Reflecting on Value, Growth, & the Future Role of Web3 🌐
Yesterday, as I drove 🚗, I found myself engaged in a profound conversation with my youngest. They curiously inquired about earnings in the '90s versus today. To put things in perspective:
🔹 The average Australian income in 1990 was around $27,000. Today, it's surged past the $85,000 mark. 🔹 In 1990, the average Australian house price hovered at approximately $120,000. Now, it stands well over $800K. 🔹 Food, a basic necessity 🍎, has also seen a marked rise in cost, reflecting the growing disparity between earnings and living costs.
Their innocent observation struck a chord: In an age of advanced technology and automation 🤖, it's absurd that individuals still toil endlessly, often with little to no reprieve, just to secure basic necessities like food and shelter.
In Australia, believe this systemic issue boils down to two primary culprits: 1️⃣ Banking Profits from Loans: Banks 💰, with their propensity to profit massively from loans, epitomize this imbalance. On a typical $1M home 🏠, banks could rake in upwards of $500,000 in interest over a 30-year loan (based on historical averages). They profit from the very notion of debt without tangible contributions to societal welfare. 2️⃣ Modern Food Dynamics: Our departure from local, organic produce to supermarket monopolies 🛒 has further exacerbated the issue. Their driving principle isn't health or nutrition but profit. Woolworths and Coles made billions in profits this year. The pears & honey we'd just procured from a local growers market 🍐🍯 were a testament to the unmatched quality and taste of local produce. However, such markets can't cater to mass demand. We need a paradigm shift towards community-driven, health-focused food production.
Navigating these challenges seems daunting. Banks are tightly tethered to their lucrative debt structures, and our palettes have largely forgotten the true essence of nourishment. The monumental change we seek must sprout from within — an internal revolution, an awakening 🔥, & a realization that we possess the autonomy to opt for alternatives.
Much of this transformation will be an inner journey. Yet, I firmly believe that external forces, especially #Web3 🕸️, will be pivotal. Web3 holds the potential to decentralize crucial aspects of our lives, from #education and food to debt & housing. This isn't merely about #technology or #innovation. It's about a vision for a future where profit doesn't overshadow #purpose 🌱.
This transformative potential of Web3, intertwined with its ethos of community, #decentralization, and empowerment, is precisely why I'm so invested in it. Not just for profits, but for a future that's equitable, #sustainable, & vibrant for all 🌟.