Beyond Bitcoin: Cryptocurrencies, the Blockchain, and the Re-Valuation of Value in Postcapitalist Worlds

Bitcoin. Ethereum. Dogecoin. These names conjure images of a digital gold rush, of overnight fortunes, of a decentralized revolution poised to disrupt the global financial system. But beyond the hype and the speculative frenzy, a more profound transformation is brewing: a revaluation of value that could reshape the very foundations of our economy.

Cryptomania: Navigating the Hype and Reality

Cryptocurrencies have exploded onto the scene, sparking both excitement and anxiety. They offer a glimpse of a world where money can exist outside the control of banks and governments, but they also raise concerns about speculation, volatility, and their potential for exacerbating existing inequalities. Think of the early Bitcoin adopters who amassed vast fortunes, while others were left behind.

Here’s a look at the complexities of the crypto-landscape:

• Capitalist Assemblages: Speculative investment and profit-seeking dominate the mainstream crypto-market, often mirroring the extractive logic of traditional finance. Think of the energy-intensive mining operations that power Bitcoin, raising concerns about environmental sustainability.
• Nomadic Assemblages: Cryptocurrencies’ borderless nature has facilitated the emergence of new transnational communities and financial networks, challenging the territorial boundaries of nation-states. Think of how cryptocurrencies are being used to facilitate cross-border remittances and support migrant communities.
• State Assemblages: Governments are grappling with how to regulate this new form of money, balancing their desire for control with the decentralized nature of blockchain technology. Think of China’s attempts to ban cryptocurrency trading, while simultaneously exploring the potential of blockchain for national digital currency.

Blockchain: Beyond the Buzz

The real revolution may not be Bitcoin itself, but the underlying technology that powers it: blockchain. This distributed ledger system, which allows for secure, transparent, and tamper-proof transactions without intermediaries, has the potential to transform not just finance but a wide range of sectors. Think of how blockchain is being used to track supply chains, verify identities, and even create new forms of democratic governance.

Here’s how blockchain could empower Postcapitalist Assemblages:

• Territorial Assemblages: Blockchain can enable communities to create and manage their own local currencies, fostering economic resilience and challenging the dominance of global financial institutions. Think of the emergence of community-based cryptocurrencies in regions like Catalonia.
• Postcapitalist Assemblages: Blockchain can facilitate the development of new forms of value accounting that recognize and reward diverse contributions, such as care work and commons-based production. Think of how the Community Algorithmic Trust (CAT) proposed by the DisCO.coop network uses blockchain technology to track and remunerate different forms of value.

Beyond Speculation: A New Currency of Cooperation

Postcapitalist Assemblages are not interested in cryptocurrencies as a get-rich-quick scheme. They see blockchain technology as a tool for build-ing a more just and equitable economy, a world where value is no longer defined solely by the market, but by the well-being of people and the planet. Think of how FairCoin, a cryptocurrency designed to support cooperative businesses, aims to create a more ethical and sustainable financial system.

Postcapitalist Assemblages are exploring how to use blockchain to:

• Democratize Finance: Creating decentralized financial systems that give communities control over their own resources and enable more equitable access to capital.
• Promote Collaboration: Facilitating peer-to-peer transactions and supporting the emergence of new forms of cooperative businesses and organizations.
• Build a Commons-Based Economy: Using blockchain to track and manage shared resources, create new forms of collective ownership, and foster a more sustainable relationship with the environment.

The Moneyless Moonwalk: A Horizon of Possibility

Can we escape capitalism’s gravitational pull entirely? Can we imagine a world where money, even in its crypto form, is no longer the dominant organizing principle? The answer may lie in the emergence of moneyless economies, based on principles of direct democracy, gift exchange, and mutual aid. Think of the utopian vision of “Fully Automated Luxury Communism” where technology frees us from the necessity of work, and where resources are shared freely according to need.

While such a future may seem distant, DisCOs and other postcapitalist assemblages are already experimenting with ways to move beyond the limitations of the market and the state. They’re building a world where cooperation, solidarity, and ecological sustainability are the guiding principles and where the moneyless moonwalk might become a reality.

Cryptocurrencies and blockchain technology are potent forces in today’s rapidly transforming world. The question is not whether this technology will change our lives – it already is. The question is, will we allow it to reinforce the existing power structures of capitalism, or will we harness its potential to build a more just and sustainable future for all?

The answer, as always, lies in the power of collective action and the will to dream a different kind of world. Join the postcapitalist revolution and help build a future beyond Bitcoin – a future where the currency of cooperation, not competition, sets the tempo.