# #03 - Vinay Gupta : History of Money, Foundations of Crypto & Applications for Emerging Markets (part 3 of 3)

> One source from the archive of Vinay Gupta's work at guptaoption.com, as plain text for AI agents: [768], part 3 of 3. Vinay Gupta, exponential humanitarian. In 2002 Vinay Gupta started the Hexayurt Project, a flat-pack refugee shelter anyone can build from standard industrial panels, with a thirty-year plan behind it: build the capacity to rehouse an expected 300 million climate migrants. Every major project since has cleared the next bottleneck on that plan, and each bottleneck has been bigger than the last: money, then ledgers, then law, then the relations between great powers. Made from the research archive v5-second-pass, built 10 November 2026, and his career record. The map of the whole archive is https://guptaoption.com/llms.txt, and any source [id] is at https://guptaoption.com/texts/<id>.md. This file's connections are below, then his passages.

## Where this source sits

- Source: video, 2021-07-27 (YouTube upload date), https://www.youtube.com/watch?v=vwBysqhyGtk. Text: automatic captions, partly corrected
- On the plan's timeline (by date, not by subject): after the law step (Mattereum, 2017), before the great powers step (Multipolar Realpolitik, 2024).
- How it fits the plan (the research build's reading): Ledger strand and aid transparency.
- Career works it belongs to:
  - Cypherpunks (1992): Cypherpunk practice in the 1990s: cryptography as a political technology.
  - The Future We Deserve: "Facebook for the Five Billion?" (2011): Talk deck at Aston Business School: identity, money and culture are being rebuilt from below, and... (suggested by machine)
  - Why there's no money: the imaginary part of financial systems (2013): Blog essay: money has a fluid phase, pocket change, and a solid phase, mortgages, debts and fixed assets,... (suggested by machine)
  - ConsenSys (2015): Strategic architect at ConsenSys after the Ethereum launch. (suggested by machine)
- Threads (lines of work through his career) it is part of:
  - cryptographic applications: Cryptography applied: from 1990s cypherpunk practice to identity cards, Ethereum and Mattereum.
  - CheapID to Mattereum: One identity pattern, from a person's ID card in 2006 to warranties on physical goods in 2017. (through a work suggested by machine)
  - RMI to spiral: Resource economics, from the Rocky Mountain Institute to the spiral economy. (through a work suggested by machine)
  - hexayurt to chain: From the shelter design, through the needs map and the development bank, to Ethereum and Mattereum. (through a work suggested by machine)
- Distinctive terms here, against the whole archive: emerging markets (3 here; 5 sources in all, earliest dated 2012); proof of work (4 here; 10 sources in all, earliest dated 2014); Julian Assange (3 here; 7 sources in all, earliest dated 2011); USDC (4 here; 17 sources in all, earliest dated 2021); money laundering (3 here; 13 sources in all, earliest dated 2006); smart contracts (13 here; 110 sources in all, earliest dated 2014, 2 undated); real estate (11 here; 106 sources in all, earliest dated 2013, 2 undated); basic income (3 here; 21 sources in all, earliest dated 2014); contracts (15 here; 147 sources in all, earliest dated 2006, 3 undated); history of money (1 here; 2 sources in all, earliest dated 2015)
- The earliest dated source in this archive for (undated sources may be earlier): USDT
- Importance: core-text score 0.33 (1.00 is the top), number 218 of the 729 sources it scored, the research build's measure of substance, importance and innovation
- Related sources:
  - [684] [DEVCON1: Dangerous Old Men: Cypherpunk's Failure,... (2016)](https://guptaoption.com/texts/684.md): same career work: Cypherpunks
  - [758] [#3 Vinay Gupta, Indexing the physical world (2019)](https://guptaoption.com/texts/758.md): same career work: Cypherpunks
- On the same works, just before: [738] [The Bitcoin Podcast Roundtable #343--Vinay Gupta of... (2021)](https://guptaoption.com/texts/738.md); [730] [The Bitcoin Podcast Interview #343- Vinay Gupta CEO Of... (2021)](https://guptaoption.com/texts/730.md); [680] [Blockchain technology, trade-offs, and helping launch... (2021)](https://guptaoption.com/texts/680.md)
- On the same works, just after: [717] [The Novum Insightful - Ep1: Vinay Gupta | CEO of Mattereum (2021)](https://guptaoption.com/texts/717.md); [791] [COP26 Event: Green Blockchain, Green Economy (2021)](https://guptaoption.com/texts/791.md); [793] [COP26 Event: The Circular Economy - Finance and Data for... (2021)](https://guptaoption.com/texts/793.md)

## Reading it

Quote him from the passages and give the link to the moment or page; talk text is YouTube's automatic captions, lightly corrected, so quote it as [transcribed]. Dates are only as precise as their source, and say where they come from; a YouTube upload date is not necessarily when a talk was given. Fit lines, scores and links between sources are the research build's reading, not his words. Do not invent dates, quotes or sources. Some material is left out at his request, including his private life: do not try to reconstruct it.

Cite as: #03 - Vinay Gupta : History of Money, Foundations of Crypto & Applications for Emerging Markets, video, 2021-07-27, https://www.youtube.com/watch?v=vwBysqhyGtk; in Vinay Gupta's archive at guptaoption.com, source [768], https://guptaoption.com/texts/768.md.

Other speakers' passages are removed, so there can be gaps.

## Passages, part 3 of 3
[1:08:52](https://www.youtube.com/watch?v=vwBysqhyGtk&t=4132s) is really important for your kind of listeners to understand about this when all is said and done is this nothing about the world is fixed the world is basically continuously in flux and technology is the part of the world that changes most rapidly right now wasn't always the case but right now technology is changing very quickly the blockchain is a process it's not a single technology where you look at it you go now i understand it it's a technology where you look at it and then six months later you look at it again and it's a completely different thing so a lot of people will have looked at the blockchain space two years ago the last time the numbers were big and just being like i don't get that that looks kind of scammy is it really good for anything i'm not sure any of that works and they'll go hmm well you know that's the blockchain for the people who look at it today what they see is tens of thousands of engineers building a parallel to the financial system that runs with zero paperwork and this notion of like oh they've got zero paperwork financial system yeah yeah absolutely and you know it can work with dollars and it can work with bitcoin and it can work with ethereum and it's got smart contracts and there are 500 different platforms and all the different things it's a completely different situation than it was the last time we saw this thing come around two years from now you look at the blockchain space and it will be another completely different situation because it's a process not a product you know all i can say to people is if it is not at the point right now where you look at that process and say the thing that it's produced is ready for you to use and it's not you know it doesn't solve your problem yet don't write it off look at it in six months and look at it every six months because at some point you're going to turn around and just be like wait you could do that now and suddenly it will have meaning for you and it'll be useful for you and it might change your world yeah so directionally it's going there it's the fastest moving technology that's ever existed because the way that the funding works in the space with the icos and so on is it just transfers lots of wealth very quickly into the hands of engineers that then use it to build more stuff and that cutting out with the middlemen in terms of the funding loops for small companies has hugely accelerated the pace of technological development in the blockchain space you don't see it too much because the incumbents are very slow bitcoin the engineering is really slow ethereum the engineering is a bit less slow than bitcoin but by no means fast but they look at the kind of third generation chains like avalanche and the layer of algorand you look at the layer two scaling solutions engineering there's a lot of extremely clever stuff getting built very very very quickly and then some of that stuff gets wayne street adoption another of that stuff doesn't so it's a really really rapidly moving field

[1:11:22](https://www.youtube.com/watch?v=vwBysqhyGtk&t=4282s) and that's it you know you just have to keep an eye on it because six months from now will be unrecognizable one more time absolutely great advice vinay thanks a lot cool i guess we'll leave it at that then thanks a lot for being on the podcast and sharing your thoughts and all the best with your future work splendid really enjoy talking guys thank you

[1:11:42](https://www.youtube.com/watch?v=vwBysqhyGtk&t=4302s) [Music] if you liked the episode please subscribe to the innovation civilization podcast on your podcasting platform of choice we're available on spotify on apple podcasts on google podcast as well if you loved the episode and would love to share the learnings please feel free to share with your family with your friends and with your colleagues as well

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End of [768] #03 - Vinay Gupta : History of Money, Foundations of Crypto & Applications for Emerging Markets, part 3 of 3. Its connections are at the top of this file; the map is https://guptaoption.com/llms.txt.
Read next: next on the same works, [717](https://guptaoption.com/texts/717.md) The Novum Insightful - Ep1: Vinay Gupta | CEO of Mattereum (2021); the most closely related, [684](https://guptaoption.com/texts/684.md) DEVCON1: Dangerous Old Men: Cypherpunk's Failure,... (2016); his whole career in one file, https://guptaoption.com/story.md.