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»(W)orld Currency«
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© Paolo Cirio

Keywords

  • aesthetics
    • acoustic
    • affective
    • anamorphic
    • animated
    • anthropomorph
    • assembled
    • automated
    • autopoietic
    • collaborative
    • contextual
    • cybernetic
    • disgusting
    • documenting
    • duplicated
    • dynamic system
    • ephemeral
    • experimental
    • found object
    • generative
    • gustatory
    • hypermediacy
    • illusionary
    • immaterial
    • immersive
    • installation-based
    • interactive
    • intermedial
    • intervention
    • mobile
    • modular
    • multi-user
    • multiple
    • narrative
    • navigable
    • networked
    • olfactory
    • panoramatic
    • performative
    • polysensory
    • processual
    • projected
    • real-time
    • remediated
    • remixed
    • sculptural
    • site-specific
    • sonification
    • sublime
    • tactile
    • telematic
    • three-dimensional
    • time-based
    • uncanny
    • virtual
    • visual
  • genre
    • Bio Art
      • Genetic Art
      • Transgenic Art
    • Database Art
    • Digital Activism
    • Digital Animation
    • Digital Community (Social Network)
    • Digital Graphics
    • Game Art
    • Glitch Art
    • Hybrid Art
    • installation
      • interactive installation
      • performative installation
      • sound installation
      • Virtual Reality
        • Augmented Reality
        • Mixed Reality
    • Nano Art
    • Net Art
    • Performance
      • Computer performance
      • Happening
      • multimedia performance
      • sound performance
      • video performance
    • robotics
    • Telematic Art
  • subject
    • ART AND SCIENCE
      • algorithm
      • anthropology
      • archaeology
      • artificial intelligence
      • astronomy
      • biology
      • botany
      • cartography
      • code
      • combinatorics
      • cyberspace
      • database
      • documentation
      • evidence
      • experiment
      • geography
      • geometry
      • history of science
      • humanities
      • library
      • light
      • machine
      • mathematic
      • medicine
      • microscopy
      • nanotechnology
      • neuroscience
      • philosophy
      • physics
      • psychology
      • Representation of knowledge
      • research
      • science
      • scientific image
      • space
      • statistics
      • stereoscope
    • ARTS AND VISUAL CULTURE
      • allegory
      • animation
      • architecture
      • art history
      • art market
      • beauty
      • cinema
      • Concept Art
      • conservation
      • dance
      • expanded cinema
      • fashion
      • gaze
      • grid
      • illusion
      • literature
      • mask
      • materiality
      • mirror
      • model
      • museum
      • music
      • nude
      • panopticon
      • panorama
      • personification
      • perspective
      • poetry
      • projection
      • representativeness
      • shadow
      • sketch
      • spectator
      • symbolism
      • theatre
      • Theory
        • complexity
        • media theory
        • modernism
        • postmodernism
        • poststructuralism
        • semiotics
        • simulacrum
      • virtuality
      • visual culture
    • BODY AND HUMAN
      • agency
      • anatomy
      • body
      • breathing
      • cybersex
      • cyborg
      • death
      • disease
      • dream
      • embodiment
      • empathy
      • expression
      • eye
      • facial expression
      • fantasy
      • feeling
        • affect
        • emotion
      • gender
      • genetics
      • gesture
      • hand
      • human
      • identity
      • intimacy
      • movement
      • pain
      • perception
      • performativity
      • physiognomy
      • posthuman
      • self awareness
      • senses
      • sexuality
      • skin
      • speech
      • surgery
    • HISTORY AND MEMORY
      • ancestor
      • antiquity
      • archive
      • artifacts
      • collective memory
      • colonialism
      • cultural heritage
      • historical site
      • historism
      • history
      • meme
      • memorial
      • modern era
      • nostalgia
      • postcolonialism
      • preservation
      • romanticism
      • teleology
      • tradition
    • MEDIA AND COMMUNICATION
      • access
      • advertising
      • Big Data
      • broadcast
      • commerce
      • communication
      • electronic media
      • error message
      • film
      • global village
      • hypertext
      • information
      • intermediality
      • internet
      • language
      • media archaeology
      • open source
      • print media
      • radio
      • search engine
      • social media
      • telecommunication
      • telephone
      • television
      • video surveillance
      • visualisation
      • writing
    • NATURE AND ENVIRONMENT
      • agriculture
      • animal
      • anthropocentrism
      • atmosphere
      • catastrophe
      • DNA
      • earth
      • ecosystem
      • energy
      • environment
      • evolution
      • four elements
      • geology
      • global warming
      • globe
      • landscape
      • magnetism
      • nature
      • ocean
      • outer space
      • physical law
      • plant
      • pollution
      • sustainability
      • vegetation
      • water
      • weather
    • POWER AND POLITICS
      • authority
      • banking
      • censorship
      • conspiracy
      • democracy
      • discrimination
      • economy
      • equality
      • geopolitics
      • governance
      • heroism
      • human rights
      • imperialism
      • institution
      • law
      • manipulation
      • market
      • military
      • nationalism
      • patriarchy
      • politics
      • sovereignty
      • surveillance
      • terrorism
      • violence
      • warfare
    • RELIGION AND MYTHOLOGY
      • afterlife
      • Alchemy
      • bible
      • church
      • creation
      • crucifixion
      • esoterism
      • exodus
      • heretic
      • legend
      • mysticism
      • myth
      • mythological creature
      • mythology
      • paradise
      • religion
        • buddhism
        • christianity
        • islam
        • judaism
      • ritual
      • sacrifice
      • Saint
      • sin
      • spirituality
      • vision
      • worship
    • SOCIETY AND CULTURE
      • activism
      • capitalism
      • civilisation
      • community
      • consumption
      • counterculture
      • digital identity
      • diversity
      • ethnicity
      • feminism
      • globalization
      • individuality
      • information society
      • interculturalism
      • mass
      • mass culture
        • entertainment
        • parody
        • phantasmagoria
        • popular culture
        • spectacle
      • migration
      • minority
      • morality
      • native
      • otherness
      • participation
      • poverty
      • privacy
      • racism
      • territory
      • unemployment
      • urban space
      • voyeurism
      • wealth
      • working class
    • TECHNOLOGY AND INNOVATION
      • artificial life
      • cybernetics
      • development
      • digitization
      • electricity
      • emulation
      • engineering
      • history of technology
      • innovation
      • intelligent environment
      • invention
      • mechanics
      • military technology
      • mobility
      • nonhuman communication
      • optics
      • product design
      • production
      • robot
      • simulation
      • supercomputing
      • technophobia
      • telematics
      • telepresence
  • Technology
    • Display
      • Electronic displays
        • BOOM (Binocular Omni-Orientation Monitor)
        • CAVE (Computered Augmented Virtual Environment)
        • computer monitor
        • Electromechanical Display Device
        • Electronic Paper
        • flashlight
        • Head-up Display
        • Headphones
        • HMD (Head-mounted Display)
        • holography
        • laser
        • light-emitting diode
        • plasma
        • printer
        • projection screen
        • projector
        • robotic
        • speakers
        • VFD (Vacuum Florescent Display)
        • VRD (Virtual Retinal Display)
      • Non-electronic displays
        • body
        • Book
        • easel painting
        • globe
        • house wall
        • inflatable structure
        • mirror
        • paper
        • sculpture
        • shutter glasses
        • sofa
        • Somatosensory System / Tactile Feedback Technology
        • table
    • Hardware
      • camera
      • computer mouse
      • data glove
      • Joystick
      • MAC
      • Mobile Device
      • multi touchscreen
      • plotter
      • scanner
      • touchscreen
      • Video
      • Virtual Workbench
      • Virtuscope
      • webcam
    • interface
      • Automatic Identification and Data Capture (AIDC)
      • biometrics
      • Body sensor
        • Body Tracking
        • brainwave sensor
        • breathing sensor
        • Breathing-Balance-Interface-Vest
        • Endoscope
        • eye scanner
        • facial recognition system
        • Motion Capture
        • positiontracker
        • retina scanner
        • Speech Recognition
        • step sensor
      • camera recording
      • electromagnetism
      • interactive media
        • Auditory User Interface (AUI)
        • Augmented Reality Interfaces
        • breath based communication
        • Internet of Things (IoT)
        • Ludic Interface
        • MR-based (Mixed Reality) Interaction
        • Multi-Modal Interaction
        • tactile user interfaces
        • Tangible Acoustic Interface
        • Tangible User Interface (TUI)
        • Voice User interface
      • Non-electronic interface
        • bike
        • doll
        • furniture
        • plant
      • Soundgenerating device
        • Audiotape
        • keyboard
        • microphone
        • musical instrument
        • RFID (Radio-frequency Identification)
        • Speech Recognition
        • syntheziser
        • telephone
        • Theremin
        • turntable
        • voice analysis
        • Voice User Interface (VUI)
      • virtual balance
    • Software
      • C++
      • CGI/Perl
      • CSS
      • Global Positioning System (GPS)
      • ISDN
      • Java
      • Linux
      • Optical Character Recognition (OCR)
      • periscope
      • PHP
      • RFID (Radio-frequency Identification)
      • robotic interfaces
      • SGI Onyx2
      • softimage
      • software interface
      • Video
      • VRML
      • Wireless Sensor Network (WSN)
      • XML
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Information
Cite
X
Archive of Digital Art (ADA). “Paolo Cirio - »(W)orld Currency«”. https://www.digitalartarchive.at/database/general/work/world-currency.html (retrieved 2016-27-01). @online{ADAartistprofile, author = {Archive of Digital Art (ADA)}, title = {Paolo Cirio - »(W)orld Currency«}, url = {https://www.digitalartarchive.at/database/general/work/world-currency.html}, urldate = {retrieved 2016-27-01}
Technology
Display
Digital prints
Descriptions & Essays
"This artwork illustrates a global currency through the creative formulation of an equation and a trading algorithm for the currency exchange market. The visionary creation of algorithmic trading combines art with the material that governs contemporary society. In doing so, it aims to introduce new art practices. The artwork seeks to inspire social transformation through envisioning positive and innovative economic tool. It addresses the inherent instability of various currencies, as well as the need for a new independent global reserve currency that could potentially empower and unite the world population. As a sustainable financial instrument, the World Currency Equation will act as a cushion that will protect people against the increased volatility of individual currencies due to speculative manipulations and economic swings, while preserving market access across different geo-political and social domains. The proposed algebraic equation provides valuation and liquidity for a new currency (W) based upon the average of an index of individual currencies. The formula combines and secures dominant national currencies with new digital and local complementary currencies, preserving autonomy and diversification within universal acceptance. The artwork is illustrated through the artistic expression of a mathematical equation and a diagram of an algorithm. These two elements indicate how the value of the currency is calculated and how its liquidity is created and maintained. How it works World Currency is a global reserve currency backed by popular currencies. It's based on a value-weighted index, in which each currency in a basket influences the index in proportion to its exchange rate and spread for every combination of pairs of currencies traded. The overall average of the rate exchanges determines (W). In the system, the value of (W) is kept steady by the daily trading of each currency in the basket in an interconnected network of deposits. For every node of the network each currency is stored only for the average amount of the whole network. The gains and losses are also leveled equally in every deposit. The equal distribution of multiple reserve currencies always maintains the (W) with liquidity and stable value. The equation and the algorithm make use of Forex market conventions and can only include currencies that are tradable electronically. The equation The following equation illustrates how (W) is calculated upon an aggregate of exchange rate values of a basket of leading currencies within the gains and losses that the fluctuations among them generate over time. The mathematical average of the values of currencies (A) in the basket keeps the value of (W) steady. The gains compensate the losses in the total average (G). The algorithm The following diagram illustrates how an algorithm can automatically aggregate (W) by wiring currencies over the multiple reserve deposits based on the recursive calculation of the (W) equation." - Paolo Cirio
Literature
Cheang, Shu Lea. »We grow Money.« MCD Magazine (December 2014).