Bitcoin Magazine
Gine-ginen Kuɗi: Taswirar Ƙarfin Kuɗi a Zamanin Bitcoin
Kuɗi ne ke ƙayyade inda muke zama, abin da za mu iya biya, da yadda dukiya ke taruwa tsakanin tsararraki. Amma duk da haka, hanyoyin da suke ƙirƙira da rarraba shi sun kasance a ɓoye, ko da yake sakamakonsu ya zama da wuya a rasa gani. Ga ɗan wasan Holland Carlijn Kingma, ɗan jaridar binciken kuɗi Thomas Bollen, da mai binciken kuɗi Martijn Jeroen van der Linden, wannan rashin haɗin kai ya zama ƙwaƙƙwaran aikin The Waterworks of Money. Wannan babban aiki yana taswirar ɓoyayyun gine-ginen tsarin kuɗi ta hanyar zane da raye-raye, yana mai da shi abin fahimta ga mutanen da ke rayuwa a cikinsa ba tare da sauƙaƙa rikitarsa ba.
The Waterworks of Money yana kwatanta tsarin kuɗi a matsayin babbar hanyar sadarwa ta tafkuna, tashoshi, da famfuna, yana bayyana yadda kuɗi ke motsawa ta bankuna, gwamnatoci, kasuwanci, da gidaje. Wasu yankuna suna samun wadataccen ruwa, yayin da wasu ke zama busassu har abada. Zanen da aka samu yana aiki a lokaci ɗaya a matsayin aikin fasaha, kayan aikin ilimi, da nazarin ƙarfin kuɗi.
Aikin ya samo asali ne daga shekaru biyu na bincike, ciki har da hira da fiye da masana 100 a fannin banki, gwamnati, ilimi, da ƙungiyoyin gyaran kuɗi. Kingma ya shafe fiye da sa'o'i 2,200 yana fassara wannan binciken zuwa wani rikitaccen shimfidar gine-gine. Bollen, wanda binciken jaridarsa ke nazarin yadda tsarin kuɗi ke aiki, da van der Linden, wanda bincikensa na ilimi ke nazarin kuɗi da gyaran kuɗi, sun taimaka wajen haɓaka binciken tattalin arziki da labarun da ke bayan aikin.
Ɗaya daga cikin yanayin aikin yana nazarin makomar kuɗi da bitcoin ya tsara. Yayin da bitcoin ke shiga harkokin kuɗi na gargajiya, wani tsarin kuɗi na daban ko dai yana ƙalubalantar tsarin ƙarfin kuɗi da ake da su ko kuma a ƙarshe ya zama wani ɓangare nasu, kuma masu haɗin gwiwar aikin sun lura da duka biyun suna faruwa.
Gabanin Bitcoin Amsterdam, 5-6 ga Nuwamba, inda Bollen zai shiga cikin tattaunawa biyu, na zauna tare da dukan ukun masu haɗin gwiwar aikin don tattauna yadda za a sa kuɗi ya zama bayyane, dangantakar da ke tsakanin tsarin kuɗi da rashin daidaito, da matsayin bitcoin a makomar kuɗin Turai.
BMAG: The Waterworks of Money yana kwatanta tsarin kuɗi a matsayin hanyar sadarwa ta tafkuna, famfuna, da tashoshi, inda wasu sassan al'umma ke samun wadataccen ruwa yayin da wasu ke zama busassu. Bayan shekaru biyu na bincike da hira da masana kuɗi, menene ya fi ba ku mamaki game da yadda kuɗi ke aiki a zahiri? Menene kuke tsammanin jama'a suka fi rashin fahimta game da shi?
Thomas Bollen: Abin da ya fi ba ni mamaki shi ne cewa mutane da yawa da ke cikin tsarin sun san abubuwa da yawa game da yankinsu: abubuwan da suka shafi ribar kuɗi, sarrafa dukiya ko ba da lamuni na jinginar gida. Kaɗan daga cikinsu ne za su iya lura da babban tsarin da suke aiki a cikinsa.Abin da ba a fahimta sosai ba shi ne cewa bankuna suna ƙirƙirar sabon kuɗi lokacin da suke ba da rance. Ba kawai masu shiga tsakani ba ne da ke miƙa ajiyar masu ajiya.
Amma za ka iya zargi talakawa da hakan? A lokacin bincike mun yi magana da yawancin ma'aikatan banki har ma da shugaban wani babban banki wanda bai san cewa suna aiki ne a wata cibiyar ƙirƙirar kuɗi ba.
Idan muna son inganta fahimta ya kamata mu fara daga makarantunmu da jami'o'inmu. Yawancin littattafan karatu har yanzu suna yin kuskure, kuma ilimin tattalin arziki ba ya mai da hankali sosai ga hakan. A shekarar 2022 har ma da kyautar Riksbank a fannin tattalin arziki (kyautar Nobel wadda ba ainihin kyautar Nobel ba ce) an ba da ita ne don binciken da ke gabatar da bankuna a matsayin masu shiga tsakani kawai.
BMAG: Ɗaya daga cikin manyan ra'ayoyin da ke cikin The Waterworks of Money shi ne cewa kuɗi ba ya gudana daidai a cikin al'umma. Samar da gidaje ya zama babbar matsala a Turai da Amurka, yayin da farashin kadarori da arzikin kuɗi ke ƙara wuce albashi. Nawa ne wannan rashin daidaito ya samo asali daga tsarin tsarin kuɗinmu, maimakon manyan ƙarfin tattalin arziki?
Thomas Bollen: Ba zai yiwu a kama hakan a cikin takamaiman lamba ba, saboda abubuwa da yawa suna taka rawa. Amma a bayyane yake cewa tsarin kuɗi ya ƙara tsananta rashin daidaito sosai a duk waɗannan shekarun da bashi ya kasance mai arha ƙwarai.
Ray Dalio, wanda ya kafa asusun bincike na Bridgewater Associates, ya taƙaita shi a shekarar 2019: "Kuɗi kyauta ne ga waɗanda suka cancanci bashi." Ga duk wanda ba shi da kuɗi ko cancantar bashi, ya kasance ba zai iya samu ba.
Bashi mai arha ga attajirai da manyan kamfanoni na ƙasa da ƙasa (waɗanda suka yi amfani da shi don sayen hannun jari da yarjejeniyoyin haɗaka da saye) ya ƙara farashin hannun jari, da na gidaje. Ƙirƙirar kuɗin banki ya haifar da wani nau'in hauhawar farashi na musamman: hauhawar farashin kadarori. Gidaje masu arziki da manyan kamfanoni na ƙasa da ƙasa, waɗanda suka riga sun mallaki waɗannan kadarorin, sun amfana da shi fiye da mutanen da ba su da su ko ƙananan kasuwancin da ba su da irin wannan damar samun bashi mai arha kamar manyan abokan hamayyarsu.
The Waterworks of Money, Carlijn Kingma
BMAG: The Waterworks of Money cike yake da bayanai da ke taimakawa wajen bayyana yadda tsarin kuɗi ke aiki. Wane bangare ne ya fi wahala a kwatanta a tsarin kuɗi? Shin wani abu da kuka koya yayin binciken ya canza yadda kuka tunkari zanen?
Carlijn Kingma: Babban ƙalubale shi ne yadda dukkan sassan suka haɗu. Yaya za ka nuna hakan a fili?
Ruwa shine kwatancin da ya fi dacewa ga kuɗi, kuma yana kai ka nesa. Ruwa mai sauƙin canzawa, kwararar kuɗi, bushewar kuɗi: sun riga sun kasance cikin harshen kuɗi. Hakanan yana da kyau don haɗa sassan tsarin daban-daban, saboda na iya zana bututu da magudanar ruwa da ke gudana tsakaninsu.Amma a wasu wurare kana buƙatar fiye da haka idan kana son zama cikakke daidai. Kuɗi na zuwa da nau'i-nau'i da yawa: kuɗin kayayyaki, kuɗin jama'a, kuɗin bashi na sirri, da kuma nesa da bashi na ɗan gajeren lokaci da kwangilolin repo suma suna iya zama kuɗi ko kusan kuɗi. Ba zai yiwu a zana irin waɗannan nau'ikan ruwa daban-daban da ke gudana ta cikin tsarin ba.
BMAG: An nuna The Waterworks of Money ga masu sauraron fasaha da kuma mutanen da ke sha'awar tattalin arziki, ciki har da a Bitcoin Amsterdam bara. Shin kun lura da bambance-bambance a yadda waɗannan masu sauraro suka amsa aikin? Shin martanin da suka bayar ya yi tasiri a yadda kuke tunani game da rawar fasaha wajen bayyana ra'ayoyi masu rikitarwa?
Carlijn Kingma: Amsar ta dogara ne da abin da mutane suka riga suka sani. Baƙi waɗanda suka fi ilimin kuɗi yawanci suna ƙara yin dariya, saboda suna kama duk ƙananan barkwanci. Mun canza sunan Basel III zuwa "Babel III", alal misali, saboda dokokin banki da aka rubuta bayan rikicin sun haɗu zuwa kusan littattafai masu tsarki guda biyu.
A cikin yanayin makomar bitcoin ɗinmu, The Republic of a Thousand Coins, mun saka barkwanci da yawa game da masu kula da babban banki. Kana iya ganin Alan Greenspan a can a matsayin ɗan tsana mai hurawa. Wannan yana aiki mafi kyau idan ka san wanene shi, kuma taron bitcoin sun fi jama'a sani game da tarihin kuɗi.
Fiye da komai, mun lura cewa fasaha tana buɗe kofofi. Zanen yana ba mutane wurin farawa na gani don tattaunawa. Ko da ba tare da wani ilimin farko ba, misalin yana ba ka damar ganin sakamakon zamantakewa na yadda kuɗi ke gudana.
BMAG: Bincikenku ya yi nazarin yadda rikice-rikicen kuɗi ke ƙarfafa tasirin cibiyoyin da ake ɗauka suna da mahimmanci da ba za su iya faɗuwa ba. Kwanan nan, kun bincika ƙaruwar ikon masu sarrafa kadarori kamar BlackRock da Vanguard. Shin muna ganin canji na gaske a yadda ikon kuɗi ke aiki, ko kuma matsalolin da suka kasance iri ɗaya sun ɗauki sabbin siffofi tun 2008?
Martijn Jeroen van der Linden: Bayan rikicin 2008, an sami yarjejeniya gama gari tsakanin manyan masu tsara manufofi, cibiyoyin tunani da yawancin masana tattalin arziki cewa akwai buƙatar gyara sashin banki. A Turai, ƙungiyar de Larosière mai tasiri ta kammala cewa musabbabin rikicin sun haɗa da wuce gona da iri na lamuni, rashin bayyanan tsarin hada-hadar kuɗi, haɗarin banki na inuwa, da rarrabuwar kulawa a EU, kuma ta bayar da hujjar cewa "gyara ya zama dole kuma gaggawa." Gyaran banki ya ƙunshi sabbin dokoki masu tsauri, ingantaccen kulawa mai haɗin kai da sabbin hanyoyin gudanar da rikici. Tsarin tushe bai canza ba, ma'ana cewa canji na asali bai taɓa faruwa ba.
Amma tsarin ya kasance mai rauni. Ɗauki misali, 2023. Lokacin da Silicon Valley Bank da Credit Suisse suka shiga matsala, littattafan dabarun rikicin da aka tsara bayan 2008 sun kasance a cikin aljihu. Hukumomin Amurka sun ba da tabbacin duk ajiyar SVB, ciki har da fiye da kashi 90 cikin ɗari sama da iyakar da aka tabbatar. A Switzerland, gwamnati ta goyi bayan ceton Credit Suisse ta hanyar UBS.Masu ba da shawara kan gyaran banki sukan yi iƙirarin cewa sun sa tsarin ya fi aminci. Amma raunin da ke tattare da ba da lamuni na dogon lokaci ta hanyar ajiyar banki da za a iya cirewa har yanzu yana nan. Ko da duk ka'idojin, ba za ka iya hana guduwar banki ba, kuma wannan rauni shi ne ainihin abin da suka ƙi warwarewa. Tsarin banki yana rayuwa ne kawai saboda manyan hanyoyin tsaro na jama'a da gata da aka ba bankuna.
Manyan ƙungiyoyin da ba bankuna ba masu ƙarfi sun fito fili amma ba su taka muhimmiyar rawa a kuɗi da biyan kuɗi ba. Wannan babban bambanci ne tsakanin sassan biyu.
BMAG: Bitcoin ya fara ne a matsayin ƙoƙarin ƙirƙirar kuɗi a wajen ikon gwamnatoci da bankuna. A yau, ana ƙara riƙe shi ta hanyar asusun zuba jari da cibiyoyin kuɗi na gargajiya, ciki har da wasu daga cikin manyan masu sarrafa dukiya da aka yi nazari a cikin aikinka na kwanan nan. Shin wannan haɗakar tana ƙarfafa ikon bitcoin na canza tsarin kuɗi, ko kuma tana haɗarin sake haifar da tattarawar iko da ya fara ƙoƙarin ƙalubalantawa?
Martijn Jeroen van der Linden: A matsayin kadara ta kuɗi, bitcoin ya amfana daga zuba jari daga cibiyoyin kuɗi na gargajiya. Amma ƙara amfani da bitcoin a matsayin zuba jari ya lalata alkawarinsa na tsarin biyan kuɗi na daban.
A lokaci guda, bitcoin da haɓakar stablecoins sun ƙalubalanci bankuna kan kayan aikin biyan kuɗi. Bankunan yanzu suna yin sabbin abubuwa ma: duba Wero, walat ɗin biyan kuɗi da ƙungiyar bankunan Turai suka ƙaddamar a 2024. Wannan canji ne. Amma ya bambanta da gyaran tsarin kuɗi da banki.
BMAG: Aikinka yana tunanin bitcoin a matsayin madadin tsarin kuɗi da ake da shi. Amsterdam kuma tana da tarihin gwajin kuɗi mai ban mamaki, daga haɓakar cibiyoyin kuɗi na zamani zuwa aikin majagaba na David Chaum kan kuɗin dijital na sirri shekaru da yawa kafin bitcoin. Ganin wannan tarihin, yaya kake ganin rawar bitcoin a makomar kuɗin Turai? Shin ra'ayinka ya canza tun da ka fara aiki kan aikin?
Thomas Bollen: Abin da nake godiya game da ƙirar bitcoin shi ne cewa ya yi kama da banki mai cikakken ajiya. Bitcoin ba da'awar wani abu ba ne, don haka ba shi da haɗarin guduwar banki. Ajiyar banki kuwa ita ce: alkawari ne cewa za ka iya cire kuɗinka a kowane lokaci, yayin da banki ba zai taɓa iya cika wannan alkawari ga duk abokan cinikinsa a lokaci ɗaya ba.
Za mu iya koyan abubuwa da yawa daga tarihinmu. Amsterdamsche Wisselbank, wadda aka kafa a 1609 kuma ana ganinta a matsayin bankin tsakiya na farko a duniya, ta fara ne a matsayin banki mai cikakken ajiya: kowace guilden banki tana da goyon bayan tsabar kuɗi a cikin rumbunta. Ta faɗi ne kawai bayan ta fara ba da lamuni a asirce ga Kamfanin Indiya ta Gabas ta Holland.
Wannan shi ne haɗarin kowane gwajin kuɗi: yana iya tafiya a hanya marar kyau. A duniyar crypto, kowane irin kamfanoni sun fara kwaikwayon bankuna. Suna ba da bitcoins na abokan cinikinsu a matsayin lamuni, yayin da waɗannan abokan cinikin har yanzu suna ganin ma'aunin tsabar kuɗinsu a cikin asusunsu. FTX ta Sam Bankman-Fried ta nuna yadda wannan al'ada za ta iya yin mummunan kuskure.Cikakke: Jamhuriyar Tsabar Kuɗi Dubu, Carlijn Kingma
Thomas Bollen zai shiga tattaunawa biyu na kwamitin a Bitcoin Amsterdam a ranar 6 ga Nuwamba, 2026, a Dandalin Taskar Kuɗi. Tarihin Kuɗi na Turai da Makomarsa: Tattalin Arzikin Austriya, Bankuna da Bitcoin (11:00–11:30 na safe), tare da Rahim Taghizadegan da Willem Middelkoop, da Staat vs. de Markt: Hoeveel Overheid Hebben We Nodig in Geld? (1:55–2:25 na yamma), tare da Paul Buitink da Simon Lelieveldt.
Kalli cikakken binciken raye-raye mai kashi biyu na The Waterworks of Money a YouTube kuma tallafa wa aikin ta hanyar sayen bugu mai iyaka da sa hannu na Carlijn Kingma ko ba da gudummawa ga ci gaba da bincikensa a waterworksofmoney.com/buy.
Gidan Tarihi da Fasaha na Bitcoin (BMAG) yana shirya nune-nunen ƙasa da ƙasa, gwanjo, da haɗin gwiwar masu fasaha da ke bincika bitcoin da tasirinsa na al'ada. Ƙara koyo a museum.b.tc.
Ku kasance tare da mu a Bitcoin Amsterdam, 5–6 ga Nuwamba, 2026. Sami tikitinku a nan kuma yi amfani da lambar BA26-BMAG20 don rangwamen shiga.