Global systemic failure & reform
• For the first time in history, we possess all the resources, science, and technology required to solve all problems arising in our external world. At the same time, we have never been closer to civilizational collapse.
• Having served for 30 years on the frontlines of the international system, I witnessed firsthand the crumbling of the “rules-based international order” and the pressing need for a reform of our political and economic governance architecture.
• Built on a misguided presumption of rationality, morality, and good faith, our global institutions have failed to deliver on their promises.
• Instead, our Stone Age instincts have been running the show, intoxicated by a generalized psychosis of scarcity and a monetary system fueled by debt and fear.

What has money got to do with it?
• The short answer is: Everything. This session is not about bailing out the sinking ship – it is about building an ark while the band is still playing. Can we build a monetary system that not only mirrors BTC in breaking free from the vicious cycle of debt and inflation, but also structurally overcomes the scarcity psychosis that is the primary cause for war, exploitation, and environmental degradation?
• The most valuable asset we possess is time. Given its intrinsic value, equal distribution, and fixed supply in proportion to our population – a combination of qualities possessed neither by money nor by any other asset – time is an incorruptible, yet naturally elastic, currency we can use instead of fiat money and complementary to BTC.
• By combining and evolving elements of traditional bartering, time banking, and "banks of favors," the proposed time-based monetary system (TAM) aims to translate the social dynamics of early human societies – where wealth and status flowed from contribution rather than extraction – into a scalable global infrastructure.
• The rationale is to invert the psychosocial dynamics underlying the current economy – away from structural fear, competition, and extraction, and towards a self-reinforcing cycle of trust, cooperation, and contribution. This is not achieved through coercion, morality, or legal obligation, but by systemically embedding collective behavioral patterns rooted in neurobiology and social psychology.

Preliminary questions
Can we build a decentralized ledger with the following characteristics?

1. Creation: Currency is created only through actual contributions of added value (services, goods, or energy) to the market.

2. Elimination: Currency is burned only by purchasing contributions from other market participants.

3. Proof: Occurrence of a contribution is proven by its purchase by another market participant.

4. Units: The currency is based on units of lifetime (“earned time credits” ETC).

5. Pricing: The value of each contribution in ETC is negotiated freely by market participants.

6. Transfer: The currency is freely transferable and exchangeable for any existing asset without allowing systemic contamination through legacy debt.

These questions have come up during my recent sabbatical work on an envisaged Manifesto on Global Governance Reform and made me realize that I cannot possibly complete this task on my own. I therefore would like to invite you to join the effort. This Socratic Seminar is a first step in opening my reflections to broader conversation and, hopefully, a co-creative process.

I look forward to our discussion!