CREATION OF MONEY AS A DISCOVERY PROCESS
Bitcoin enabled the separation of money and The State for the first time in history. With its unique monetary design, bitcoin also enables a departure from the banking model of education.
Bitcoin is a new class of asset-based currency. It has intrinsic value with its fixed supply at 21 million bitcoin.
With Bitcoin, the creation of money involves a process of discovery. While the fiat monetary system creates money out of thin air, satoshis come into existence through the function called mining. Using game theory that creates fairness, and a fixed set of rules, computers around the world engage in a process which utilizes the SHA-256 hash function to generate new coins.
By igniting the spirit of play, and engaging people in this creation of money, the mysterious creator of Bitcoin, Satoshi Nakamoto, has opened up a new learning space where people can enter voluntarily.
The wealth of the 21 million bitcoin is like a treasure that is slowly released to humanity, waiting to be claimed. A consensus algorithm known as proof-of-work is used to facilitate each person’s participation in the network to discover this hidden wealth. Through engaging in sportsmanship in the treasure hunt, people begin to learn new skills, develop capacities to work as a team and solve problems collaboratively.
THE NEW GIFT ECONOMY
Bitcoin fuels innovation and entrepreneurship. New jobs and opportunities that are created allow us to think freely, to develop original ideas and experiment with them. Here, instead of working to meet the criteria imposed by others, each individual can set their own standards for success and strive to live up to them with genuine feedback from the free market.
This is now creating a new form of gift economy that encourages each of us to find our own unique gifts; talents and abilities that we are all born with. It has revitalized the original vision of education rooted in the Latin word, “educare” which means to bring out what is within us; to nurture our inborn nature, releasing the genius within.
Bitcoin is a sensei that does not exercise authority. Instead of directions from instructors, the protocol maintains the integrity of the learning environment. Bitcoin teaches us that what we love is what we are gifted at doing and what we are born to do. The network incentivizes each of us to find what we love to do.
Bitocoin’s new gift economy began to transform work from meaningless labor to vocation. As if being called by the creator of Bitcoin, people began to follow their heart and take the path that leads to their own personal greatness.