First person to propose an alternative to gold was Henry Ford, not Satoshi Nakamoto

new york tribunal article

 

According to Henry Ford's statement to the New York Tribunal newspaper, published in 1921, the famous American entrepreneur took action 100 years ago to establish a digital currency R&D center in America. Although Ford's attempt failed with the pessimistic approach of the US Senate, the world changed with the introduction of the idea of ​​cryptocurrency.

Today, the money of the future, even cryptocurrencies, which are officially the asset base and shopping tool in several countries and many organizations, did not start with Bitcoin, which was first introduced by Satoshi Nakamoto, as we all think. A similar idea was put forward in 1921 by the American entrepreneur and his major work, the Ford brand, Henry Ford. This idea sought motivation to end all wars in the world, and according to this, what Ford had to eliminate was gold, a shiny yellow metal that was considered valuable.

henry ford

According to Henry Ford, the winners of wars were always people who had a large amount of gold in their hands. As young people died, gold holders looked for ways to preserve and increase their gold. The only solution was to switch to an energy-based asset system. To this end, Ford has made an offer to lease a fertilizer production plant and part of the hydroelectric power station in America's Muscle Shoals region for 99 years from the state. This $5 million offer was met with pessimism by the United States Senate, and the offer was withdrawn by Ford in 1924.

According to Ford, in the New York Tribunal, the purpose of purchasing the facility was to make the region a center for the creation and expansion of this energy-related asset unit. Although the details of the system were not made up due to the indifference of the US Congress to the project, according to the small details, a certain amount of energy for an hour would correspond to one dollar, and calculations and operations would be performed on it. .

Coming to today, Bitcoin, which was introduced in 2009, is now in the circulation of the global economy with 18.8 million units. The production of these Bitcoins, as is known, takes place through computers that consume energy.

While Henry Ford's vision could not have been realized by taking the first steps in his time, the fact that energy is taken as the basis for all the world's wealth after 100 years shows how far-sighted he is and how long humanity has depended on it. has been on materials. While this wave of change is still fueled by fossil fuels today, it is moving faster than ever towards renewable ways.

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