Is there such a thing as “too much money?” Can money ever be over-printed? The short answer is, “Yes.” And in addition to inflation, there are also environmental consequences to consider.
Since the early 1700s, America has greatly depended on cotton. Today, when our “paper” currency is composed of 75 percent cotton, our need for the crop has grown to massive proportions. Over the last two centuries, we’ve gone through drastic means to obtain, it from plowing land to enslaving races. In the midst of it all, however, there are environmental concerns we’ve forgotten to look at.
Cotton stands as the most intensive pesticide crop in the world. As pesticides are consistently released into the atmosphere, hazards to both the environment and human life become staggering, as well as the lives of essential agricultural pollinators like bees. Herbicides typically remain in cotton after it is picked, exposing all who handle dollar bills to dangerous chemicals, and cotton takes up heavy portions of agricultural land that local peoples require for natural food growth.
As the world of digital finance continues to expand, a bright light can be seen at the end of this once darkened tunnel. Since 2008, virtual currencies such as Bitcoin have offered people a new way to fund their aspirations… While simultaneously limiting cotton consumption and keeping human life safe and unharmed. Digital currencies exist via the blockchain (a secure transaction ledger database), where transactions are calibrated online. This gives users an extra edge of security and diminishes the need for more cotton.
GameCredits, one of the world’s newest digital currencies, is presently seeking to make its mark. Coming to fruition in 2015, GameCredits is headquartered in London, and alongside its crypto-cousins, is looking to solve many of the problems that come with traditional banking.
Victor Alejandro, the platform’s Chief Operating Officer, has made it his primary focus to maintain daily operations and business continuity, while also acting as an advisor and thought-leader within the organization.
“GameCredits is the only project that seeks to merge the gaming industry with a socially interchangeable cryptocurrency ideal for in-game play with boundless applicable implementations,” Alejandro told Planet Experts. “GameCredits’ primary initiative consists of developing a currency-driven gaming platform focused on providing an elegant, secure and robust system that can replace existing in-game purchasing options and mechanics.”
Gamers and tech-geniuses aren’t the only people GameCredits’ is aiming to please. As Bitcoin’s reputation has grown over the years, the currency is now being looked at as “donation gold.” Reputable organizations such as Greenpeace and the BitHope Foundation are two of the major environmentally-based charities that accept donations in the currency. Alejandro feels that GameCredits can follow in Bitcoin’s footsteps and potentially be used to fund similar “green” projects and other motions dedicated to clean, renewable energy.
“Our traditional understanding of a government or monarch-established currency has evolved, and we need not look to big-brother for more paper printed solutions,” said Alejandro.
Cryptocurrencies are still relatively new, and it’s unknown how many environmental clashes we can avoid through their usage. But as the digital age flourishes, we can expect virtual currencies to take over as the predominant monetary entities of the future. Our need for paper has increased, but so has our innovation, and just like our monthly bills and annual tax filings, perhaps the moment has come when money is just one more thing we can trust to the dealings of this ongoing “paperless age.”