What if you could fulfill your transaction benefits (considerations) in various ways, including fiat money? Have you ever wondered what the consequences for your business would be if you could fulfill your benefits in ways other than cash? For instance, let’s say you are a shoe manufacturer. To make shoes, you must purchase raw materials like leather and process them into finished products known as shoes. At this time, if you can pay for raw materials with the finished shoes you made instead of fiat currency, you wouldn’t need to take out a loan with interest from the bank. However, the world’s economic system has limited the standard of value exchange to ‘cash,’ commonly referred to as fiat money. We need to understand precisely why banking is so important to entrepreneurs. This is one of the reasons the industry does not surpass finance. After all, money is among the goods whose value is determined by supply and demand. - Joseph’s “just my thoughts”
Every day, I examine the world map. When I zoom in, the map reveals a world I have yet to discover. There are countless unknown places on this planet that I have not experienced. By observing the geography, countries, and attractions, I can learn about history and broaden my perspective on the world. Looking at the map prompts me to reconsider space, time, and culture. For instance, in the Bering Strait, Big Diomede Island belongs to Russia, while Little Diomede Island is part of the United States, and the distance between them is only 3.7 kilometers. The International Date Line passes between these two islands. Even if we were to cross the distance by ship, it would take about 9 minutes at a speed of 15 knots. However, after those 9 minutes, we would find ourselves a full 21 hours behind. This situation illustrates that time is more of a human agreement than a mere physical measurement. Ultimately, learning and personal development are fueled by continuous questioning and doubt. ...