Session 2 - Dismantling Global Finance
MoneyLab: Coining Alternatives
Conference Day 1 (21 March 2014)
>> Tiziana Terranova (IT)
Virtual Money and the Currency of the Commons
Terranova addresses tensions, oppositions and possible convergences between post-autonomist analyses of the financial crisis to be found in the writings of post-autonomist authors such as Toni Negri, Christian Marazzi, Andrea Fumagalli, Maurizio Lazzarato and Carlo Vercellone (and their notion of a ‘currency of the common’) and the processes of creation of virtual currency. It reviews some of the points of tensions and the oppositions to a project such as Bitcoin (such as its extractivist model of money creation as mining and its faith in algorithms), but also some of the convergences in the drive to experiment with a constituent critique of financial capital. What kind of relation can be drawn between virtual money and the kind of currency which would support alternatives to neoliberal capital? How can social struggles and subjectivities be brought to bear on the process of money creation? If money is a social convention, now inflected by the powers of digital communication and computation, while the social is a relation, what could be the role of social network technologies in practical experimentation with virtual currency creation?