TED Talks Daily Goats, blockchain and the future of money | Fariel Salahuddin
Mar 28, 2022
Fariel Salahuddin, a TED Fellow and alternative currency expert, tackles how blockchain technology can revolutionize economic access for smallholder farmers in rural Pakistan. She shares her transformative encounters with goats, illustrating how livestock can serve as currency to purchase essentials like water. The conversation dives into the history of money, transitioning from bartering to blockchain, and highlights innovative models that can empower farmers, fostering self-reliance and inclusivity in their economies.
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The Goat Lady Origin Story
- Fariel Salahuddin, visiting Pathan Goat, found residents lacked basic necessities like water and electricity due to high costs.
- She proposed paying for a solar water pump with goats, a readily available resource in the village.
Profiting from Goats
- During Eid, the demand for goats increases, so Fariel sold her goats via Facebook.
- This covered the pump's cost and generated a profit, prompting her to rethink money's nature.
Evolution of Money
- Historically, money evolved from barley to coins and paper, requiring validation from a central authority.
- Technology like blockchain now allows direct value transfer, bypassing this central authority.