DeFi (Decentralized Finance)

​In part one we discussed decentralizing our health. In part two we are discussing DeFi (Decentralized Finance) to further liberate you from the systems that oppress us. If you knew me years ago, you probably heard me mention BITCOIN at some point in time because I am a strong advocate for the technology that is emerging on the blockchain. Now the technology has advanced to a point where we may find true financial liberation from banks and gov't.

To understand what and how DeFi works, watch the video attached because in this post we are focusing on how it can be applied to our communities.

Some ways That DeFi Can Help Minorities:

• Eliminate Redlining.
• Reduce discrimination in job salaries.
• Reduce discrimination in loans.
• No inflation.
• True financial autonomy.
• and more.

So, why hasn't anyone tried to decentralize their financial systems before? Well, my knowledge is limited to the black movement and the answer is they have. Where is it now? These communities were literally bombed by the United States Gov't and their citizens. If by this time you are unfamiliar with ​Tulsa Greenwood Community, or The Move Bombing in Philadelphia... Just click the links, I won't grill you in this post.

The Aftermath of the Move Bombing

These communities didn't have their own currencies, but they had a community in which they were able to practice group economics. This means they were still reliant upon the US Gov't financial system to some degree. Now think, if those communities were a threat to the status quo by practicing group economics, imagine a community with an entirely decentralized financial system. I got goosebumps just writing that last line. Yes, the power of today's technology coupled with the examples of our ancestor's attempts to decentralize themselves (Tulsa, Maroon Colonies, Quilombos, Move, and Haiti) can be a very pivotal force in the modern revolution.

Even further, when the diaspora can do trade amongst each other and do so in a decentralized way, we begin to become a force in every nation we exist. Imagine the North American Africans doing business with South Africa and then Shipping to the South American Africans. The best part, the overall value of the Diasporic currency never dropped in power because no one needed to do business outside of the community itself. No conversion rates or fees, and transfers within seconds. What if Black Wall Street was able to do this with the motherland? Would things have been different?

the Darker side

Now, there is the dark side that was presented in this video, but there is a darker side for black and brown ppl. Why? Because code can and has been bias. Not too hard to believe right? Those who code, code without empathy or representation so the inherent biases in the coders play out in their logic. As we move into the 4th Industrial Revolution, it isn't the time to have hesitance due to the unknown. It's time that you move into this new revolution ready to make changes for the future generations to come. We have to be in the room with, and coding alongside those who plan to create laws in code for our future offspring. We must be a part of a solution by creating our own decentralized systems especially while it's in the infancy stage of development. The 4th Industrial Revolution is the Wild West, and minority communities have been left out of 75% of these opportunities.

A gift from the
​ancestors

The running joke is that Europeans colonized the world for spices, and they still can't cook. Well, fortunately, the NFT clans that exist have said that NFTs are about culture! Wow, culture... really?! I took a quick look at who was dominating the NFT spaces, and I realized... Damn y'all, it's time to collect reparations. Since black people practically created the culture, they are selling, why would we not get into making ridiculous amounts of income from doing what we do best? Even better, utilizing the same smart contract system that makes DeFi possible, you could weaponize your creations to feed your communities, plant trees, fix streets, etc. So, there you go... A means for income to create your own financial systems around communities you care about.

Imagine blacks being in charge of culture through NFTs. Every time a young white woman steals a dance from a young black girl on tiktok, she gotta pay for that... Brilliant. Also, if you are one of the many blacks that believe we are the originators of culture, NFT the fuck up then and become a lender for other black creatives to get their starts. We are in control of the future we want to see.