I have been studying economics and the digital transformation of money lately and have some not-so-serious thoughts (like the above Me-Money comic) and some serious thoughts below.
If a central bank ever decides to compete with bitcoin (which is a decentralized global currency and not government controlled), and that central bank starts to issue its own cryptocurrency, here are the some of the potential positive and negative impacts of such a venture:
Positive Impact to the government and central bank:
1. More control
2. Ability to run pilot program(s) first in smaller environment to work out unexpected issues
3. Can take as long as it likes to roll out the system
4. Can end the cryptocurrency at any time
5. Can pressure and incentivize other nations and companies to use the currency
6. Can make tax filing system automatic
7. Easier to collect fines from lawbreakers
8. Can issue more currency whenever it likes
9. Easier to track spending patterns and activities of citizens
10. Worldwide media exposure and attention
11. Viewed as innovative and forward thinking
Positive Impact to individuals:
1. Better tracking of money spent
2. Quicker payment sending abilities
3. Time saved through more integrated tax filing process
4. More jobs for those skilled at cryptocurrency
Negative Impact to the government and central bank:
1. Central bank and government are at the discretion of fallible humans who can become very disunified, change the rules, have hidden agendas, and make poor decisions about ongoing operations
2. System will be always pressured by politicians, special interest groups and businesses serving selfish interests
3. Increased exposure to cyber crimes and online theft
4. System is totally dependent upon electricity and the internet. If either system ever goes down, the economy stops.
Negative Impact to individuals:
1. Those holding bitcoin or other altcoins would see those coins and infrastructure devalued and in decline
2. People without great internet service would be excluded from full participation
3. Increased exposure to cyber theft since more transactions move online
4. Higher unemployment for bank tellers and brick and mortar retail bankers
That said, I'm not saying a central bank or government should or should not issue its own cryptocurrency. I really don't know if it would be good or not. There are so many variables that only God knows how such an economic transition would turn out. Besides, I have no authority in this matter. My prayer is that, however we use money, we do it to honor God.
|Fellowship Of The Machine (detail) is rare digital art by Joe Chiappetta, available in select ArtVndngMchn Series 3 NFT packs. The full piece is a statement on how fine art, machines, and money have converged into one bizarre and fantastical fellowship.|
Art Is Money: 10 Tips & Truths
|Bit by the Crypto Bug is rare digital art by Joe Chiappetta, available as an animated color edition on SuperRare.|
|Art Is Money by Joe Chiappetta.|
- Money is art and vice versa.
- Currency can be created by anyone.
- Art can be created by anyone.
- Money can be created by anyone.
- Everyone (and anyone) can be an artist.
- Everyone (and anyone) can tokenize anything.
- Anything that can be tokenized, will be tokenized.
- Art has always been a game.
- Money has always been a game.
- Powering art and money, internet access becomes even more of a human right.
ArtVndngMchn Series 3: CryptoSkateboards and Other Things that Fly
- Launched February 26th, 2022
- Fine art NFTs wrapped in randomized packages
- 10% donated to charity
- Cryptoart OGs and emerging artists
- On Wax Blockchain
- Coincides with 3D virtual exhibit in the metaverse
|ArtVndngMchn Series 3 NFT fine art pack art by Joe Chiappetta|
As with each preceding pack release, a percentage of the revenue will be donated to help the poor through MERCYworldwide. To date thousands of dollars have been donated. For this series, 10% from the initial sale will go toward helping youth who are blind learn independent living skills at the Kyiv School for the Visually Impaired!
Curated by award winning cartoonist Joe Chiappetta, cryptoart OGs as well as emerging artists have contributed some of their best artworks to this lively fine art collection. Artists included in Series 3 include Bruce Bachelder, Jennifer Barrett, Anna, Denise, Joe, and Luke Chiappetta, Beth and Caleb Cohen, Kara Mia, Sean O'Kana, Mike Rende, Melida Rios, Fabi Yamada, Richard Yates, and Marko Zubak.
Follow joeychips on Twitter for more frequent ArtVndngMchn updates.
|Park Afternoon is rare digital art by famly.photo, available on AtomicHub.|
So what are these many new things that have become ArtVndngMchn?
- Digitally wrapped and randomized packages of fine art NFTs from over 20 international artists. ArtVndngMchn was the first to do this with fine art NFTs. Much mentoring of emerging artists takes place through the many crytoart OGs in the project.
ArtVndngMchn fine art NFT packs available on AtomicHub.
- A 3D virtual gallery and entertainment game space called ArtVndngMchn Amusement Park, experienced through a Minecraft server called The Uplift World in their Gratitude map at coordinates 3320, 2370.
Sunrise Over ArtVndngMchn Amusement Park is rare digital art by Joe Chiappetta, available on AtomicHub.
- NFT assets that can be used as disposable ingredients to acquire new fine art NFTs through a process called blending in Neftyblocks.
Totally California Window Scene is rare digital art by Joe Chiappetta, available on Neftyblocks.
- An art project used to raise money for the poor through MERCYworldwide.
- An Artwork Theme of Fun and Family
- A Pioneering NFT Collection
- A Game within Minecraft
- A Metaverse Event Destination
- An Interactive Art Performance
Certified Art Jumper Badge is rare digital art by Joe Chiappetta, available on AtomicHub and acquired at special art events where players fall through multiple levels of fine art.
- A Metaverse Rollercoaster
- And more.
|ArtVndngMchn Propaganda Video is rare digital art by Joe Chiappetta, available on AtomicHub where often the promotional pieces became works of art too.|
|Crypto-Art ATM is rare digital art by Joe Chiappetta, available as part of the CrystalsCraft Collection in the early years of NFTs on Counterparty.|
|Humans is rare digital art by Isa Kost, available on Atomic Hub.|
- As it relates to fine art, the internet started as an art catalog.
- Then it became an art market via online ordering and shipping.
- Then it became an art creation tool through sites like Dada.art and others.
- Then, through the invention of rare digital art (later called NFT), the internet became an art vending machine.
- Finally, through the merging of all of the above, the internet became an art metaverse.
|Inside the ArtVndngMchn Amusement Park, where 2 virtual rollercoasters end.|
Follow joeychips on Twitter for the latest ArtVndngMchn news!
|Short Story Party is an event flyer and rare digital art by Joe Chiappetta, available on AtomicHub.|
Is this a metaverse event flyer or an animated piece of art? Yes to both.
While the below event has concluded, you can still visit this site for an out-of-this-world fine art, gaming, and reading experience.
Short Story Party!
When: Friday October 22, 2021 from 7pm to 8pm UTC.
What: Come to ArtVndngMchn Amusement Park and read exclusive (very) short stories as part of this interactive fine art, gaming, and literature experience in our 3D virtual world.
Where: Minecraft Java Edition in The Uplift World server called Gratitude at coordinates 3320 2370. This metaverse is currently in closed alpha phase, meaning only land owners and those whitelisted can participate. To get whitelisted, direct message your Minecraft username to joeychips on Twitter before event starts.
Receive Free NFT: Complete all steps to receive free NFT:
- Take in-game selfie screenshot reading one of the short stories.
- Post screenshot as a Quote Tweet to joeychips' tweet from day of event.
- Write a 2-sentence review of one of the short stories.
- Include your WAX address.
Short Stories: At this in-game event, 7 super-short stories by Chiappetta (an award-winning author) and others are on display to be read in the main gallery. These stories are not available anywhere else and can only be accessed in the ArtVndngMchn Amusement Park. Stories include...
- Another Story Daddy (Silly Daddy short story)
- ArtVndngMchn Woman on a Mission (sci-fi)
- Me and Edgar Lee (poem)
- A Mountain of Snow (Silly Daddy surreal slice-of-life song lyrics)
- The Parable of the Creator's Kingdom (a fine art allegory)
- The Parable of the Five Elements (sci-fi)
- Starleah (sci-fi)
Follow joeychips on Twitter for more updates.