P.S. This article is translated from my original Thai article, which you can read here: My original Thai article
Have you ever felt like you're running on a treadmill that's constantly tilting upward?
No matter how much you run, you never seem to get anywhere, and eventually, you just end up exhausted... That's exactly how many people feel in the traditional economic system.
Inflation eats away at the value of your money every day. Governments impose regulations on capital, ban this and that, force you to spend your money in ways they see fit, and then tax you heavily, as if they see citizens as "cash cows" to milk endlessly.
The money you work so hard for loses value every single day. You have to work harder to earn the same amount, and the government constantly monitors and controls our spending, erecting tax barriers that exacerbate inequality.
This is the world we're familiar with... a world where power is centralized in the hands of the government and financial institutions. They set the rules that control our money and determine our destiny.
If you're one of the people who are fed up with this system... then you've come to the right place!
From a Sinking Ship to a New World of Freedom
Back in 1997, two forward-thinking writers, James Dale Davidson and Lord William Rees-Mogg, wrote a book called "The Sovereign Individual." They saw the future and dared to tell us that the world was about to transition into the information age, an era where technology would disrupt everything... even "nation-states"!
It's a world where power will be decentralized, governments will weaken, and anyone can become "free" both financially and in how they live their lives. They called these individuals "Sovereign Individuals."
Sounds like science fiction from the early days of the internet, right? But in 2024... the world Davidson and Rees-Mogg envisioned is no longer a fantasy!
Think about it... every day we live more and more of our lives online. We work, shop, invest, and communicate across borders without intermediaries, without relying on the government. The internet has become like a new "borderless world", opening up opportunities for us to access information, connect with people, and generate income from all corners of the globe without being restricted by government rules or regulations.
As the book states, "The internet" will give rise to new businesses, new forms of work, and online communities that connect people worldwide. This aligns with their vision of "individuals" gaining more power in the information age.
Today, we see that the internet has created numerous opportunities for those who dare to be different and refuse to succumb to the system. People are working remotely, able to work from anywhere in the world (like the Right Shift team). Digital nomads travel the globe while working. E-commerce businesses thrive without physical storefronts.
The internet frees us from geographical limitations and allows us to connect with the world in ways never before possible. Isn't this the beginning of the "Sovereign Individual era"?
And Bitcoin is the crucial "weapon" for the Sovereign Individual in this age. It unlocks the shackles of the old financial system. You can send money to anyone in the world without going through banks, without worrying about exorbitant fees, and all while remaining safe from government interference.
It's like we have a "submarine" that helps us escape from a sinking ship!
But wait! Can a book written in the early days of the internet truly provide answers for the decentralized and technologically advanced world of Bitcoin?
The answer is... yes!
This book is still packed with sharp insights and powerful ideas that remain applicable in today's world.
Want to know what those insights are and how they can help you achieve financial freedom in the world of Bitcoin? Read the review in this article and look forward to the Thai translation by Piriya and his team in the near future!
Before we move on... some of you might be wondering, "What exactly is a Sovereign Individual?" It sounds grand and impressive, but is it really something attainable?
Literally translated, "Sovereign" means "supreme ruler," while "Individual" refers to a "single person."
Combining these two words, "Sovereign Individual" can be literally translated as "supreme individual ruler," which I'll simply refer to as "The Great Individual." It sounds like they're kings or emperors, right?
But hold on... the meaning of "Sovereign Individual" within the context of this book doesn't refer to ruling over others. It means having the "power" to shape one's own life.
Think of kings in ancient times... they held supreme power in their lands, free to enact laws, collect taxes, and control resources as they pleased. But the "Sovereign Individual" of this era doesn't desire that kind of power. What they seek is freedom and the power to control their own lives without being subject to any government or system.
They are the "kings" of their own kingdoms!
Davidson and Rees-Mogg believe that "technology" is the key to empowering "individuals." It helps us transcend geographical limitations, access information, and connect with people worldwide directly, without intermediaries.
For instance, Bitcoin allows us to conduct financial transactions without banks. The internet allows us to work, learn, and generate income from anywhere in the world. As individuals gain more power, the power of governments diminishes. This is what Davidson and Rees-Mogg predicted in their book, and it's becoming a reality today.
Therefore, a "Sovereign Individual" is someone who can control their own finances without relying on banks or government-issued currencies. They can generate income globally without being restricted by borders or government regulations. They can shape their own lives, choosing where to live, work, and how to spend their time.
They are "free individuals" who refuse to be "slaves" to the system!
Hopefully, you're starting to understand the meaning of "Sovereign Individual."
Now, are you starting to feel the desire to become one yourself?
27 Years On, the Predictions Still Hold True (Especially Regarding Bitcoin!)
When I revisited this book in 2024, I was once again amazed by the foresight of Davidson and Rees-Mogg, who accurately predicted major changes far in advance. First published in 1997, this book predicted the transition from the industrial age to the information age, which would revolutionize social and economic structures.
Comparing the world in 1997, when the internet was just emerging, to the world in 2024, where the internet has permeated every corner of the globe, we can see that many predictions in this book are coming true.
The most striking example is the exponential growth of digital technologies. Smartphones, high-speed internet, and AI have become part of our daily lives, transforming the way we live, work, and communicate worldwide.
The small smartphone in your hand has more processing power than the computer NASA used to send humans to the moon! You can access information, connect with people worldwide, work, learn, shop, and conduct financial transactions anytime, anywhere. Many people may not recall where we were before this book was published...
In 1997, the internet in Thailand was in its infancy and not as widespread as it is today. Average internet speeds were quite slow, typically using dial-up modem connections over telephone lines, with a maximum speed of around 56 kbps (kilobits per second). Downloading large files or streaming videos was difficult and time-consuming (back then, just downloading a jpeg image was cause for celebration).
As I write this article... I'm using a 1,000 MB (1,000,000 kbps) internet connection. That's about 17,857 times faster than the average internet speed in 1997, or a whopping 1,785,614%!
Back then, popular internet usage in Thailand revolved around BBS (Bulletin Board System), online forums where users could exchange information, chat, and download files. Email was also gaining popularity as a means of electronic communication. Websites were starting to emerge, though their numbers were limited, mainly belonging to government agencies, universities, and large companies.
Communication in those days was still predominantly traditional, relying on landline phones, letters, fax machines, and pagers (anyone remember those? They were small devices for receiving short messages, popular among teenagers and businesspeople at the time).
So there you have it... Davidson and Rees-Mogg foresaw that these technologies would be crucial tools for liberating "individuals" from the grip of the state and the traditional economic system. No longer would they need to rely on or be controlled by governments or large corporations.
The book explained that in the information age, power would flow into the hands of those who could effectively control and leverage information, which are the "individuals." And "artificial intelligence" (AI) is one of the technologies that will play a critical role in enabling these non-conformists to control and utilize vast amounts of information with ever-increasing efficiency.
In their book, Davidson and Rees-Mogg recognized the potential of AI in work, decision-making, and innovation. They believed that AI would become a vital tool for pioneers to work smarter, make accurate decisions, and innovate rapidly.
Today, we see AI increasingly integrated into our daily lives, such as using ChatGPT and Gemini for writing, translating, and content creation, using AI trading for data analysis and stock trading decisions, or employing AI-powered tools in various tasks like design, video editing, and music composition.
AI is the "artificial brain" that will help us transcend human limitations and another essential "weapon" that self-reliant individuals in the information age must possess.
One of the most notable predictions in this book is the emergence of "digital currencies," and in 2024, Bitcoin stands as a clear testament to this prediction. Bitcoin is a decentralized currency, free from the control of governments and central banks, enabling us to conduct financial transactions without intermediaries, without worrying about expensive fees...
and most importantly... it's safe from government interference or confiscation (at least for now). Bitcoin utilizes encryption technology, ensuring highly secure transactions that are difficult for governments to hack or trace.
Davidson and Rees-Mogg saw encryption as a vital "shield" for those seeking to escape the shackles of the information age, where governments and organizations constantly attempt to spy on and control our data.
They used examples like data encryption to protect personal information and financial transactions from government surveillance, providing us with "private space" in the digital realm. In today's world, data protection is even more crucial as our information is scattered across the internet, vulnerable to theft or misuse.
We see the use of data shields in various forms, like VPNs to encrypt data while browsing the internet, privacy coins like Monero and Zcash that prioritize transaction anonymity, and end-to-end encryption in messaging apps like WhatsApp and Signal.
Encryption is the "secret weapon" that helps us maintain privacy and security in the digital world, and another essential tool for those who defy the system.
Imagine living in a country with a highly controlling government that restricts freedoms and confiscates citizens' assets. How secure would you feel keeping your money in a bank? The emergence of Bitcoin provides an alternative. It allows anyone to truly own and control their own "money." Davidson and Rees-Mogg called this "financial secession," a crucial step in becoming self-determining individuals.
Beyond Bitcoin, the efforts to develop and utilize platforms like DeFi (Decentralized Finance) further exemplify Davidson and Rees-Mogg's vision. DeFi is poised to disrupt the traditional financial system with its intermediary-free financial platforms. Today, DeFi enables us to borrow, lend, exchange currencies, and invest in digital assets conveniently, quickly, and securely, bypassing the complex procedures and high fees of traditional banks or financial institutions (although DeFi, while intriguing, still has much to prove in the eyes of Bitcoin enthusiasts).
Davidson and Rees-Mogg didn't just focus on technology; they envisioned the impact on "people" and how lifestyles would change in the information age. Knowledge, skills, and adaptability would become more valuable assets than physical possessions.
Today, we see a growing number of young people choosing to become freelancers. They work online, generate income globally, and don't want to be tied down to any company or location. They have the freedom to choose their work, their working hours, and their workplaces. The book refers to these individuals as the "Nomad Class," a group of people who can live and work anywhere in the world.
Moreover, we see a migration of wealthy individuals and investors relocating to countries with more favorable laws and lower tax burdens. They no longer want to be "cash cows" for governments to exploit. They want to be "free individuals" who can control their assets and determine their own destinies. Examples include the significant number of wealthy individuals and entrepreneurs relocating to Singapore, Hong Kong, or Dubai, which offer business-friendly tax systems and robust economies.
All of this reflects the world Davidson and Rees-Mogg imagined, a world where the power of nation-states is being challenged and "Great Individuals" are rising to prominence. The world in 2024 proves that "The Sovereign Individual" is not just a science fiction novel, but a "blueprint" for the future that we must prepare for.
Why Bitcoin Is the "Weapon" of Those Who Seek to Shape Their Own Futures
In a world where technology is rewriting all the rules and borders are fading in the digital realm, the question arises: Is the power of nation-states still as strong as before?
The book suggests that in the information age, power will decentralize, governments will weaken, and "individuals" will play a larger role. They will have greater freedom to control their lives and assets. Bitcoin is a prime example of this shift. It's the "weapon" of those seeking liberation, unlocking the chains of the old financial system and paving the way to true financial freedom.
Even though the book was written in 1997, before Bitcoin's inception, its ideas surprisingly resonate with the philosophy of Bitcoin. Both emphasize "breaking free from government control" and "achieving financial independence." Davidson and Rees-Mogg foresaw that technology would lead to "decentralization" and empower "individuals" to have greater control over their lives.
The book explained that in the past, governments and financial institutions held control over the world's economic and financial systems. People had to rely on and accept the rules they set.
But in the digital age, technologies like "Bitcoin" have brought about a significant change. It allows anyone to own and control their "money" without intermediaries. Imagine a world where you don't have to rely on banks, where you don't have to worry about the government seizing your assets or controlling your finances... that's the world Bitcoin is slowly building.
Bitcoin operates on blockchain technology, a public ledger that records all transactions. This blockchain is distributed across a network of computers worldwide, making it impossible for anyone to control or alter the information.
There are three main characteristics of Bitcoin that align with the book's ideas:
Firstly, Bitcoin is a decentralized system with no central authority. No one can control, command, or seize your Bitcoin, whether it's a government, bank, or even Satoshi Nakamoto, the creator of Bitcoin. The Bitcoin network is spread globally, making it difficult to block or control, mirroring the book's mention of the decline of nation-states and the rise of "microstates." Bitcoin could be part of this transformation by becoming the "currency" of microstates or independent communities.
Secondly, Bitcoin offers privacy. Although Bitcoin transactions are recorded on the blockchain, a public ledger accessible to everyone, your personal information remains undisclosed. You can conduct transactions anonymously, echoing the book's emphasis on "privacy" in the information age. Bitcoin empowers you to control your personal data and conduct financial transactions without revealing your identity.
Lastly, Bitcoin is secure. Bitcoin utilizes cryptography to ensure security, making it difficult to forge or hack data. Just as the book highlights the importance of "asset protection," Bitcoin's security and resistance to hacking make it a trustworthy "asset" for freedom seekers.
These three characteristics make Bitcoin more than just "money." It's a tool that empowers you to be a sovereign individual in the digital world. Let's look at real-world examples of Bitcoin usage that reflect the "Sovereign Individual" concept.
In Venezuela, which faced hyperinflation, people turned to Bitcoin as a store of value to protect their assets. This echoes the book's warnings about the dangers of inflation and government control over currency. Migrant workers use Bitcoin to send money back home without paying exorbitant fees to Western Union, cutting out intermediaries and reducing costs, aligning with the book's concept of "cost reduction."
(Read more about Venezuela's story here > Why are Venezuelans seeking refuge in crypto-currencies? )
Furthermore, NGOs (Non-Governmental Organizations) and activist groups use Bitcoin to raise funds globally without being blocked or censored by governments. Therefore, Bitcoin is not just a "currency" but a symbol of "freedom." It's a tool that empowers you to shape your own financial destiny and truly be your own boss.
Take, for example, WikiLeaks, the media organization founded by Julian Assange, which publishes leaked government documents. Traditional banks and financial institutions blocked WikiLeaks from receiving donations. Consequently, WikiLeaks turned to Bitcoin as a means to accept donations, allowing the organization to survive and continue its work despite government pressure.
Or consider #EndSARS, the protest movement in Nigeria against the Special Anti-Robbery Squad (SARS) for its abuse of power. The Nigerian government froze the bank accounts of protesters, prompting them to use Bitcoin as a means to receive donations to support the movement and assist affected protesters.
Human rights groups like the Human Rights Foundation use Bitcoin as a channel to receive donations from supporters worldwide for their work in countries where freedoms are restricted. Humanitarian aid organizations operating in conflict zones or countries with unstable financial systems find Bitcoin to be a convenient, fast, and secure way to send aid.
For instance, in Syria, Bitcoin was used to deliver financial assistance to war victims. Similarly, during the 2019-2020 Hong Kong pro-democracy protests, numerous protesters and activists turned to Bitcoin to raise funds and evade tracking by the Chinese government.
In an era where Bitcoin is thriving and blockchain technology is reshaping the world, the ideas of Davidson and Rees-Mogg are becoming increasingly relevant. It serves as a reminder that true power is returning to the hands of "individuals."
Freedom... Doesn't Come with a Bonus
Of course, the path to becoming a "Sovereign Individual" or "Great Individual" is not paved with roses. Davidson and Rees-Mogg didn't just tell us about the good times; they also pointed out the obstacles and challenges that lie ahead.
It's like embarking on an adventure in a new land filled with treasures but also fraught with dangers at every turn. You must be prepared to face uncertainty and unseen enemies. One of the most significant challenges is the increased "responsibility" that comes with stepping away from the familiar and sometimes stifling traditional systems. We must be ready to truly become our own "bosses."
Imagine this... you might currently be an employee at a company where, despite a nagging boss and numerous rules, there's a system, benefits, and a steady paycheck every month. But if you choose to become a "free individual," you have to throw away those "crutches"!
There's no boss, no benefits, no regular salary. Everything depends solely on "you."
You have to make decisions, plan, and take responsibility for every action, from small things like time management to big things like investment, tax planning, and protecting yourself from various dangers. In this fast-paced world, continuous learning and self-development are indispensable. Pioneers must be like "explorers" who never stop learning and are always ready to adapt to change.
Because "knowledge" is the most powerful weapon in this new world.
Apart from the increased responsibility, the digital world, while full of opportunities, is also filled with "risks."
While blockchain technology and Bitcoin are known for their security and resistance to hacking, if you lose your private keys or accidentally click on a fake link, you could wave goodbye to your Bitcoin forever. Unlike being cheated by a bank where you might have a chance to recover your funds or file complaints with authorities, in the decentralized world... no one, not even the government, can help you!
You bear full responsibility for all losses.
Therefore, becoming a "self-determining individual" is not just about declaring independence and enjoying a carefree life. It demands "discipline" in managing your life, "knowledge" for making decisions, and "caution" in protecting yourself. It's like a mountain climber who must train rigorously, prepare equipment, and plan meticulously before ascending to the summit, because a single misstep could be fatal!
But the good news is... once you overcome these challenges, the rewards waiting for you are equally immense.
Financial freedom, control over your own life, and becoming the "king" of your own kingdom are the dreams envisioned in the book.
And the world in 2024 has proven that these are not mere fantasies!
Just look at Jack Dorsey, the former CEO of Twitter, who dared to resign from his company to pursue blockchain and Bitcoin full-time. He chose to leave his comfortable "golden cage" with its hefty salary to chase his dreams and build the world he believes in. This is the true spirit of a "self-determining individual."
This example demonstrates that...
Individual sovereignty is not just about "money" or "power," but about "belief," "vision," and "taking action."
And in 2024... this book still offers invaluable lessons we can apply.
First and foremost, we must be "forward-thinking." The world is changing rapidly, and free individuals cannot cling to old frameworks. They must be willing to constantly learn and adapt to change. Furthermore, taking control of your own finances is crucial. Don't let governments or financial institutions control your life. Instead, learn to manage your money and invest wisely. Remember that relying on a single income stream is risky.
Therefore... it's essential to explore new opportunities and create multiple income sources from around the world. Technology is a tool that empowers you to be free, so learn and utilize it to its fullest potential. And finally, dare to be different, dare to challenge yourself, dare to step out of your comfort zone, and carve your own path.
This is not just a book; it's an idea that sparks hope and inspiration for "free individuals" worldwide. It's a "blueprint" for the future, and you can choose to be a part of it.
Are you ready to step into the world of the "Sovereign Individual"?
A Final Call to Action...
"The Sovereign Individual" is a book that serves as a compass, offering a fresh perspective to guide us in this rapidly changing world.
Even after 27 years, the lessons and vision conveyed by Davidson and Rees-Mogg are even more powerful and relevant. It reflects the reality that the world is not static, power and systems are subject to the laws of change, and only those who adapt, learn, and control their own destinies can overcome volatility and seize opportunities in the future.
They didn't just highlight the "problems"; they also offered "solutions" by presenting "ideas" and "strategies" for becoming "freed from the shackles."
Their language isn't overly academic or heavy; it's a blend of storytelling, situational analysis, and future forecasting with an engaging, insightful, and often humorous style.
They compared governments to "mafia gangs" that extort taxes from citizens, likened the education system to a "human factory" that brainwashes people into obedience, and portrayed technology as a powerful "weapon" for liberating individuals from government control.
They didn't speak of these things in a vacuum but drew upon historical events, from Roman times, the Middle Ages, to the present day, analyzing them sharply and connecting them to future trends.
Powerful quotes in the book reflect their vision of technology challenging state power. Governments will not be able to control, dominate, or even touch the digital economy as they once did.
For example:
"The good news is that politicians will no more be able to dominate, suppress, and regulate the greater part of commerce in this new realm than the legislators of the ancient Greek city-states could have trimmed the beard of Zeus."
Or the line:
"Soon, the cows will have wings."
This is another example of their sharp and humorous writing style. It signifies the end of an era where governments could easily collect taxes from citizens. In the digital world, wealth will move freely and borderlessly.
And the line that serves as a "declaration" of a new age where beliefs, knowledge, and systems we once held dear are being challenged and crumbling:
"The future is disorder. A door like this has cracked open five or six times since we got up on our hind legs. It is the best possible time to be alive, when almost everything you thought you knew is wrong."
This book is packed with content that is both "provocative," "thought-provoking," and "inspiring." If you want to understand the world in ways that "the powers that be" don't want you to see and desire to become a "free individual" who can truly shape their own destiny...
"The Sovereign Individual" is a book you can't miss!