtful because there's zero profit in doing so!

The adoption of a time-based system could prove complicated initially simply due to the fact that the concept is totally abstract—a complete new paradigm and way of thinking for humanity to grasp. It's extremely difficult to imagine because many aspects pertaining to the current economy are literally turned upside down. Nobody likes change; it's always resisted, but it always occurs. A peer-to-peer, time-based economy is probably the best alternative solution to a one world currency that makes us all equal. However, the intrinsic value of this technically constructed economic system can be determined by whoever makes or constructs it. Gold and time are just two good examples, and therein lies another problem with whichever virtual and crypto currency is adopted. The creator controls what is of value and its worth.

The price of eggs

Your house may cost you $50,000 or 50 years to buy; this can be calculated and quantified to the last brick, hour, and penny by accountants and divided into time value (as gold). Everything is transferable and transmutable in theory. Informed, intelligent purchases and your employment would become definitively paramount to your lifestyle in a time-based economy, not consumerism. Your house could well cost you your lifetime, so be damn sure you want to live in it! Your lifestyle and the value of 'free time' will be determined completely differently in a time-based system.

But how can we quantify the value of something as simple as an Egg in a time = value based system? Firstly, you must remove the thought of chicken sex from your mind ;@) we’re left with the product, an egg; which in principal, cost virtually nothing to produce. Excluding; the feed, nurturing and realty, necessary to farm it… along with the fuel to get it to market and staff to stack the shelves prior to purchase; or not. And don't forget the girl on the till taking your money... eggs became expensive.

All commodities have a definable cost in both time and resources, but one that can be quantified as a process in itself. These are the basic foundations of a new economy emerging; whatever the provision, the time element can be calculated precisely, no differently than current carbon tax calculations. Bear in mind that this is a hypothetical new system and, as such, would take time to grow and develop, but it has a very predictable evolution; it is scalable as well as sustainable, unless we run out of time.

Let’s say, for example, an egg takes a day to get it from the nest to market and is sold, that doesn’t necessarily mean that an egg would cost you a day of your time at market. Comparatively, if it takes less than 15 minutes to print a precisely accurate 3D prosthetic limb, or a few hours to 3D print an entire house; these concept becomes illogical when implementing our existing monetary thought processes. These expensive applications would quantify our time to value model into something more akin to being ‘upside down’ as to how it is today. Everything changes… it’s too complicated a perception for most to grasp initially and that’s also part of the problem.

The actual cost of an egg (or 6) can be quantified from butt hole to butt hole if the correct algorithms and accounting are put in place, simply by taking into account all of the constants involved, such as nurturing, feed, fuel, accommodation, packaging, etc. The entire commodities market would change completely into something with a more intrinsic and realistic worth because the value of products would be quantifiable down to the exact amount of time taken to produce and sell them, therefore making their value finite. This brings with it a quantifiable level of sustainability for all commodities on earth—scalable, sustainable, and efficient.

Public service vs. private enterprise

Let's confront the old communist adage; does a trash man have the same value as a Doctor in society... taking into account that both are required in order for each to function efficiently in a society? It’s a fair question and the answer is solely dependent upon that society, along with the implementation of its theology, Cuba being a shining example. But what if this actually became irrelevant, as with the case previously mentioned… with the hundreds of time banks already in existence worldwide? Everybody’s time, irrespective of occupation, is fundamentally the same. This orchestrates an equal intrinsic value tied to self-worth but this is only affective when applied correctly and that’s the rub; it’s all in the application and thus enters the politician.

Most dustbin or trash-men/women (refuse technicians) don’t hate their job as much as we’re often lead to believe; the ones I know actually enjoy it. And, if they were paid the same amount as their local Doctor or GP, [i.e. often more than the Prime Minister...(WAKE UP)] I’m sure they’d enjoy it a lot more, but is that practical? Would it actually be an issue if our existing concept of monetary value became somewhat irrelevant?

Career choices

Equally, some people just aren’t cut out to be Doctors and others simply don’t mind emptying trash… [Maybe when they're not playing guitar or writing their comic screen play]. But the rewards for each should probably quantify somehow, relative to a common constant, which is, and only can be the quality of their time. So yes, if cut to the bone, people are worth the same in time terms, but only in a truly democratic autonomous society… should one ever exist (or evolve). In real terms, people want or expect more if they make certain sacrifices, which usually involve their time and/or intelligence at the crux.

Here’s where this all begins to become slightly skewed… particularly where money enters the equation along with the life, death or well-being of a loved one. A Doctor suddenly becomes far more valuable than the man who collects your garbage, anyone can do that right? And the more knowledgeable that particular doctor is, the more his or her value to those in such a position as to best afford his or her service. This automatically lines a pathway to Dr. Greed; its human nature to want more money… as well as it is to care for those we love. Thus enters an economical paradox involving love and money. The rest is history, or so they say… Money is complex.

*As an example, current NHS statistics (pre-Covid) estimate the fallout rate of graduating NHS doctors to be close to 50%. Once trained, the majority of young UK doctors leave for private enterprises and don't enter the NHS at all. Yes, immediately after they qualify, often at the taxpayer's expense, they leave for more money. This is the real smoking gun and underlying problem with our NHS: our doctors' greed. National Health Trust funds have proven this; they struggle to afford doctors. A doctor should work for the credence, stature, passion and not profit; today, many are becoming businessmen or women first. The price is often derived more from your need for treatment than the satisfaction of curing.

Education and employment

As a career choice, I recommend becoming a skydiving instructor; it 'almost' worked for me, but I'm an official loony. However, as a working-class lad, no one ever told me it would be, or even could be, possible to jump out of an aircraft for fun and create a decent lifestyle from doing so. Playing video games was always folly when I was a child; the top e-game players are now earning millions for simply following their vocation. Information and knowledge are real powers; however, they only have any relevance when presented with the opportunity, which is also controlled financially.

Our entire employment structure is established at the grass-roots level in our schools, and that is where the next obstacle enters. The entire education system would need to be reformed and transformed from the top down and the bottom up, completely. Many who work within the existing academic system (and parents) would say that this is probably a good thing. Additionally, the introduction of AI into the workforce with increasing accessibility and affordable rates means that the education system has to adapt to this in due course. Human beings need to begin using their brains more than their brawn; we now have robots for that kind of work, like it or not. It's happening.

Notwithstanding, the educational structure would have to change and adapt entirely into something new in a time based system whereby employment & personal choice would become the emphasis. Vocation could, should and would, over time, eventually balance out with academia and artisans in terms of equal value. Teaching would become multifaceted, redefined more toward a form of talent spotting of/or academic distribution, whereby children could follow the nature of their minds within a set, essential curriculum of basics (such as the 3R’s) with a mentoring toward their vocation, such as sport, science or art: be whatever you are or want to become... live your dreams or die trying: this would become a genuine reality.

Fortunately, this would probably be a naturally occurring process, assimilating into society over time. A single-parent domestic (a maid or cleaner) should have the right to access every possible facility and service available that's required to become an effective and valuable member of society on their own terms. Be it a playwright, poet, rock star, author, artist, brick layer, basket weaver, or fog plaiter (who cares?)—anything constructive or not should the desire arise. It is nothing short of forthright to be presented with the chances and opportunities to do so. This is a fact; just ask J.K. Rowling, among others. Everyone has something hidden, a skill or talent; our educators should be trained to spot and nurture these instead of drilling facts and statistics into young, uninterested heads to be quoted back blindly during testing. Engagement in 'anything', is the key to true learning.

The internet has now made many of these utopian possibilities a reality. If you need to know the answer to pretty much anything you want to know or care to learn, Google Assistant or Bing will furnish you with the resolution within seconds. The education system is overdue for an overhaul simply because of this one fact. Every classroom should have a Google Assistant, Siri, Alexa, or Cortana as standard practise to answer any question that a child has on any related topic(s) in real time and in private if necessary. The answers could be discussed communally with other students in their peer group, with their teacher or mentor acting as the experienced Oracle. Teaching would be redefined and maybe even become more factual and enjoyable.

These are simple, easy answers for a system that is being deemed 'highly complex," and this is understandable due to the delicacy of young minds (one-sided ageism?). But, at the end of the day, it's learning; we were all intrinsically born to accomplish this and continue doing so if given the right environment. Some people do need to know how to suck eggs; others don't. They prefer theoretical quantum physics and exit the womb with a Marvel comic, but any functional society should cater to both in equal measure. 3 sheets: wipe, fold, wipe, fold, wipe, discard. You can fit in another fold and wipe; not everybody knows this!

The ability to teach children uniformly, collectively and in an informed manner whilst in the safety and comfort of their own homes can be accomplished today via the internet… no question. This could also be accomplished in a unique and individually customised manner to fit each student, but would we really want to do this? Or, better such an application be used to supplement a new revised hybrid system of institutional and home based education, freeing up individuals time? Roll on the robot kids; we’re all going to live in Stepford... Children need social interaction so there’s also a trade-off that has to be addressed. It’s never going to be straight forward but... has it ever been?

Welfare

Ok, so you’re broke, skill-less, talentless and lazy with no hope of employment, which is never the truth… but, we aim to please. Universal Basic income is a concept currently in its grass roots stage, feel free to research it. The concept aims to give a basic level of income, which transpires into a chance, a standard of living and lifestyle above that of the existing poverty line... which will buy you time until 'you find yourself' or not. [note: hyper-inflation isn't mentioned in this economic equation]

In a time-based system, welfare payments are relatively simple to incorporate. For every hour you are under the welfare state, the system assigns 1 unit per hour to your mobile device, incrementally. This payment could be set against a sufficient level of time-related duties or any alternative forfeit [or not]. The aim is to maintain a standard of living within any given community as set by it. These forfeits could be set by each individual community in a revised form of devolved governance, inferring local control, which is exactly where it should be, unless the local law permits the hanging of monkeys, of course. [Sorry, Hartlepool]. Or, alternatively, these could be set universally from a common point of view of values, which is where the politician comes in and is probably the biggest obstacle of all to get around, aka egos.

Ponzi-Subversion

It would be possible to implement this type of incremental time-based credit system as a tactical strategy for economic disruption. This could destabilise an economy, whereby such a system would be the inception of an entire sub-economy unto itself from the bottom or lower classes upward.

For example, think Bitcoin; if a completely free and virtual digital system were to be given to the ‘trading class’ as a vehicle of exchange between one another, peer to peer on a mobile device, this could prove sustainable… whereby each individual in the system is awarded a credit every hour, incrementally, in order to provide a set standard of living and trading within the peer group.

In this enrollment-time-based system, the user [citizen] would literally be receiving something for nothing. It would become possible to trade this for something else within their network or peer group, facilitated by their mobile device. Early adopters and subscribers would benefit the most from selling the concept to others and would do so naturally as a matter of course because they would benefit the most the more it was used. This concept is similar to any other Ponzi scheme in existence, but one that may actually work due to the nature of the value in it, which is your invested time.

However, the inevitable end and where the rubber meets the road is where ‘they’ meet ‘us’. If the working class were to acquire the ability to trade using this system within a somewhat exclusive environment of equivalent peers, it would undermine the power of the wealthy. The working class would have no desperate need to work for, or trade with them for money. Workers and traders would have their own open and free currency with which to trade freely, this is similar to the existing circumstance with Bitcoin... and hence the massive resistance to it from the establishment.

This becomes more complicated the more you think it through, but the end result can inevitably be seen as a war—an endless one—against the bomb factory owners. So this financial concept of revolution is best left alone. There is no way forward for any system such as this unless everyone (at least within a defined community) is on board with the changes, which is the ultimate hurdle to surpass.

Who soaks up the excess money?

One of the biggest hurdles to this entire concept is undoubtedly integration. Those in real power, as a factor of their wealth, obviously don’t want this power taken away from them, they’re human after all and in their eyes, they've earned the right. However, the growing gap between those at the top of society and those at the bottom continues to grow at an alarming rate... to everyone. The growing division is causing an element of global subjugation and subsequently entrenched opposition is being witnessed worldwide with divide and conquer indicators being witnessed everywhere. Brexit, Spain, Venezuela, Ukraine, The Middle-East, Afghanistan, Arab Spring, Covid-19 etc.etc. The list goes on and on... it can readily be argued that Donald Trump has irrefutably divided or polarised the United States, if not the world.

Once again this can be seen as systemic, predicable and possibly orchestrated given the right amount of power. The Ruling Class aren’t necessarily to blame for this; however this is where the finger always gets pointed. No-one mentions the aspiring upper or middle class

Banker or accountant
Judge or lawyer
Media mogel or journalist
Surgeon or Doctor

Are these trades emerging into the ironic and iconic real-time... 4 Horsemen of the Apocalypse: Science, Religion, Finance, and Politics

Apocalypse

Wouldn’t you take more money if you were offered or given it, especially autonomously? The issue here being, the more money you have the more and more predicable the system becomes for you in particular... capitalist economies are biased in favour of those with the most and those individuals have the ability to manipulate that same predicable system. It is a prevailing cyclic problem that can't and won't go away unless it becomes irreparably broken and/or replaced outright.

It would not be possible to move forward with any time based (or alternative) digital system without actively convincing the wealthiest 1%, or the most powerful minority of society, that this is the correct and most ethical thing to do for the betterment of the species. And here’s where we have to be fair and comment that most of the wealthy, not all of course but most, would agree in principal with this philosophy and possible integration because... they lose nothing in real terms. They keep their lifestyles and all their possessions moving forward and they already well know the value of their time.

The truth is that something has to change or it’s going to get ugly sooner or later… the consequences are too high to not consider something akin to this system. I have traveled the entire planet for a long (long) time and there is definitely some form of unrest being felt globally, it is not localised, it is very real and not imaginary. Nobody seems to be able to quite put their finger on what precisely it is or what is going on... because nobody at all really knows what is going on regardless of whether they think they do or not.

There's too much fake news, spam, fud, lies, and deceit on social media, obscuring the possibility of ever being able to see through all the mud. Only the informed could truly know, and no one is ever fully informed; it's impossible to have the mental bandwidth to deal with the amount of knowledge necessary.
As an example, there is growing evidence that restricted patents and mutually beneficial knowledge are being suppressed as standard government practise. This is accomplished by the patent offices. This is often understandable... to a point, but surely not when it is to the deficit of the entire population. Alas, yes! Complete transparency is fairer, and this can be accomplished digitally—another good use for blockchain technology; decentralised patents... the owner is the owner.

The wealthiest among us are not stupid, they are the most informed and knowledgeable members of our society; this is how many of them became rich in the first place. But if our economic system were to diversify into a new hybrid, time based system, the richest would inevitably have to soak up the monetary losses without reverting to any form of warfare or retribution. The good news is that there’s no requirement to redistribute wealth, strip assets or valuables, revert to revolution, become violent or aggressive… none of it.

All that a time based economy would do is level the playing field; it doesn’t change the game itself. That’s the fundamental and logical reason underpinning why this could actually work if it were adopted and constructed infallibly. It could be supplemented by an agreed level of transparency or monitoring to provide security, trust and enforcement within some form of currency authority body. These type of organisations currently exist... it's just a matter of moving their goal posts.

Nobody loses out in real and immediate terms. Lifestyles will not change imminently, the wealthy as well as the poor, would have time to adapt to the new system. The wealthy will still control the majority of the land and knowledge, and that is real power, not money. Common people would finally be furnished with the chance to become what they are and not what somebody else wants or expects them to be... within a framework of work to your own rule.

Money isn't everything.

How many times have we all heard this saying: Money isn't everything? True Story: Very recently, in the neighbouring Mexican village, a young boy was involved in a moped accident and badly broke his skull. Moped accidents are a very common occurrence in Mexico. Due to the nature of the Mexican medical system, the family, who earn $10 a day, had to find $1000 within 24 hours to pay for a brain operation that would save their son's life, or he would be left to die. I would like anyone to try and explain to that family that "money isn't everything." We are not living in a caring world, and we should be.

Caring takes time, which costs money, and most people have little of either these days. It's not that we don't give a damn; we just have 'enough on' dealing with our own lives to care for anyone outside of our sphere. A recent academic study discovered that a community is almost incapable of caring until the average income of that area exceeds $5000 (ref: Jordan Peterson). Or put another way, like it or not, caring is a luxury of the rich. The poor do give a damn; they just can't afford to care!

To conclude

A time based economy is simply a suggested pathway to a better ethos for all of us… hopefully one of peace. With possible destruction becoming seemingly more prominent every day and with the looming possibility of a ‘one world currency’ hanging in the air like a Hail Mary punt towards globalisation [aka World Peace], would it not be worth taking the time to look at your time being used as value? This could be accomplished by implementing an infallible, auditable, transparent banking system consisting of your banked time... making it fair.

The rich get to keep their big houses, lavish lifestyles, and fancy cars. Without prejudice, life still goes on, but things will change. Time will take care of the legacy; it always does.
Carpe Diem! The intelligent will undoubtedly rise to the occasion and surpass the inherited; this can only lead to the benefit of everybody, regardless of class.

Ruled by intelligence where inheritance still counts!

Peaceful Revolution is Evolution... it’s time to Evolve.

VOTE LOONY!!!