News·Opentensor Blog·Jun 18, 2024, 00:48 UTC

Supercommodities for Decentralized Economies

“We stay because we believe. We leave because we are disillusioned. We come back because we are lost. We die because we are committed.” — Jesus Raza, the Mexican revolutionary character, brilliantly played by Jack Palance in The Professionals (1966) In the next few hundred words I will tell you a story. You are in this story, and the story is better because of you. This story is about how to grow future economies. Even if you have no interest in economics, you will still get something out of this story, because it is not just about economics — it is about much more. Are you aware that something very big is happening in the name of decentralization? Some are calling it a revolution. Whatever it may be, let me tell you that it is solid, long lasting, and fundamental. What you are about to read is only my impressionistic view, but after you finish reading it, I believe you will get a sense of what the future really will be. You may even nod your head in agreement, perhaps tentatively, that this new economic future almost feels inevitable. We can all agree, by virtue of various encounters in our own lives in the real world, that democracies alone do not ensure people’s freedom. Look closer at the ground-level into the very day-to-day lives of ordinary people. What do you see? It is the commodities that are the life-blood of people’s freedom. Wheat, corn, soybeans, coffee, cocoa, cattle, pork, poultry, timber, oil, gas, metals, plastics, the list goes on. Economic value of these commodities is no chump change. The total annual value of global commodity market for the year 2023 exceeds US$12 trillion (rough estimate only). Wherever people have unfettered access at affordable prices to these commodities, wherever sovereign nations have healthy control over their natural resources, there we see in action the freedom’s real and tangible benefits to people. Something very similar is coming to life in the ecosystems of decentralization: A new category of commodity has come to

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