John Law (1671 – 1729), was pivotal in the transformation to our modern economic system. He effectively formed the first central bank in France where he introduced the concept of paper money backed by gold and silver before heading to the USA. We start with John Law because he proposed a financial system where the Scottish government would issue paper money backed, in part, by the nation’s land. Land as money isn’t a new idea, as one of the fathers of modern money tried to create something similar 300+ years ago. It failed due to the fact that land lacks the liquidity of gold or silver. But they did not have blockchain technology and we do.

Another J.L., John Locke (1632 – 1704), argued that a “little piece of yellow metal” has value because we all agree it does and by comparison land has an “intrinsic value” for what it can provide us with (mainly referring to sustenance and minerals). Now, of course global warming wasn’t a consideration back then. But since land also provides us with a natural solution to combat climate change, we can include this element as part of what gives land “intrinsic value for what it can provide us”.

Henry Ford once said of fiat currency: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” The sentiment behind this quote should tell us that people are open to alternatives.

There are many different currencies and forms of money in today’s world. The question is, what characteristics should the best form of money have? We have listed some below: 

• Sensible financial decision (backed by something with intrinsic value) 
• Simple to understand (calculation of value and distribution mechanics) 
• Save nature (this one is for us) 

We start with money because all systems use some form of currency in order to operate. However, a currency is only one part of the overall ecosystem. It is not enough to just create different currencies to change the direction we are collectively taking our planet in. 

Almost every system created by humans was designed without consideration for the finite resources of our planet. We will discuss the deficiencies of conventional business legal structures, the drivers behind government actions and the limitations of philanthropy in the following sections. 

One thing is clear, these systems or activities have existed for thousands of years without consideration for our natural world. We are stuck in history, with systems that were designed in an abundant world, with complete ignorance to what the planet needs to create a livable environment. 

The world is at a crossroads and we need to re-think what systems we decide to implement and live within.