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The Financial Anarchist Manifesto
- Bitcoin's success is convincing many that we can do away with trusted institutions altogether. The Financial Anarchist manifesto seeks to harness the potential of two technologies—one old and one new—to challenge the status quo: Chaumian ecash and Nostr, a novel, decentralized, social network—provide the groundwork necessary for emergent behavior to trump central planning.
- Nostr offers a set of rules for individuals to organize around and create a foundation for markets to emerge. Its features make it a strong contender to become the identity layer for the online arena. Reputation systems are entangled with fiat institutions; a functional Web-of-Trust can significantly align users' incentives and allow markets to thrive. Nostr introduces a radical shift in our approach to reputation, replacing centralized certificate authorities with local and distributed trust archives.
- Chaumian ecash offers a different approach to decentralize finance than Bitcoin, recognizing the inherently local nature of finance. While payments are inherently social, making intermediated finance a natural fit for many transactions. Ecash notes can be issued for every payment request and used by the recipient to pay any Lightning invoice. The Financial Anarchist dreams of a future where every Bitcoin wallet has access to the modern equivalent of a neighborhood bank.
- Using Nostr as a coordination mechanism, we can empower communities to pool common resources and establish dedicated financial hubs. The grassroots adoption of this technology will undoubtedly face challenges, akin to the early days of Bitcoin and Lightning.
- The Financial Anarchist envisions a world where Nostr and Chaumian ecash allow us to reclaim sovereignty and build new autonomous zones across cyberspace, away and out of reach from centralized authorities. The notion is that individuals should be free to define their economic relationships on their own terms.
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