Tao of Finance

Generating the trillions of dollars in additional financing required to fulfill the 17 sustainable development goals and avoid radical climate change is one of the greatest challenges confronting global society today.

Commitments of national governments and projected private sector financial institutions are likely to be grossly inadequate. This WAAS project examines the feasibility of introducing a digital parallel currency mechanism for sustainable financing of our common future and in particular, the United Nations Sustainable Development Goals.

Development needs have primarily been financed through private sector financing, conventional public sector funding and philanthropic commitment. These traditional sources are not sufficient in scale and speed to meet the pressing finance needs. The world community is too busy repairing, stabilizing and refunding the given to maintain the stability of the existing system, relying on a mechanical model.

Out-of-the-box approaches which blend in with the given tools, providing new financial engineering are required. The introduction of a parallel electronic currency specifically designed to finance global commons and human-centered economy would provide a systemic non-linear and complex approach to create the necessary resources to achieve the UN SDGs and addressing asymmetric shocks (COVID-19, among others), while stabilizing the existing monetary system.

In over 150 panels, conferences, background discussions and experts hearings, we have been exploring the question on ‘How to finance our common future? and How to generate the 5 Trillion USD annually over the next 20 years to finance our global commons?’ Currently multiple domestic road shows are in the making to address governmental officials and academics to refine the argument and to identify possibilities to implement our findings.