Zoekresultaten

Money after Money: disassembling Value/Information Infrastructures

This book is a journey through coexisting, emerging or speculated about, types of digital value transfer infrastructures. Using digital value transfer infrastructures as a central case study, this thesis is concerned with unpacking the negotiation processes that shape the governance, design and political purposes of digital infrastructures that are closely linked to the public interest and state sovereignty. In particular, the papers that are assembled in this manuscript identify and inspect three main socio-technical developments occurring in the domain of value transfer technologies: a) the privatization and platformization of digital payment infrastructures; b) the spread of blockchain-based digital value transfer infrastructures; c) the construction of digital value transfer infrastructures as public utilities, from the part of public institutions or organizations. Concerned with the relationship between law, discourse and technological development, the thesis explores four transversal issues that strike differences and peculiarities of these three scenarios: i) privacy; ii) the synergy and mutual influence of legal change and technological development in the construction of digital infrastructures; iii) the role of socio-technical imaginaries in policy-making concerned with digital infrastructures; iv) the geography and scale of digital infrastructures. The analyses lead to the argument that, in the co-development of legal systems and digital infrastructures that are core to public life, conflicts are productive. Negotiations, ruptures and exceptions are constitutive of the unending process of mutual reinforcement, and mutual containment, in which a plurality of agencies – expressed through legal institutions, symbolic systems, as well as information and media structures – are entangled.

Designing futures of money and fintech

In light of increasing cashlessness, platform economies, Open Banking APIs, financial bots and cryptocurrencies, money is on the move - once inert, money is gaining agency, becoming programmable, automated, data-driven and part of 'more than human' infrastructures. These financial futures demand that designers engage with difficult questions of economy and value, while retaining a sensibility to the many subtle and social qualities of money and our everyday economic interactions. This one-day workshop will therefore bring together practitioners and researchers to explore design challenges related to four broad themes: Designing with Transactional Data; Designing Alternative Representations of Value; Money, Automation, Power, and Control; and Financial Futures with Vulnerable Users. Developing scenarios related to these themes, the workshop will cultivate a rich design space to establish the value of design-led research in shaping our financial futures.

MoneyLab reader

Bitcoin 2.0: Maatschappelijke implicaties

In dit artikel worden de mogelijke gevolgen belicht van de introductie van nieuwe en bestaande toepassingen van Bitcoin-technologie. De transnationale, decentrale en gedistribueerde peer-to-peer-structuur van de Bitcoin-technologie en van nieuwe toepassingen hiervan, hebben de potentie om bestaande sociale relaties en instituties te ontregelen. Het krachtenveld waarin maatschappelijke actoren staan kan hierdoor uit balans worden gebracht. De meest radicale van deze nieuwe technologieën is Ethereum. Met name het concept van de Digital Autonomous Organisation (DOA) heeft mogelijkerwijs verregaande consequenties. Ethereum is een ‘contract validating and enforcing system’, een gedistribueerd systeem dat een platform biedt voor autonome computerprogramma’s die in staat zijn om zelfstandig overeenkomsten met rechtspersonen en andere DOA’s aan te gaan en te ontbinden. Ik richt mij op de mogelijkheden van deze toepassingen als nieuwe platformen voor International Financial (Cyber) Crime.

Lessons from the first implemented CBDC: the Sand dollar

In recent years, the debate about the design of the monetary system has become increasingly prevalent. A major topic within this debate is central bank digital currency or CBDC for short. A survey by the Bank of International Settlements (BIS) shows that in 2022, nine in ten central banks (CB) explored a digital variant of their own currency (Kosse & Mattei, 2022). In the euro area, the European Central Bank (ECB) is conducting a wide-range study of the pros and cons of a CBDC, in the form of a digital euro. Other CBs are at different stages of the research cycle. The Chinese central bank is experimenting extensively with its e-CNY and has been conducting research since 2014 (Luo, 2022; Prasad, 2021). The Swedish Riksbank published its first report on the possible designs and effects of the e-krona in September 2017 (Sveriges Riksbank, 2017). Against all these various studies and experiments is the Bahamian Sand dollar, the world's first, by 2020, fully implemented CBDC. The Bahamas is not the only country; in 2022, Jamaica fully introduced the JAM-DEX (CBDC Tracker, 2023). Since CBDCs are a relatively new phenomenon, there is logically little empirical data to support the potential advantages and disadvantages. The fully implemented Sand dollar can confirm or refute some of the claimed theoretical advantages and disadvantages, and lessons can be distilled from this case for the introduction of other CBDCs. This paper first discusses the (theoretical) motivations for implementing the Sand dollar, then discusses its operation and current low adaptation rates. Finally, it derives lessons that can be used in other CBDC cases.

State Machines

Today, we live in a world where every time we turn on our smartphones, we are inextricably tied by data, laws and flowing bytes to different countries. A world in which personal expressions are framed and mediated by digital platforms, and where new kinds of currencies, financial exchange and even labor bypass corporations and governments. Simultaneously, the same technologies increase governmental powers of surveillance, allow corporations to extract ever more complex working arrangements and do little to slow the construction of actual walls along actual borders. On the one hand, the agency of individuals and groups is starting to approach that of nation states; on the other, our mobility and hard-won rights are under threat. What tools do we need to understand this world, and how can art assist in envisioning and enacting other possible futures?This publication investigates the new relationships between states, citizens and the stateless made possible by emerging technologies. It is the result of a two-year EU-funded collaboration between Aksioma (SI), Drugo More (HR), Furtherfield (UK), Institute of Network Cultures (NL), NeMe (CY), and a diverse range of artists, curators, theorists and audiences. State Machines insists on the need for new forms of expression and new artistic practices to address the most urgent questions of our time, and seeks to educate and empower the digital subjects of today to become active, engaged, and effective digital citizens of tomorrow.Contributors: James Bridle, Max Dovey, Marc Garrett, Valeria Graziano, Max Haiven, Lynn Hershman Leeson, Francis Hunger, Helen Kaplinsky, Marcell Mars, Tomislav Medak, Rob Myers, Emily van der Nagel, Rachel O’Dwyer, Lídia Pereira, Rebecca L. Stein, Cassie Thornton, Paul Vanouse, Patricia de Vries, Krystian Woznicki.