James Dale Davidson and William Rees Morg’s “The Sovereign Individual” is a book that will permanently alter your perspective on the world. Despite being published in 1997, the book’s accurate predictions regarding the impact of blockchain technology on society are spine-chilling. As we transition from the industrial to the information age, we are entering the fourth stage of human society, and this book helps readers comprehend the magnitude of change ahead.
The authors predict that the new information age will favor individuals who can work independently and generate income from anywhere, unencumbered by location or career. Although the idea of living somewhere solely based on cost savings is already enticing, this goes beyond freelance work and digital nomadism. The very foundations of democracy, government, and money are shifting.
The authors’ prescient predictions of Black Tuesday and the fall of the Soviet Union in the past lead them to believe that decentralized technology will undermine the power of governments as individuals become more powerful. They predict that private, digital cash will be the downfall of nation-states. When this occurs, the dynamics of taxation and government will change. Those who can solve global problems will enter the new cognitive elite.
Yuval Noah Harari’s “Sapiens: A Brief History of Humankind” is a must-read. Harari explains the fundamental difference between humans and monkeys and how it is our imagination that sets us apart. Our ability to believe and talk about things we have never seen or touched has enabled humans to collaborate in large groups. There are no gods, nations, money, human rights, laws, religions, or justice outside of human beings’ common imagination.
Harari’s book is a magnificent preamble to the present. After the Cognitive and Agricultural Revolutions, Harari explores the Scientific Revolution, which began just 500 years ago and may be the impetus for a new era in human history. Money will remain, but trust is the essential component that underpins all forms of currency. This book explains how money is the greatest story ever told.
“The Internet of Money” by Andreas M. Antonopoulos is an infectious and enthusiastic read that expands on the “why” of Bitcoin’s emergence. Antonopolous is a respected voice in the crypto space, and this book is a summary of his talks between 2013 and 2016.
He argues that Bitcoin cannot be banned or turned off and that the scaling debate is unimportant. He uses a metaphor to explain how new technology often gets stuck at the beginning before becoming the norm. Antonopoulos believes that Bitcoin is a revolutionary technology that will change the world forever, and those who grasp this will understand its importance beyond its current price and volatility.