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”
In 1958, German psychopathologist Klaus Conrad introduced the term “Apophenia” to define the cognitive process of identifying patterns and connections between entirely unrelated ideas. While this phenomenon significantly contributes to human creativity, it can also result in misconceptions or mistakes. This type of error is referred to as “Pareidolia.” Interestingly, both maniacs and geniuses may stem from similar origins. - Joseph’s “just my thoughts”