5,000 years ago in Mesopotamia, you could deposit your grain in a secure storage facility and receive a grain token, while I could do the same with my wine. Then, in the marketplace, we would simply exchange these tokens, which could be redeemed for the actual goods in storage, settling our debt. This is how money worked in Sumerian towns as they began trading their agricultural surplus, initially using clay tokens for counting, then for accounting, and eventually for administration.
These tokens were made of clay and often stored in clay envelopes for safekeeping. The contents of the envelope were recorded on clay tablets before sealing for additional security. This practice was, in fact, an early form of double-entry bookkeeping.
Credit money, based on trust between local community members or a network of traders, has been widely used for centuries in various forms such as certificates of debt, vouchers, notes, cheques, bills of exchange, and mutual credit across regions from Asia to Mesopotamia to Europe. Whereas, outside of the community, when trading with strangers, a different form of money was necessary.
Read more 👇
Reading The Origins of Modern Bureaucracy, a section in @thejaymo%E2%80%99s research “World Running”. ✨🐋📞docs.google.com/document/d/1XRm39aH8APXVqjzKYptz7-NQ-3AAXNVrgcjm9oBMOec/mobilebasic
Dropping 5 sketches for a multi-layer data-network collage map. Open edition for 7 days. Selected from various interactions with Midjourney v4 in December 2022. <<< Sketch 5 >>> fin
Dropping 5 sketches for a multi-layer data-network collage map. Open edition for 7 days. Selected from various interactions with Midjourney v4 in December 2022. <<< Sketch 4 >>>
Dropping 5 sketches for a multi-layer data-network collage map. Open edition for 7 days. Selected from various interactions with Midjourney v4 in December 2022. <<< Sketch 3 >>>
Dropping 5 sketches for a multi-layer data-network collage map. Open edition for 7 days. Selected from various interactions with Midjourney v4 in December 2022. <<< Sketch 2>>>
Dropping 5 sketches for a multi-layer data-network collage map. Open edition for 7 days. Selected from various interactions with Midjourney v4 in December 2022. <<< Sketch 1 >>>
Edison and Ford were app makers for the fossil-fuel “platforms”. x.com/culture_crit/status/1803462916902985825
A thousand words is worth a picture in ai x art x crypto. x.com/matdryhurst/status/1790651125143658933