100 years ago, Henry Ford proposed ‘energy currency’ to replace gold By Cointelegraph

100 years in the past, Henry Ford proposed ‘power forex’ to interchange gold

In 1921, American industrialist Henry Ford proposed the creation of an “power forex” that might type the idea of a brand new financial system — providing hanging similarities to the peer-to-peer digital money system outlined in Satoshi Nakamoto’s 2008 (BTC) whitepaper.

Entrance web page of the New York Tribune dated Sunday, December 4, 1921. Supply: Library of Congress

Bitcoin as an power forex

On Dec. 4, 1921, the New York Tribune printed an article outlining Ford’s imaginative and prescient of changing gold with an power forex that he believed may break the banking elites’ grip on world wealth and put an finish to wars. He meant to do that by constructing “the world’s biggest energy plant” and creating a brand new forex system primarily based on “models of energy.”

Changing gold, ending wars