Deconstructing Currency and Unchaining the Shackles of Colonization

In our collective consciousness, the scars of colonialism still run deep. Our economic structures remain an enduring echo of this…

In our collective consciousness, the scars of colonialism still run deep. Our economic structures remain an enduring echo of this historical trauma. From private property rights to intellectual property enclosures, our economies are fraught with mechanisms of control, relics of a bygone era that were intended to coerce and manipulate people into serving the interests of a powerful few. One of these enduring artifacts is our monetary system, a legacy steeped in colonial might and manipulation.

Currency, as we understand it today, was not a natural evolution. Rather, it emerged from colonial powers forcing a critical mass of people into accepting an artificially-imposed medium of exchange, which the elites could then control. The innocent note in your wallet or the digital numbers in your bank account are testaments to that control, symbolic manifestations of the hegemony of the powerful over the many.

Yet, as we critique these colonial tools, we fall into an intriguing paradox: self-colonization. We perceive these mechanisms not as relics of control, but as essentials for survival in our modern world. We fear that without them, we will fall prey to the same colonial and now corporate forces we aim to resist. Our fear of losing control coerces us into adopting the very systems we critique, effectively re-colonizing ourselves in the process.

Consider the software industry. As the digital age flourishes, we justify the use of closed-source, proprietary software out of fear that an ‘open source’ would expose us to domination by powerful corporations. Similarly, in the realm of defense, we rationalize our pursuit of weapons of mass destruction as a means of protection against others who might use such weapons against us — a twisted ethics of deterrence.

The labor market, too, bears witness to these dynamics. We perpetuate a hierarchical power structure between employers and employees, believing that the only way to maintain stability and control is through this imbalanced relationship. However, in mirroring the oppressive structures we aim to resist, we overlook the potential of the human spirit — our innate capacity to create, collaborate, and thrive.

In the world of complementary, community, and even cryptocurrency, there has been an ethic of transferring the power of ‘currency’ to the masses. I began my work at Grassroots Economics Foundation with this aim — wanting to empower marginalized communities to create ‘currencies.’ Yet, now I understand that the over 70 Economic Commons we’ve helped create are effective only because they are built on trust in real human commitment. For true mutuality, there must be a commitment from each sovereign individual. A blanket currency assumes general adoption, pushing a network effect as ‘currency’ - this again is a colonial concept that I had sadly internalized.

This is where the era of Grassroots Economics comes into play — an alternative vision of our economic future, learning from our ancestors, where collective strength and mutual respect override the antiquated power dynamics.

Instead of a rigid ‘currency,’ Grassroots Economics envisages a fluid system of ‘vouchers.’ Each voucher represents a commitment, a promise of contribution to the community, which is then pooled into an economic commons. Community, Inclusion and Currency (as in liquidity and flow) are outcomes we seek, not things we create from scratch. Networks of interconnected vouchers, like Sarafu.Network, serve as media of exchange rooted in mutual trust, commitment, and cooperation, devoid of any central authority’s control and domination.

Imagine a world where proprietary software gives way to open-source projects, nourished by the collective genius of our global community. A world where we focus on creating tools of mass education, instead of weapons of mass destruction. A world where the employer-employee relationship is redefined into a mutual partnership of equals, where hierarchy gives way to collaboration.

Imagine a world where the sum of our commitments far surpasses any one ‘currency’ — because they already do. The collective power of humanity for well-being is extreme. Separated, the grassroots are weak; together, they are strong. Grassroots Economics is not just an abstract concept; it is a call to action — to unchain ourselves from the colonial shackles, to question our fears, to challenge the status quo, and to come together to build a more equitable, just, and prosperous world.