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Harvesting, Tokenizing, and Sharing the Influence of Planetary Abundance to Mitigate the Global Debt Catastrophe

DOI: 10.4236/tel.2024.141008, PP. 125-163

Keywords: Sharing Economy, Global Debt, Abundance, Existential Threat, Blockchain, Financialization

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Abstract:

The global debt crisis of mega proportions is heading towards the collapse of our economic systems. Posing as one of the existential threats to humanity, the perpetually increasing debt/GDP ratio projected to rise to 1300% by 2030 has no cure unless a radical new approach replaces or complements our current scarcity-focused, centralization-prone economic approaches. One such approach evolved from the 2008 economic crisis that resulted in the birth of a technology that made decentralization of any ecosystem free of human biases and prejudices. Hailed as the greatest advancement since the invention of the internet, blockchain is a liberating force of the digital age and a potential enabler of the 21st-century sharing economy (Sharonomics) that transforms scarcity-centered legacy economic systems to one of abundance. Tokenizing that planetary abundance to offset the massive global debt may be a utopian dream at the present time but by applying the law of accelerating returns to the technology advancements of this century, a credible path can be hypothesized and pursued. The principle aim of this research is to provide theoretical support to such a hypothesis suggesting future research avenues towards a possible solution. The research methodology follows the narrative and integrative literature review approach based on peer-reviewed reports.

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