Why We Named Our Currency ‘The Bron’
Data is the new money
It’s a long story… one which began more than 4000 years ago and has a lot to do with the history of money.
The Bronze Age is dated to mid-4th millennium BC, and to the early 2nd millennium BC in China. It was a prosperous period for the development of many civilisations, until 1000–1200 BC, or the late Bronze age collapse, which heralded the beginning of the early Iron age.
It is named the Bronze age after the alloy which combines copper (~88%) and tin (~12%), bronze was the hardest metal during this period. It was sought after and used for all things from shipbuilding, to jewellery, to forging swords, spears, shields and even as a form of money. What is interesting about the Bronze age, is that copper and tin are sourced from very different parts of the ancient world. Due to the increasing societal reliance on bronze as a commodity, one of the first complex global trade networks among competing civilisations was born.
Bronze represents one of the first commodities which was also used as money.
Commodity money consists of objects that have intrinsic value as well as value in their use as money. Before coinage was introduced in the late Iron Age, people had to barter their commodities, goods and/or services to exchange value. This process of exchange could have been easily facilitated by a proto-money known as “ring money”. Ring money is gold or bronze rings of different weights which hold intrinsic value. Making them an ideal medium for exchange.
Money is one of humanity’s most remarkable yet poorly understood inventions.
For this reason, money has been improving for centuries, from it’s humble bronze ring beginnings, to copper, gold and silver coins, into paper and now digital money in its current representative model, fiat. Humanity is constantly coming up with more efficient ways to transfer capital and represent value, cryptocurrency is another step to improving the age old innovation of money.
Data is fast becoming one of the most important commodities of the modern era.
In the same way bronze is one of the first metals which was also used as a medium for exchange…the commodity money of the Bronze age.
Data is considered to be the commodity of of the internet, the information age. It will be utilised for everything, from AI and machine learning algorithms to building your own digital identity. Data is the glue which will hold together the way we push humanities progress into the future.
As with many things it is essential that we learn from the past. It is for this reason we are called bron.tech and our native currency is the Bron. Data is a modern commodity which should also be a currency, in the same way bronze was catalyst for progress to many great civilisations millennia ago, data will be to individuals in our modern, globalised society.
bron.tech envisage the individual to take control of their own data, and gain value from exchanging it as a commodity, the Bron is the cryptocurrency to facilitate this exchange.