Instant settlement profoundly transforms our behavior as it reconnects us with the elemental laws of nature. The existing paradigm mirrors the primal imperative of reaping benefits in exchange for labor–working to survive, but the pay-per-time system in the labor market is creating the incentive to get something for nothing. In the whole “fiat stack,” everyone optimizes their efforts to achieve this on different levels, as I explain below. How can I get money for nothing? As we explore the effects of instant settlement across diverse industries, a fundamental divide between workers and clockwatchers emerges, as I have argued throughout this series. Fiat payments work without…

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