JAN3, a company dedicated to accelerating global Bitcoin adoption, recently reiterated a foundational economic argument, emphasizing that money, not markets, paved the way for economic exchange. The company, led by Samson Mow, underscored this perspective by referencing Nick Szabo's influential essay, "The Fabric Of Desires," drawing parallels between Bitcoin's core attributes and ancient monetary principles.
"It’s not markets that made money possible. Money made markets possible," JAN3 stated in a recent tweet. The post further elaborated, > "The arguments being made for Bitcoin today, scarce, durable, trust-minimized, no counterparty, are over a hundred millennia old." This statement champions the idea that the essential characteristics of sound money have been sought by societies for millennia.
Nick Szabo, a renowned computer scientist and legal scholar, extensively explores the historical and theoretical underpinnings of money in his works, including "The Fabric Of Desires" and "Shelling Out: The Origins of Money." Szabo argues that early forms of money emerged as a means to store and transfer wealth across time and space, facilitating complex trade and cooperation long before organized markets were fully developed. He posits that money serves as a technology to coordinate human efforts over extended periods, reducing transaction costs and building trust.
Proponents of Bitcoin, including JAN3, assert that the digital currency embodies these ancient "hard money" principles. Bitcoin's fixed supply cap of 21 million units ensures scarcity, mirroring the limited availability of precious metals. Its decentralized blockchain technology provides trust-minimization through cryptographic proof, removing the need for intermediaries, and its peer-to-peer transaction model eliminates counterparty risk, reflecting a long-standing desire for financial sovereignty.
JAN3, which raised $21 million in funding, is focused on bringing Bitcoin to a billion people by 2030, particularly in emerging markets. The company's advocacy for Bitcoin is rooted in the belief that its design principles align with historical requirements for sound money, positioning it as a tool for financial freedom and a foundational element for future economic systems.
