Name: Goats, Blockchain and the Future of Money | Fariel Salahuddin | TED
Uploaded: 2022-04-27T13:04:07.000Z
Duration: 9 min 14 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

And today I will be sharing the story of how that came to be about.

I visited a small, remote village in Pakistan

were living without access to basic facilities

The community was bussing water two hours from Karachi.

that their livestock went without water every other day.

As I sat there thinking about this issue,

the solution literally walked in front of me.

A herd of more than 100 goats crossed my path.

I took a chance and asked the village elder:

Would they consider paying me for their pump in goats?

and I became the proud owner of 40 goats.

to honor Abraham's willingness to sacrifice Isaac.

asking my friends and family to buy their Eid goat from me that year.

And even after paying for a team to do transport and manage them,

I more than recovered the cost of the pump.

This experience made me question the idea of money

and how it has changed and evolved for us.

Sumerians used measured quantity of barley as money.

But as the trading circle grew beyond one village,

money's key characteristics changed and evolved.

Money not only needed to reliably store value

only when they're validated by an external authority,

to bypass the need for this central authority.

Today, the value of any asset can be transferred

So technology is not only disrupting the need

to disrupt and democratize economic power

By removing the need for inefficient and expensive intermediaries,

Livestock is very abundant in these communities.

Farmers literally use their goats and cows

They will sell an animal when they need cash,

such as to buy fodder for the rest of the herd,

But these communities have never been able

Our farmers are able to convert 15 goats into a solar water pump.

to fulfill their own needs when they need it.

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Goats, Blockchain and the Future of Money | Fariel Salahuddin | TED

literally

potential

grocery

average