Editor's Note: This article comes fromChain Academy (ID: gh_16a912371734)Chain Academy (ID: gh_16a912371734)

, Author: Blockchain Robin, reproduced by Odaily with authorization.

From 1957 to 1958, the U.S. suffered a recession following the pandemic. Unemployment is at its highest level in decades. A shrinking economy and rising prices hit workers with a double whammy -- less money and higher prices.

In response, the government lowered interest rates, extended unemployment benefits, and accelerated government construction projects. Within a year, the U.S. economy had recovered.

While the new coronavirus is deadlier, more contagious, and harder to treat than the 1957 flu (it's not even a type of flu), it's had the same positive response from society, and the recession it's currently causing Same.

My hope is that next summer we can put the coronavirus behind us. Medical science is moving so fast that its development is remarkable."By the end of the year, we may know everything we need to know to crush this", and back to normal -- regardless of"normal"normal

What it means in a post-coronavirus world.

It may take longer to get vaccines and treatments to everyone who needs them, but sooner or later, the world will recover.

At that point, we'll have to face all the problems we had before the pandemic and economic crisis took the world's attention.

The list of problems is long and far exceeds what I can enumerate here. It includes racism, inequality, poverty, reckless government monetary policy, and debt, deficits, and spending commitments that the world's major economies can hardly face.

Meanwhile, we continue to suffer from the slow erosion of public discourse, the progressive destruction of free markets, and the silent erosion of the value of labor in monetary terms.

Cryptocurrencies can solve all these problems.

And what does the encryption circle care about?"Sushi, hot dogs, pickles and pasta."Price increased

, Moon, Lamborghini.

Epoch-making technology, engaging tasks, freedom and all...so which DeFi coin should you buy?

A revolution, if you keep your original intention

Cryptocurrency will fundamentally change the modern concept of money, wealth, privacy, property and business.

For the first time, we can create financial networks that everyone can participate in."You don't need to know someone who happens to know someone, and that someone can decide to let you in or not. You don't need to satisfy others"qualified

To join the criteria, you just need to download the app or visit the website.

Everyone can get involved in finance, join a group, start a business, buy or sell property, no matter where they live, how much money they have, what political or religious organization they belong to, family status, race or religion, education level or nationality.

Computer programs do not discriminate, and algorithms cannot shut you out.

No lobbyist can change the rules of Bitcoin, no dictator can silence it.

The Three D’s of the Next Crypto Bull Market – Decentralized Finance (DeFi), Decentralized Autonomous Organizations (DAOs), and Decentralized Exchanges (DEXs) – Will Test the Limits of Money Thinking and Produce Paradigm-Changing Discoveries , to benefit all mankind, not just the rich and powerful.

These discoveries will be as important as penicillin, steam power and electricity.

For the first time, we can test the concept of money in the real world. We can go beyond efficient market theory and Pareto charts. We can observe monetary policy in its purest form, free from political influence and interference.

What will we find out? what will we create

Everything is possible.

but money comes first

There are many possibilities - we'll discuss that in a moment.

But first, money. After all, it’s not crypto that makes the world a better place, but cryptocurrencies. Literally, the technology of money.

No matter how good it is to humans, someone will get rich from it.

In a way, that's the point. Create value and you will get value. What good is a new currency system if no one uses it?

Consider Ampleforth, a financial network that rebalances users' funds whenever the value of its token, AMPL, moves too much. In theory, users can grow or shrink the purchasing power of their funds as the network grows. The number of AMPL tokens will rise or fall according to an algorithm designed to keep the token price stable.

Will it work in the real world?

We will wait and see. At the same time, as long as you don't get knocked out, you can play rebalancing and get huge profits.

Some cryptocurrency teams such as GoodDollar and ZoloUS have begun exploring universal basic income. They're trying to figure out how to get money to everyone without moral hazard and market inefficiencies.

Would it work in the real world?

We will wait and see. Did you receive my airdrop? Make you a quick buck!

of course

These experiments, and dozens of others, will lead to profound insights into humans, markets, and finance.

They will lay the foundation stone for the financial network of the future. Just as telescopes forced us to rethink our assumptions about the center of the earth and electricity forced us to rethink our assumptions about physics, cryptocurrencies will force us to rethink our assumptions about money.

It takes time to settle. Technology moves fast, people don't.

Perhaps we can be forgiven for being obsessed with staking rewards and yield farming. After all, after a few more years, rewards will slow down and earnings will decline -- that's by design.

Never before has it been so easy to buy into the kind of wealth-generating machines that the rich have long used to make money, and we have an obligation to participate.

It’s only fair that we risk our fortunes in favor of this new asset class and the technology behind it, to reap the benefits.

Wealth is not an end, it is a result

image description

Photo Credit: Danica Tanjutco

As the cryptocurrency market develops and prices rise, you will hear people reverting to the cliche debate of what is money and what is not.

They will use cryptocurrencies as a way to transact or invest, not as a way to create a trustless network for the benefit of all. Sometimes, even Bitcoin geeks fall into this trap.

They'll miss out on the real revolution - humanity organized without a central authority to coerce them into doing things against their best judgement. People break out the middlemen and gatekeepers that create bottlenecks, complexity, cost, and conflict.

They don't realize that cryptocurrencies offer humans an opportunity to use consensus and governance to facilitate choice and build community. Nor will they care about how cryptocurrencies create fairer and more inclusive financial and social networks.

That's ok, we will!

While the rest of the world is obsessed with the actions of central banks, the intrinsic value of currencies, and archaic financial concepts, we pave the way for the future of finance. We don’t need to wait for economists and political theorists to come up with solutions, once we have an idea, we can act on it – and no one can stop us from doing it.

Therefore, future financial discoveries will not come from academics and politicians. They'll come from entrepreneurs, computer scientists, developers, mathematicians, and regular folks like you and me.

And we will benefit from it.

Will we use our good fortune to build open, permissionless financial networks and trustless, censorship-resistant communities? To promote currency innovation, privacy and inclusive markets? To create a monetary system that allows the poor and marginalized to contribute to world markets and thereby build their own wealth and financial security?

Or circulate fabricated tokens from one lending platform to another? Peddling a get-rich-quick scheme? Using cheap cash to drive up prices so we can sell our stake to someone dumber or greedier than us?

now more than ever

Despite the worldwide economic recession, political disharmony, disease epidemics and social crises, we are still lucky. We have the time, money and opportunity to invest in the financial web of the future.

While we will gain from it, we have an obligation to go further.

People lost faith in leadership and questioned the traditional financial system. Investors have no good places to put their money. The rich want to protect their wealth from currency devaluation and reckless governments. Businesses need better digital goods and services to thrive in a post-coronavirus world. Workers suffer from the financial vampire of inflation.

Everyone is worried about how long our economic crises will last and what will happen to them before they are over.

These are real issues right now, today.

Cryptocurrencies can solve these problems - if we choose to.

Maybe DeFi will get rid of pyramid schemes, interest rate shenanigans, and bigger scams. Some tokens actually do solve market inefficiencies, or propose new financial models, they are just mixed in with a bunch of scams, fast money-wrapped scams, and bad ideas.

Anyone can create a financial system and unleash it globally. Let us use this power to benefit humanity and encourage discovery. Even better - let's support everyone who tries to do this, whether they do it with Bitcoin or not.

looking to the future

looking to the future

While we all have a responsibility to consider the wealth creation opportunities of cryptocurrencies for ourselves and our families, it is sometimes all too easy to lose sight of the big picture."In a post-coronavirus world where humanity is struggling to find its own way forward, if cryptocurrency’s biggest advocates are only talking about price, its biggest selling point is"it will go up

, then cryptocurrencies will not flourish.

Think of a real revolution - an open, permissionless financial network where no one can manipulate, mislead, or cheat.

This revolution will not fail for any flaw in blockchain technology or any new financial system it will spawn.

The only way it can fail is if we all ignore why it started - as a response to a world where money goes only to the rich, privileged and entrenched in class.