The Africa Bitcoin Conference was held in Accra Ghana, and I attended it on December. This conference may not seem appropriate for a professor of public health with an extensive background in community and health education, but it was a pivotal trip for me because I visited my father’s country, Ghana, for the very first time. It also allowed me to see the resilience and beauty of Ghanaians and their struggle for freedom.
In Ghana I had the opportunity to meet incredibly intelligent people, from community educators and engineers from all over the world. Some of them were Canadians. On a hot and sunny day, I met my first uncle and we strolled around Kwame-Nkrumah Square. The park that houses Nkrumah’s Mausoleum is where we toured. My uncle was proud to walk with me and look at the landmarks and memorabilia. We also learned about Kwame Nkrumah’s political life as the president of Ghana. Nkrumah was the man who led Ghana into independence, which is celebrated in Ghana and by many Africans.
Few days later I visited the University of Ghana’s Legon Campus, an intellectually stimulating and beautiful campus. I entered the campus bookshop and immediately became interested in books that discussed decentralized governance and central banking. Ivor ageman-duah’s and Kwamena Ahwoi’s books were my favorites.
It made me reflect on the issues raised at ABC in relation to centralization. The issues raised made me realise that fiat money, a centralized currency imposed by governments on millions of citizens, was harmful for public health. This is because the money is marked by corruption, debts, colonial controls, and a lack of transparency. If money wasn’t built on debt, how many African lives would have been spared, wars avoided and workers and businesses released from their economic chains?
It is about the choices we make as individuals to safeguard ourselves, our families and our community. We can build on our previous actions and continue treating the symptoms of an unreliable monetary system if we keep repeating them. In conclusion, we should explore new forms of money such as bitcoin to make society more stable.
What is money?
The money is the unit of account and store of value. [1]. Our money is not a storehouse of value. People must now earn money in two ways: work Earning a salary is the first step, then deciding how to invest some of it in either assets or financial Due to currency devaluation and inflation, the dollar value of consumers’ dollars has decreased. It is a situation that negatively affects the lives of people and their health because they are unable to afford their homes. The cost of fuel and food also increases. [2]. Debt and financial Stress is linked to adverse health outcomes, such as depression and suicide ideas, obesity, cardiovascular disease, and diabetes [3, 4]. The global epidemic of these diseases is a fact.
Research has historically overlooked the economics of fiat and debt. [5]. In some countries, the central government controls money, printing it out of thin-air and servicing debts that contribute to crises. The rules of money creation and circulation are also opaque for the average person. Working-class individuals who invest in money depreciating over time are hurt by this. There is therefore a demand for a money that can’t be devalued by the central government so that people are able to preserve their hard-earned savings. Bitcoin, for example, can encourage people to save more money by promoting low-time preferences. work Reduce stress, and the negative effects on mental health associated with it. financial Fear of the Future
Bitcoin is open software code which allows anyone to join an open peer-topeer money system. It is controlled by rules, not rulers. In more detail, Bitcoin is a new deflationary currency network which is counter to fiat currencies that operate around the world. You should reconsider Bitcoin and consider why you might be ignoring it. Bitcoin is not “crypto” It is not true that FTX or other fraudulent exchanges are the source of scams. You can read the following books to learn more about how money is created and what it does in our society.
- Fiat Standard, by Saifedean AMmous
- Daniel Hershberger’s Bitcoin is better.
- Seb Bunney, The Hidden Cost of Money.
- Jeff Booth’s The Price of Tomorrow.
- Fiat Ruins everything, by Jimmy Song
- Broken Money by Lyn alden
We must recognize that debt-based money poses a serious public health risk.
The Base Layer of the Health Impact Pyramid
Thomas Frieden is an American physician and infectious diseases specialist who published a book in 2010. “A Framework for Public Health Action: The Health Impact Pyramid,” The theory is used widely in today’s health promotion [6]. It reveals in its five layers a hierarchy for public health and healthcare interventions. In the bottom layer, socio-economic factors are the foundation for making the largest population impact. Frieden continues to state that “interventions focusing on the lower levels of the pyramid tend to be more effective because they reach broader segments of society and require less individual effort.”
In light of the socioeconomic importance, public health professionals and those in health care should take action to improve the health of the population by improving the fiat currency and promoting better money. The fiat currency is not able to support the public health initiative if it’s broken. “Income” The following are some examples of how to use “living wages” These factors, however, are not directly related to money. If we continue to advocate for the secondary factors when money breaks, then it’s like asking a doctor to treat the symptoms without first treating the cause.
Public Health Advocacy
Before Frieden’s time, it was almost 100 years. work. The Canadian Public Health Association is a national voice with international connections. [7]. There are many similar organisations around the globe, such as the American Public Health Association (APHA), Africa Healthcare Federation (AHF), European Public Health Association (EPA), Association of Asian Pacific Community Health Organizations and Public Health Association of Australia. The organizations are active in shaping the policy and public discussion in public health. CPHA, for example, plays a key role in advocating issues that deserve national attention. In the last seven years, CPHA brought attention to a number of issues, including mental health, racism, and climate change. Social determinants, such as anti-racism, have gained a lot more attention in recent years both locally and nationally due to its association with colonialism. In Canada, the increased awareness of inequality and the need to address it has resulted in significant renamings of places. Ryerson University is now Toronto Metropolitan University. [8].
This is a very superficial approach to addressing social inequality. As a Ghanaian Caribbean Canadian I find it offensive. Sankofa comes from Akan Tribes of Ghana and is symbolized as a bird with an egg, which represents the future. “Always remember the past for therein lies the future, if forgotten we are destined to repeat it.” [9] It may make sense to rename historic and important places within the city if there’s enough community support. But if the money-based debt is not addressed, the top layer of the problem will remain.
In the past, cowrieshells were used in West Africa as currency. European traders devalued cowrie shells and reduced the economic value. [10]. While European traders disrupted local economies, it is important to consider the bigger issue: that man, regardless of his race, is always in search for more. The same characteristic is present in the centralized money systems that are used in Canada, and all over the world. Money that is not degraded by other humans should be the goal.
Public Health and Money in the Future
It is important that we, as public health professionals understand what money can do to affect social determinants of health. In Canada, the topic of universal basic income has become a major issue. Research and discussion are underway in order to develop a framework. [11]. Past presidential candidates from the United States, as well as other countries have made similar proposals to combat inequalities. We are now entering the election year in Canada as well as the United States.
Three major issues should be considered by professionals in public health and healthcare:
- Listen to and read about the history and innovation of money. Also, learn how fiat currency can have negative effects on society. Natalie Brunell’s Podcast is a notable example. “Hard Money” Preston Pysh show “Bitcoin Fundamentals”Robert Breedlove “What is Money?”Peter McCormack “What Bitcoin Did”Luke Broyles, BTC Sessions and Ben Perrin. Join your local Bitcoin group and learn about Bitcoin from people within your own community. You can also volunteer for nonprofits such as Bitcoin is Better, which aims to promote Bitcoin among the working classes.
- Name Debt Money as a Health Issue. As election seasons begin in the United States, Canada and other countries we are entering now, health professionals and public health workers should raise their voices and call out debt money as a serious health concern. Centralized government can have negative effects on health. financial System on the socioeconomic situation of individuals should be investigated, acknowledged, addressed.
- Promoting public discussion on Bitcoin. Public discussions should focus around the policies needed to safeguard all citizens access to Bitcoin, a decentralized network. We should examine the health and social outcomes of a world economy that draws its energy only from 21,000,000 units divisible. Would life be better, especially in terms of public health?
Please see the following references:
- Manuel Tacanho, (2022) https://mises.org/wire/money-what-it-more-important-question-why-it Date accessed on February 17, 2020
- Ainul Mohsein, A.M., Taib, F.M, & Sani, S.A. (2019). Rising Cost of Life: Fiat Money, Money Creation and the Role. International Journal of Accounting, Finance and Business, IJAFB, 4(22), 112-125
- Swarup, S. S., et al. (2024). “Cardiovascular consequences of financial stress: A systematic review and meta-analysis.” Current Problems in Cardiology, 49(2): 10153.
- Turunen E. and Hiilamo H. Health Effects of Indebtedness : A Systematic Review BMC Public Health, 14, 489 (2014. https://doi.org/10.1186/1471-2458-14-489
- Friedline, T., Chen, Z. & Morrow, S. (2021). Families’ Financial Stress & Well-Being: The Importance of the Economy and Economic Environments. J Fam Econ Iss 42 (Suppl 1), 34–51. https://doi.org/10.1007/s10834-020-09694-9
- Frieden, T.R. (2010, April). A framework to public health: the health impact pyramid. American Journal of Public Health, 100 (4), 590–595. doi:10.2105/AJPH.2009.185652
- Canadian Public Health Association https://www.cpha.ca/vision-and-missionDate of access February 17, 2024
- Toronto City Council approves “Sankofa Square” As new name for Yonge-Dundas Square, and plans are underway to rename City assets with the name Dundas.https://www.toronto.ca/news/toronto-city-council-approves-sankofa-square-as-new-name-for-yonge-dundas-square-and-initiates-plans-to-rename-other-city-assets-that-include-the-name-dundas/ Date accessed on February 17, 2020
- Kwarteng Appiah Kubi (2017), Journal of Applied Christian Leadership Vol. 10: No. 1, 60-69.
- Jan Hogendorn and Marion Johnson, The Shell Money of the Slave Trade https://www.cambridge.org/us/universitypress/subjects/history/regional-history-after-1500/shell-money-slave-trade
- Christl Daba explains when the Canadian government could introduce Universal Basic Income. https://www.ctvnews.ca/canada/when-could-universal-basic-income-start-in-canada-1.6770762. Date of access February 17, 2024
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Source: bitcoinmagazine.com