The concept of time is something very abstract, tangible, yet intangible in its nature. It presents the passage of time towards something in the future and away from something in our past. It is a major influence in the small and big decisions in life, it is an element of many scientific theories and formulas and proper understanding of the hidden strengths of time are rarely spoken about, let alone put to action.

Nature leverages time so beautifully, by birth and merciless death, by erosion and corrosion, by its constant flow of energy.

Time is relative in the sense that it subjectively passes faster when we enjoy ourselves or seek to distract ourselves by means of external pleasure such as music. It subjectively passes slower in times of irritation and anguish. Time is objective in the sense that it can be measured and leveraged to record the passage of time. It can quantify other metrics by means of frequency, such as the frequency of the earth or depict the way music resonates to us. It can help us track productivity, it allows us to set goals in life.

Time sets forth to create the unseen structure of society. It is a severely underestimated and underleveraged metric in ones life. Time is money.

No, I don’t mean that in the sense of “you should work more time to get more money”. I mean with it that:

the value of time available to you is a form of money in itself

Whereas many members in our modern society choose to trade off a lot of time for little monetary compensation and the promise of a pension when our lives have already been lived keeps us busy in the cycle of capitalism and conformity. The urge of one to fit in and to consume goods — and for one to chase the ego by wasting time on social media or by buying a metal heap of scrap with a socially admired logo on it — has gained priority in our modern society.

While this is the most prevalent and popular way of living, it also the most detrimental to our personal exploratory adventure

The rise of a new currency: time and diversity at its core

Now that we have laid out the importance of time in one’s life we will take a look at a technological advancement which has gained traction lately.

I use this example to convey the power of time to you and to bring this interesting project to your attention.

The project we will take a look at is similar to Bitcoin, a virtual currency used to transact monetary value freely around the globe, no permission required.

One characteristic of the Proof of Work system leveraged by Bitcoin is that it requires a lot of electricity in order to secure and sustain the network.

At time of writing the ecological output of Bitcoin totals more than 3 billion dollars per annum and is set to rise in the future.

Whereas Bitcoin has been around for the last 10 years, the novel project Nyzo has recognised and leveraged upon the aspect of time in order to substitute the electricity required for time. Both create a solid peg to a tangible and verifiable asset, the key difference here lies in the fact that Nyzo does not pollute the planet to sustain itself, it merely leverages upon what is already available: the forever-progressing and omnipresent time.

To learn more about the currency of time and diversity, click here.

Why am I bringing this up?

I am heavily involved in the space of virtual currencies and wish to teach people about the gravity of this development.

One may think that I am advertising, but I am genuinely impressed by the fact that it took someone TEN YEARS to recognise the power of time in this technological field. It puts one to the challenge: why was the potential not discovered or leveraged upon earlier in the cryptocurrency space? What other industries can be improved by understanding the importance of time? How can time be optimised to influence our lives and businesses in the best way possible?

I hope you realise the potential time has to offer after this short but powerful article.

May the power of time be with you.