Goats, blockchain and the future of money | Fariel Salahuddin

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4.1 • 11.9K Ratings

🗓️ 28 March 2022

⏱️ 10 minutes

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Summary

What if smallholder farmers could use their produce and livestock to pay for goods and services? TED Fellow and alternative currency enthusiast Fariel Salahuddin is working to make this a reality in places including rural Pakistan, where basic necessities like water and electricity are often expensive or inaccessible. She explores how the way we exchange value has evolved over time -- from bartering to blockchain -- and shares a new perspective on currency that promotes self-reliance for farmers and creates a more inclusive economy.

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Transcript

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0:00.0	I'm Elise Hugh. You're listening to TED Talks Daily. If you hear the term alternative currencies and want to tune out, today's talk could change your mind. It's one of my favorite talks from TED Women in 2021. It comes from Farial Salahoudine, who's known as The Goat Lady. I'll let her explain why in her
0:25.1	delightful eye-opening talk. Hi, my name is Farial, but back home, I'm also called the Goat Lady.
0:38.6	And today, I will be sharing the story of how that came to be about.
0:46.1	In 2015, I visited a small remote village in Pakistan called Patan Goat.
0:55.0	The residents of Patan Goat were living without access to basic facilities,
1:03.0	such as water and electricity.
1:07.0	The community was busing water two hours from Karachi.
1:13.4	This made their water so expensive
1:16.4	that their livestock went without water every other day.
1:23.8	Bathing and laundry was a luxury.
1:28.3	The solution was simple.
1:31.3	A solar water pump, but that would cost $10,000.
1:36.3	And for a community where the average household earned just about $70 a month. This was beyond their affordability.
1:52.0	As I sat there thinking about this issue, the solution literally walked in front of me.
2:01.7	A herd of more than 100 goats crossed my path.
2:07.7	And I thought to myself, that is a lot of goats.
2:14.0	I took a chance and asked the village elder,
2:19.5	would they consider paying me for their pump in goats?
2:24.4	He agreed.
2:26.0	And that is how Patan goat got its pump,
2:29.7	and I became the proud owner of 40 goats.
2:39.4	Thank you. and I became the proud owner of 40 goats. A few months down the line,
	...

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