Stewarding Digital Assets in View of Eternity
Money, in its various forms, holds great significance in human history, and a substantive influence on human hearts. As world economies increasingly embrace digital assets, and the global crypto market reaches a cap of over USD$3 Trillion (https://coinmarketcap.com/) we re-engage the familiar words of Jesus in Matthew 6:19-24 with digital perspectives.
Gold, Silver, and the Roman Denarius
Treasure, in Jesus’ time, include wealth such as gold or silver, the Greek Drachmas, or the Roman Denarius (Link). These coins represented monetary value, and its customized imprint carries connote the political and finance system of the Greco-Roman world. Possession of larges quantities of these financial tools represents the accompaniment of power, influence, and societal status.
Coins, became the standardized physical storage of monetary value across the Roman empire, an established form of payment in exchange of services and goods, and the accumulation of them often associated with earthly security. The Roman banking system, would develop specialized professions, to administer transactions, verification, and govern state monetary policies.
“For where your treasure is, there your heart will be also.”
Jesus addresses the everyday human act of amassing and storage of these temporal treasures, highlighting the fleeting nature of such treasures and called His followers instead, to focus energies to store up treasures in heaven. Today, as digital technology transforms the creation, exchange, and storage of wealth, we are called to steward these new forms of treasure, digital assets, with discernment and a focus on God’s eternal purposes. Here’s an overview of today’s digital assets, with continued commentary, in future articles.
Cryptocurrency
Cryptocurrencies, such as Bitcoin and Ethereum are decentralized digital currencies operating on blockchain networks. These currencies are not issued by any central authority, i.e. a central bank, relying instead on cryptographic principles and distributed ledger systems to ensure transparency, security, and immutability. The volatility of these type of digital assets are well-documented (Link), as well as its abuses (Link) during the “Crypto Winter’ of 2018.
Stablecoins
Stablecoins are a subset of cryptocurrencies designed to minimize price volatility by pegging their value to stable assets such as fiat currencies (e.g., USD), commodities, or a basket of assets. Examples include USDT (Tether) and USDC. They combine the stability of traditional assets with the efficiency of blockchain technology, often used in trading, remittances, and decentralized finance (DeFi).
Central Bank Digital Currencies (CBDC)
Central Bank Digital Currencies (CBDCs) are digital versions of national currencies, e.g. Digital Yuan, Digital Euro, issued by central banks. In contrast to decentralized cryptocurrencies, CBDCs are centralized, governed to provide a secure and efficient digital alternative to cash and traditional payment systems. These oversight allows nations to effect monetary policy, proliferate financial inclusion within its geographical boundaries, while reducing the risks of counterfeiting, and other illegitimate activities.
“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal.”
Digital Treasure Houses
Digital assets powered by blockchain and smart contracts, are reshaping global finance, promising solutions for trustless and efficient transactions, immutable record-keeping of transactions, and security of digital assets. The timeless instruction in Matthew 6:20 calls believers to prioritize righteous generosity over earthly accumulation, using resources to uplift the poor and destitute (Matthew 6:3) and to seek the advancement of God’s Kingdom (Matthew 6:33).
“You cannot serve both God and money.”
While engaging with digital assets, today’s believers must continually recognise that true wealth lies not in material gain but in a life marked by love, service, and faithfulness to God’s purposes.
