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Against the IFP

Centralizing control over a currency’s infrastructure is a seemingly obvious mistake.

One would think any Austro-libertarian worth their salt would be able to see thru such a charade. Yet here we are, again. Face to face with economic illiteracy. Not garden variety lefist economic illiteracy, but one far more stinging and painful - one which comes from within our own community, rather than from without. 

First, Bitcoiners faced the economic illiteracy of maximalism and small blockers. Attempts to masquerade money’s primary function as value storage (Ammous) or rejecting Menger’s Regression Theorem altogether (Szabo) are luckily demonstrably false. Nevertheless, the shock of our fellow Bitcoiners illiteracy was like an unexpected slap in the face. Suddenly, we were forced to confront the fact that the ignorance of our allies in the fight for sound money, had led them astray. Yet, thru BCH we were thankfully able to keep Satoshi’s dream of peer to peer cash intact. 
Well, crypto anarch…

Technological Agorism I: Digital Feudalism




We live in the age of digital feudalism.

In earlier times, peasants saw their productive capital rerouted to their feudal lords. Likewise, we modern serfs see the monetary value of our digital presence being rerouted to big tech CEOs. And just as medieval lords used this capital to maintain their elaborate manors & their status in the nobility (thru kickbacks to the monarch), these modern day lords do precisely the same. The advent of tokenization promises to change this.




Big tech has profited enormously from the digital peasantry in two ways. 

  1. They earn money based on the popularity of user-generated content. In other words, we use FB, Twitter, & IG to view content posted not by these companies, but by the individuals who use their platforms.
  2. Big tech collects & monetizes our personal data & has been doing so for quite some time.

Own Your Content

The tokenization of digital content has already started the process of disrupting legacy business models. Seeing as the first generation of competitors to Facebook hegemony (Steemit & Minds) have been tokenized, one can only imagine just how decentralized future competitors will have to be. 

The new token model is simple. Users are rewarded with tokens based on the popularity of their content. These tokens can then be traded on exchanges for other currencies or used for auxiliary purposes. 

In fact, this very article is being boosted on Minds using tokens I earned from previous posts.



Own your Data


Another way our feudal tech lords profit from us is by collecting & selling our personal data to third parties. This too will end.

Tokenizing sensitive data not only makes it more secure, but also empowers individuals to use it however they see fit. In the age of tokenization, we will decide if our data is sold, to whom, & for how much. Moreover, that money will go into our pockets, not Mark Zuckerberg’s. 

Financial incentives aside, the conglomeration of large data sets in the hands of a small number of firms, makes an easy target for hackers, or as we'll see later in this series - governments.

Not to worry, the tokenization of personal data is already underway. Companies like Docademic have already begun rewarding folks for access to their health care data with medical tokens.



It works like this. Individuals grant Docademic access to health care data & are rewarded for doing so with DocTokens. DocTokens can then be exchanged for actual health care services. 

Using an app, patients can report symptoms as well as schedule & attend telemedicine consultations with real medical professionals. All the while the patient's data is anonymized & used by hospitals, universities & medical research facilities to expand their knowledge base & make the health care industry as a whole, more efficient.

Nevermind, obamacare. The future is now. 

Final Thoughts


In conclusion, our current state of digital feudalism is winding down thanks to the magic of tokenization. Soon, feudal tech lords will no longer own our content or our data. This is a trend to be welcomed. Not only will the tokenization of content & data empower individuals financially & strengthen existing markets, but it will also protect us from state surveillance.


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