How Henry Ford Envisaged Bitcoin 100 Years Ago — A Unique 'Energy Currency' That Could 'Stop Wars'.
11 Oct 2021, 08:00
How Henry Ford Envisaged Bitcoin 100 Years Ago — A Unique ‘Energy Currency’ That Could ‘Stop Wars’
55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh) in a similar fashion to the way energy is leveraged to mine bitcoin.
New York Tribune, December 4, 1921: ‘Ford Would Replace Gold With Energy Currency and Stop Wars’Close to 100 years ago on December 4, 1921, Henry Ford discussed an idea he conceived in the New York Tribune. The title of the published article was called “Ford Would Replace Gold With Energy Currency and Stop Wars.”
Ford is well known for developing the assembly line technique and creating one of the first mass-produced American-built automobiles. Ford’s energy currency concept describes a digital currency much like Satoshi Nakamoto’s Bitcoin and one that is also scarce.