Web2 and Web3 are two different generations of the World Wide Web. While Web2 is a centralized platform, Web3 is decentralized and powered by blockchain technology. The success of Web3 has been enormous, with many people now moving from Web2 to take advantage of its benefits. However, the path to Web3 is not always straightforward. It is complicated and requires a deep understanding of both technologies. Today's guide will ensure you have the right information to successfully move from Web2…
The Juxtaposition of Cryptocurrencies and Free Will
Philosophers and most fintech aficionados align the concept of cryptocurrencies with free will despite the differing analogy between the two. The main feature of cryptocurrencies is to provide users with the freedom to choose how, when, and where to use their funds.
Accounting to the fact that money breeds freedom (still debatable), it is possible that cryptocurrencies could be the modern-day catalyst to achieving free will.
Well, let’s take a gander at the common arguments of free will from staunch philosophers who have spent time trying to prove their theories.
Could Free Will Be an Illusion? Here’s What the Philosophers are Saying
Plato (429-327 BCE) believed that free will exists since individuals can formulate a cause of action from their own will. He suggested one can shift their decisions with their ever-changing beliefs on the topic in question. Although down the line Plato’s narration gets religious, he believed that anyone could transform their ideas, leading to different outcomes like a multiverse.
Inferring this argument to crypto, you will notice that users have a chance to choose what wallets, exchanges, and coins to invest in. Furthermore, folks in the crypto community have the freedom to decide when to sell or buy, depending on the nature of the market (bear or bull).
Leibniz’ Determinism Argument
Wilhelm Gottfried Leibniz (1646-1716) uses the notion of determinism to describe free will. Leibniz believes everything has a reason for its existence. Unlike Plato, Leibniz dismisses the actualization of free will. Instead, he denotes that reality is casual, where everything needs a reason to happen. If we use Leibniz’s exploration to define crypto’s aid in free will, there is not much we can deduce, but maybe we can stress that people should not ignore the determinism of cryptocurrencies.
Governments and the many other crypto watchdogs should stop trying so hard to tweak or control cryptocurrencies to fit their recommendations, especially when those bodies have failed in the traditional financial system.
Thomas Hobbes Law of Intent
Hobbes (1588-1679) is another philosopher who doesn’t believe in the concept of free will. Hobbes argues that humans are self-centered and will act in their best interest. Hobbes’ argument is based on the thinking process before the action – intent. Hobbes narrates that it’s all about the appetite that overcomes the rest; hence there is no sense of will but intentions and inclinations. The explanations of Hobbes are not theological. They take an atheist point of view, meaning they are not swayed or biased by religion.
Connecting his analogy with crypto, it is clear that all users are free to act on their intentions whenever they want, for whatever reason. The law of intent concurs with the concept of cryptocurrencies ideally. Every user is at liberty to feed their intent appetites at any time, unlike in traditional financial systems where one has to go through a gigantic pile of paperwork before accessing their funds. The bureaucracy of banks has limited so many folks not to achieve the financial freedom everyone is craving.
How Cryptocurrencies Can Help Achieve Financial Freedom
Most financials view financial freedom as the status of independence where one can cater for their expenses comfortably for the rest of their lives. Contrary, you can have enough money to run you for eternity, but it all comes down to how easy you can access it. That’s where crypto comes in. As aforementioned in the above texts, keeping your funds in crypto opens you to all the perquisites of digital currencies. For instance:
- Ease of access
- Numerous methods of earning passive income
- Cheap transaction fees
- Cross Border transactions
- Quick/Faster transaction
- Wide variety of currencies to choose from
Put, having a lot of money doesn’t necessarily mean that you have attained financial freedom; access and moving your funds wherever and whenever is crucial when looking to be in control of your finances.
Crypto Lets You Work Less to Obtain Financial Freedom
Throughout history, achieving freedom has been a Gordian knot in most instances, and individuals have to fight tooth and nail to achieve it. However, the dawn of cryptocurrencies has proven to be one of the lucrative ways of investing. Numerous folks have made millions just from investing in crypto.
Stressing on that note, many arrays have been introduced in the DeFi sector, which gives even the non-tech savvy cohort a chance to make a few bucks through the technology. For instance, the buzz in NFTs has been instrumental in driving crypto adoption as it has included folks from different industries, i.e., the art industry, music, movies, etc.
Moreover, believe it or not, crypto offers better dividends and incentives than banks. When you compare the loan rates of various banks and those of crypto lending platforms, you will find out that crypto has by far better rates. And to mention, the quick disbursement funds from crypto platforms make it ideal. Why wait for weeks for a loan when you can get it in minutes?
Why Crypto is Instrumental in Achieving Financial ‘Free Will’
Sometimes it proves difficult for our imagination to walk past an economy where one’s financial capabilities depend on the global economy—the idea of having control over your finances without answering how and when you spend it seems magical. Moreover, the feeling of owning an asset that constantly grows in value is even better. Nonetheless, we have to ask ourselves are cryptocurrencies in any way a financial ‘do as you wish.’
The correlation between Cryptocurrencies and free will, according to this article, is so close that we can all say they are one of a kind. Financial regulators seem worried that adopting cryptocurrencies may cause global economic instability, like an economic multiverse of madness. However, if there’s freedom of speech, why not introduce financial free will by adopting cryptocurrencies.