Fariel Salahuddin: Goats, blockchain and the future of money

Hello, crypto enthusiasts! Today, I’m exploring Fariel Salahuddin’s TED Talk titled "Goats, Blockchain, and the Future of Money." Delivered at TEDWomen 2021, this talk dives into an innovative approach to currency that uses livestock to empower smallholder farmers in rural areas, particularly in Pakistan. Salahuddin, an alternative currency enthusiast and TED Fellow, provides a fresh perspective on how the evolution of money—from bartering to blockchain—can foster economic self-reliance and inclusion.

Innovative Use of Livestock as Currency

In her talk, Salahuddin shares a captivating story of her experience in a remote Pakistani village where she used goats as a form of payment for a solar water pump. This anecdote not only highlights her innovative thinking but also illustrates the potential for livestock to serve as a reliable form of currency in rural communities. By leveraging local resources, farmers can acquire essential goods and services without relying on traditional cash-based systems.

Bridging Traditional and Modern Economies

Salahuddin effectively bridges the gap between traditional barter systems and modern digital economies. She explains how blockchain technology can tokenize assets like livestock, enabling farmers to convert their resources into digital currency. This approach promises to democratize economic power, eliminate costly intermediaries, and promote self-reliance among smallholder farmers.

Emphasis on Economic Inclusion

One of the most compelling aspects of the talk is its focus on economic inclusion. Salahuddin envisions a future where farmers can use digitized assets to access a range of goods and services, from smartphones to educational expenses. By empowering individuals to use what they grow and raise as money, this model has the potential to create a more inclusive and equitable economic system.