OERs — Main Concept
Open educational resources (OERs) are fungible functional units that are expressed in Ethereum: namely ERCs (Ethereum Requests for Comments; smart contracts) that are transacted within the Ethereum Virtual Machine (EVM). The functional units are akin to neurons that wider systems (brains and nervous systems) — economies — use for trade. Other helpful analogies and metaphors of the functional unit include Lego blocks; exchange traded commodities such as apples and oranges; and functional groups in chemistry.
The first point of the idea of the functional unit is not no two units need to be identical in order to exhibit a degree of fungibility. The second point is that total or perfect fungibility such as is the case with currency is not required for markets to achieve “knowledge liquidity.” Third point has to do with overfinancialization.
Financialization is not unique to humanity. The financial actions of debits and credits occur throughout biology at the scale of atoms — why so many biology educational courses carry chemistry course prerequisites. Overfinancialization metastasizes when the processes begin to incur more costs than benefits to a system.
Recall that finance is the application of calculus to the arithmetical doctrine of present value (PV) the idea that having a sum of money is more valuable in the present because it will be used to create more value, and therefore will more than pay for itself in the future. However, in material terms, a society cannot very well invest its entire aggregate effort into building for the future without taking care of present requirements (feeding its people, making other decisions about resources). Therefore, there is a line in which financialization can lead metastases. Douglas Rushkoff often notes that nothing in the natural world grows the way tech startups are expected to (exponentially): except for cancers. In human physiology, toxic hepatitis occurs when the liver develops inflammations and cannot endure the poisonous “costs of doing business with medications.” The liver’s ability to metabolize (biotransformation) pharmaceuticals can only bear the costs for so long before the organ begins to degrade. Similarly, finance can only take up so much of an economy before the “services” grow redundant and self-defeating.
The real value in cryptocurrencies such as Ethereum’s Ether currency, isn’t in the currency mechanism itself, but in the opportunities for programming degrees of fungibility and functionality into “units.” The relatively flat paradigm of currencies has overstayed its welcome in ultradimensional modernity, a present that requires depth and richness in data. OERs expressed in Ethereum are the signature precursor to the fundamental digital transformation that is taking place in society.
 Any financial operator or engineer worth his or her weight can muster the systems to express what he or she wishes; in the same way that the exact same office, the Supreme Court in the United States, can overturn a 50-year-old interpretation about the exact same case law (Roe v Wade). See also “pitfalls of financial creativity” in “Enron and World Finance.”
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 The first test is in education, where legacy legal risks are minimized, as opposed to, say, finance — where cryptocurrency and decentralization innovators have put the cart before the horse. Later, open source science resources (OSRs), open source legal resources (OLRs), and others will follow education’s path from the flat paradigm of static contractualism that served its highest utility in commanding literal fiefdoms in the 10th century.