eeefff – myfutures.trade
Art group eeefff has developed a web application that allows transactions by trading future goals and dreams. This is a decentralized, speculative financial stock exchange that is based on a blockchain-technology called ethereum. It is created to play with futures – investing into the events that have not yet occurred.
During the Barents Spektakel, there will be a workshop for teenagers. They will be invited to take part in an underground group on the darknet. Being isolated in a disused bank, the teenagers will create a closed community where everyone plans their future in the present moment. They throw a spanner into the very heart of the financial markets by selling the futures on themselves.
Participants become a part of an anonymous society by trading their own goals. They can sell and exchange both short-term (for instance, 10 pull ups) and long-term goals (such as to enrol in a university) for the investments into their future right now. In exchange, they suggest a potential investor something that might interest them (for example, a secret about their friends). Investors receive the compensation only when the goal is achieved.
Using the financial instrument as the medium, artists involve the audience into experiencing a situation of a debt that is perceived as a given and is an instrument for construction of our culture in general. This project opens a discussion – what kind of society do we live in if our children are required to place their plans and capabilities into the financial system and invent schemes that circumvent the existing economy? How many goals have they sold? How quickly do their investments grow? Will they build a financial pyramid or will they fulfil all the contracts?
Web application is available at: eeefff.org/workshop