# Computers & Currencies *The Quest for Great Design* By [Dav](https://paragraph.com/@davialba) · 2024-09-09 --- ![](https://storage.googleapis.com/papyrus_images/44979d6b58fd115f82f79733281950a7.png) Steve Jobs: > We have a chance to make these things \[computers\] beautiful, and we have a chance to communicate something through the design of the objects themselves. Recently, I was watching this [old, evergreen video](https://youtu.be/zshKFeqMyqg?si=BKmxTL3zKwYrv3TW) of Steve’s talk at the 1983 International Design Conference in Aspen, and I’ve found an interesting parallel with **the future of stablecoins**. ### A Work of Art Jobs talked about how the computer industry was taking off at the time. It was crucial for new products on the market to be beautiful — unlike the garbage competitors were putting out, which focused more on monetizing big companies than meeting the needs of everyday people. As we know, for Jobs, “design” was much more than just a product’s look and feel. It was about its essence — **how it works**, whether it was a chair or a smartphone: > In most people’s vocabularies, design means veneer. It’s interior decorating. It’s the fabric of the curtains and the sofa. But to me, nothing could be further from the meaning of design. > > Design is the fundamental soul of a man-made creation that ends up expressing itself in successive outer layers of the product or service. I think [Reserve](https://youtu.be/cEVwR17Rplo?feature=shared) also is following a virtuous path by focusing deeply on the design of money, its “soul”… (and all its implications) Briefly, this project allows anyone to build anti-inflationary currencies (RTokens, or Asset-Backed Currencies) that maintain their value over time, using any tokenized asset available on-chain. **It’s like if they’ve already imagined the endgame of cryptocurrencies**, creating a platform open to any future innovation in the space. While other notorious players are rapidly creating successful products, many of them lack transparency (such as poor Proof of Reserves) and/or are limited in the long term due to their dependence on the weakening US Dollar. In this case, great stablecoin design requires extreme attention to detail, similar to the design of Apple computers. Here’s a brief comparison of their general design goals: ### Computers ![](https://storage.googleapis.com/papyrus_images/04894ac09e2b0d33ead78c7b74ac8449.png) Computers need to be beautiful, and Steve [understood that](https://youtu.be/EJqP8P0dh2o?feature=shared). Something pleasant to look at and use, in every component (hardware and software). We all know how carefully designed a MacBook is. I’m using a 2020 “Air” version at the moment, and even the audio surprised me, as a true audiophile and sound lover. Very few laptops offer excellent internal audio performance these days. Anyway, this exchange of thoughts in [a 1985 Playboy Q&A](https://allaboutstevejobs.com/verbatim/interviews/playboy_1985) makes me smile: * David Sheff > Most computers use key strokes to enter instructions, but Macintosh replaces many of them with something called a mouse — a little box that is rolled around on your desk and guides a pointer on your computer screen. It’s a big change for people used to keyboards. **Why the mouse?** * Steve Jobs > If I want to tell you there is a spot on your shirt, I’m not going to do it linguistically: “There’s a spot on your shirt 14 centimeters down from the collar and three centimeters to the left of your button.” If you have a spot — “There!” \[He points\] — I’ll point to it. **Pointing is a metaphor we all know**. We’ve done a lot of studies and tests on that, and it’s much faster to do all kinds of functions, such as cutting and pasting, with a mouse, so it’s not only easier to use but more efficient. Pure obsession. The craftsmanship of RTokens is no different. I’m still impressed by [this section of the website](https://reserve.org/protocol/rtokens/), which explains their functioning with remarkable care. These kinds of assets have made me question what the true meaning of money really is. Studying the history of money a bit, I realized that the dollar and the euro (my currency as an Italian) are just social conventions imposed by governments, two well-marketed products with strong network effects, but **far from the level of detail that a large-scale currency should have**. Oh, we have a special guest in this post: welcome to a wild RToken… ![](https://storage.googleapis.com/papyrus_images/48a2098617f8caaad1a430259ac17596.png) > A lot of times, people don’t know what they want until you show it to them. That’s why we never rely on market research for developing computers. > > Steve Jobs So, computers need to be beautiful. Shouldn’t digital currencies be the same? ### Asset-Backed Currencies With this new kind of stablecoins, the beauty lies in both the visual aspect and user experience. Visual aspect: * Substantially, what is the famous US Dollar? **A successful brand, one of the greatest of all time** (thanks to James Glasscock for this insight) * Excited about the creation of branded Asset-Backed Currencies, with top-tier communication and governance (like [Web3 Dollar](https://app.reserve.org/ethereum/token/0x0d86883faf4ffd7aeb116390af37746f45b6f378/overview) and ETH Plus) User experience: * It should feel great to hold in your wallet, offering solid returns + anti-inflation assets like stocks, commodities, real estate, precious metals, bonds, etc. * Easy to transfer to anyone worldwide, with a negligible fee * Ideal for investing without middlemen, allowing everyone to partecipate — not just the most fortunate individuals on Earth (DeFi enters) * **Overcollateralization\*** is a wonderful feature of the Reserve Protocol, made possible by RSR stakers, who earn yield in exchange for taking on risk — depegs are no longer a scary monster. ([6:00, enjoy](https://x.com/questiondollar/status/1807841650645053863)) **\***Here’s a little curious story: when Silicon Valley Bank collapsed and eUSD depegged (due to USDC making up 50% of the basket), I had a small amount at risk myself. I had thought, “This can’t happen so quickly”, and then **boom** — the rare event struck while I was on vacation in Rome, without my trusted computer to check the situation closely :) ### Bitcoin’s evolution We know it will take time for the usability of an RToken to improve meaningfully — tokenization of real-world assets is key and requires patience ([checking progress here](https://www.rwa.xyz/)), but potentially will make these currencies at least 10x better than US Dollar and other Fiat linked stablecoins like USDT and USDC. I fully understand the value of this approach, being a huge fan of ETFs: diversifying your portfolio, especially across different geographical areas and asset types, is a time-tested trick to hedge against inflation. However, you can’t spend ETFs directly at the supermarket, so it’s always a trade-off — until this idea came along. It’s really simple, almost obvious, yet the potential is enormous. I genuinely believe Reserve’s platform is an underrated piece of digital art, perhaps the natural evolution of Bitcoin as a **unit of account** and a **medium of exchange**, as well as a great **store of value**. Of course, reality will put every theoretical idea to the test. Still, I feel in terms of pure design, we’re already on the right track. ### Intellectual Machines ![](https://storage.googleapis.com/papyrus_images/618d26d2f7854b091af03a5f1164b72d.png) The renowned mathematician John Nash (played by Russell Crowe in the film “A Beautiful Mind”) would be quite impressed by the depth of thought behind the Reserve Protocol. Back in 1954, he believed that **machines had the potential to replace tasks typically performed by humans, and to do so at a different pace**: > It seems clear that as soon as the machines become able to solve intellectual problems of the highest difficultly which can be solve by humans they will be able to solve most of the problems enormously faster than a human. > > In closing, the human brain is a highly parallel setup. It has to be. Today, the Federal Reserve lacks the tools to solve independently the problem of inflation, and almost certainly this will remain the case for years to come. Blockchains (like Ethereum and Solana) could serve as the [cities](https://medium.com/dragonfly-research/blockchains-are-cities-564327013f86) for real-world assets to flow through, providing transparency and security. Reserve Protocol, on the other hand, is the platform that will absorb these RWAs and “connect” them to new currencies. Today [anyone can create a currency](https://app.reserve.org/compare), just as anyone can set up their own online store on Shopify. In such an open and flexible system, competition can lead to increasingly stable money, countering the predominant government monopoly on issuance. Only the fittest currencies will survive. Over time, decentralized governance will adjust the backing of every currency, **according to the needs of a dynamic and ever-evolving global economy**. Ultimately, perhaps currency should be a faithful reflection of the best goods and services offered around the world — over a given period of time. ### The Quest for Better Money Steve Jobs emphasized how there were too many product designers working on cars and buildings, when computers were about to change the world in extraordinary ways — **but only if someone cared about their design**. Focusing intensely on the design of digital currencies will be incredibly valuable, and a possible step forward for humanity — but only if someone cares about it… With stablecoins today, I get the same 1983 Jobs vibes from computers. There’s a need for growing literacy about crypto industry, free from the prejudices that often plague the whole sector. Their possible future impact is no less extraordinary. Every day, people repeatedly talk about money for various reasons. It’s something essential to the well-being of individuals. **It should function like every good public service** — water supply and electricity for instance, [as Nash noted](https://web.math.princeton.edu/jfnj/texts_and_graphics/Main.Content/IDEAL_MONEY.../Older/PENN_STATE/babu.money.b.pdf). Would it be nice if the light worked intermittently while you’re spending the evening to read your favorite book? I think your house is not a dance floor. In the long run, money works like that, and even worse in some unlucky countries… It’s better to carefully design reliable digital money before the USD faces a **blackout**. --- *Originally published on [Dav](https://paragraph.com/@davialba/computers-and-currencies)*