Aalto observatory for digital valuation systems

Jenni Huttunen, Maria Joutsenvirta, Pekka Nikander

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

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Money is a recognised factor in creating sustainable, affluent societies. Yet, the neoclassical orthodoxy that prevails in our economic thinking remains as a contested area, its supporters claiming their results to be objectively true while many heterodox economists claim the whole system to stand on clay feet. Of late, the increased activity around complementary currencies suggest that the fiat money zeitgeist might be giving away to more variety in our monetary system. Rather than emphasizing what money does, as the mainstream economists do, other fields of science allow us to approach money as an integral part of the hierarchies and networks of exchange through which it circulates. This paper suggests that a broad understanding of money and more variety in monetary system have great potentials to further a more equalitarian and sustainable economy. They can drive the extension of society to more inclusive levels and transform people's economic roles and identities in the process. New technologies, including blockchain and smart ledger technology are able to support decentralized money creation through the use of shared and "open" peer-To-peer rewarding and IOU systems. Alongside of specialists and decision makers' capabilities, our project most pressingly calls for engaging citizens into the process early on. Multidisciplinary competencies are needed to take relevant action to investigate, envision and foster novel ways for value creation. For this, we are forming the Aalto Observatory on Digital Valuation Systems to gain deeper understandings of sustainable value creation structures enabled by new technology.

Original languageEnglish
Title of host publicationProceedings of the Digital Humanities in the Nordic Countries 3rd Conference, Helsinki, Finland, March 7-9, 2018
EditorsEetu Mäkelä, Mikko Tolonen, Jouni Tuominen
Number of pages11
Publication statusPublished - 2018
MoE publication typeA4 Conference publication
EventDigital Humanities in the Nordic Countries - University of Helsinki, Helsinki, Finland
Duration: 7 Mar 20189 Mar 2018
Conference number: 3

Publication series

NameCEUR Workshop Proceedings
ISSN (Electronic)1613-0073


ConferenceDigital Humanities in the Nordic Countries
Abbreviated titleDHN


  • Community currency
  • Decentralized technology
  • Economic agency
  • Economic democracy
  • Experiments
  • Monetary systems


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