Even if the mix of digital currencies with theology might sound amusing, it raises pertinent ethical questions of value and fundamentally the role of technology in modern society. We shall discuss the biblical view of digital currencies and what biblical insight says on the matter.
Like Bitcoin or Ethereum, there are a number of definitions available that give the viewer an idea about the religious aspect of their existence. Indeed, the Bible is considered a standard for the moral and ethical aspects of life and would offer us some perspectives on how digital currencies are defined in the use and investments by believers.
One of the core elements found in the Bible is stewardship. Believers should act as prudent managers of what God has provided for them, being stewards of creation. It should then apply to digital currencies, urging responsible investment and cautions against such speculative bubbles, bringing eventual financial destruction upon people.
Trust is a key factor as well. The Bible tells us that we should trust God and trust others. Trust to each other has always been replaced by the decentralized trust through blockchain technologies that define how these digital currencies run. Such a model of trust raises questions on whether this really agrees with the biblical perception of trust and faith in God’s provision.
The Bible emphasizes the recognition of greed and love of money. Digital currencies have the potential for freeing one’s finances and creating avenues for wealth; however, they can also lead to ruin through craving and idolatry. Hence, for a believer, spiritual wealth must be prioritised over material things, and resources are subject to God’s purpose.
The justice and fairness aspects also address the Bible vis-a-vis the adoption of digital currencies. It also talks of justice and fairness relevant within the adoption of digital currencies.