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A Circular Economy in the
Age of Network Finance
and Social Capital
Business before Blockchain !
A Survey of Contemporary Economy !
and Abstract !
Most work today is compensated
via bilateral agreements between a
worker and an employer according
to a simple contract: you work in X
job, and we will compensate you in
It basically enables a global spreadsheet —
an incorruptible digital ledger of economic
transactions that can be programmed to
record not just financial transactions but
virtually everything of value and
importance to humankind:
birth and death certificates, marriage
licenses, deeds and titles of ownership,
educational degrees, financial accounts,
medical procedures, insurance claims,
votes, transactions between smart objects,
and anything else that can be expressed in
Alex and Don Tapscott
Blockchain is a Trust Machine !
Economist, October 31st, 2015
In essence it is a shared, trusted, public
ledger that everyone can inspect, but
which no single user controls.
The participants in a blockchain system
collectively keep the ledger up to date: it
can be amended only according to strict
rules and by general agreement.
Santander reckons that it could save banks
up to $20 billion a year by 2022
Honduras and Greece are interested
Bitland in Ghana
Chromaway in Sweden
luxury goods or
works of art
Everledger for Diamond
Petrodvorets for its luxury watches
can be notarized
In Spain, certifying a document costs on
average 250€..Thanks to the blockchain, any
kind of data can be certified for as low as
It’s a 99,9% cost cut compared to a legacy
notary, and that is for a certificate that is as
legally binding as the one from a ‘brick-and-
Blockchain Circular Economy
Defining the Context and a Survey of Usecases
“A circular economy is one that is
restorative and regenerative by
design, and which aims to keep
products, components and materials
at their highest utility and value at all
times, distinguishing between
technical and biological cycles.”
At the heart of making this possible, is
the relationship between actual work
done, value created, and value
The work being done must be varied
The work being done must be
valuable and valued
Users should be able to spend their
earned currency internally in order to
generate more value.
Either the Circular Economy or the Access Economy
are fairly recent emerging concepts. They are
considered by many to be a more appropriate
expression of the larger concept of “Sharing
The foundations behind the idea of access rather
than sharing are the fact that people get access to
goods and services through using various
technologies, apps, and websites.
This is considered by some to be more worthwhile
than actually owning these assets as a community
or a sound P2P. Another interesting characteristic
of this novel models is sustainability.
Stages in a
Users perform some work, either passive (driving and sharing
data), or active (voting a post, or making a decision).
Each marketplace has its own 'unit of work', consisting of a
variety of activities.
Each unit of work generates value for the marketplace, for other
users and for the end-user themselves. This is an expansion of the
network effect theory
In return for that value, users are rewarded with a native token
currency, the marketplace’s own currency.
That currency can be spent inside the marketplace on another
transaction or service (eg taking a ride, promoting content), or it
can be exchanged outside the marketplace against another
cryptocurrency or fiat money.
The value of the marketplace as a whole increases proportionally
with the amount of activity & value that are generated inside of it.
McKinsey estimates shifting
towards the circular economy could
add $1 trillion to the global
economy by 2025 and create
100,000 new jobs within the next
Steemit for example, rewards users
who vote-up or write posts on its
decentralized content platform.
The theory of decentralized
transportation platform La’Zooz is
that you earn Zooz points, just by
driving your car while the app
collects data about your driving
A healthcare research entity could pay
patients or normal people who share
their medical data, in exchange for the
collective wisdom that is gained by
aggregating that information, and
returning personalized or
The blockchain will enable us to do our
jobs and be compensated inside new
circular economies that have their own
currency units and their own work units
The influential new tech business author
and evangelist William Mougayar, the
author of “The Business Blockchain”, and a
board advisor to the Ethereum
This is one of the critical areas of the P2P,
crowd sourced and crowd based and
sharing economy weaknesses: how to
reward people in a cashless increasingly
machine driven world.