Author(s)

Fazal Raheman

Blockchain 5.0 Ltd., Kesklinna Linnaosa, Tallinn, Estonia.

The global debt crisis of mega proportions is heading towards the collapse of our economic systems. Posing as one of the existential threats to humanity, the perpetually increasing debt/GDP ratio projected to rise to 1300% by 2030 has no cure unless a radical new approach replaces or complements our current scarcity-focused, centralization-prone economic approaches. One such approach evolved from the 2008 economic crisis that resulted in the birth of a technology that made decentralization of any ecosystem free of human biases and prejudices. Hailed as the greatest advancement since the invention of the internet, blockchain is a liberating force of the digital age and a potential enabler of the 21^st-century sharing economy (Sharonomics) that transforms scarcity-centered legacy economic systems to one of abundance. Tokenizing that planetary abundance to offset the massive global debt may be a utopian dream at the present time but by applying the law of accelerating returns to the technology advancements of this century, a credible path can be hypothesized and pursued. The principle aim of this research is to provide theoretical support to such a hypothesis suggesting future research avenues towards a possible solution. The research methodology follows the narrative and integrative literature review approach based on peer-reviewed reports.

Sharing Economy, Global Debt, Abundance, Existential Threat, Blockchain, Financialization

Raheman, F. (2024) Harvesting, Tokenizing, and Sharing the Influence of Planetary Abundance to Mitigate the Global Debt Catastrophe. Theoretical Economics Letters, 14, 125-163. doi: 10.4236/tel.2024.141008.