What COVID-19 Says About Network Economics

The global response to COVID-19 reflects deeply held societal values that blockchain can deliver more effectively

Photo by NASA on Unsplash

Before the internet platforms, we still lived in the age of networks. The United States of America, 20th century capitalism, and Western civilizations long before ours had experimented with political, economic, and social forms of organization: networks through-and-through.

The internet made networks digital, fast, global, and more valuable from an economic standpoint. In fact, so much value was created (overnight, in some instances) that the social benefits easily outweighed the economic interest that any one of us may have been able to negotiate for ourselves as mere users.

Yet as the internet shaped not only our social landscape, but also our political and economic landscape since the 2010s, some of us started to think the internet could – no SHOULD – offer us more than free tools. In a sense, we wanted equity for contributing to the network.

These feelings emerged at a time when more people sought new ways of understanding humanity, beyond the norms that accounted more economic inequality during the 2010s than at any other time in history. It just didn’t seem fair at face value.

COVID-19 has shed light on just how vulnerable to a 100-year shock our legacy economic system is – and how much social and political will we ALL have to sustain “network performance.” We’ve in one fell swoop stopped economic activity and passed a $2.2T bill (over $6k per American) to save the bedrock of all networks: the humanity in each life.

On the other side of this, a more decentralized and coordinated way of measuring network economics for users on the internet will establish a new set of norms that serves everybody’s interests – including businesses, governments, and individuals. That’s what we’re working on at the Tree of Wally.

Read more about how a data central bank paves the way for financial security and subscribe.