“Give me control of a nation’s money supply and I care not who makes its laws.” — Mayer Amschel Rothschild (Disputed)
“It’s technology that solves problems —not politics. Politicians can’t solve problems because they’re not trained to do so.” — Jacque Fresco
“The only way to deal with living in an unfree world is to become so absolutely free that your very existence is an act of rebellion.” — Albert Camus
One of the most technologically appealing aspects of cryptocurrency is that no individual nor group of individuals is in control of it. This instantly sets these protocols worlds apart from our national and global currencies, which are governed by policy that rests on the decisions of powerful financial interests.
This means we are forced to trust and participate in the preservation of these institutions in order to live our daily lives.
Unlike with these “legacy institutions”, when the code of a cryptocurrency protocol works and is secure, no politicians nor central banks need to be trusted. Their functions suddenly become slightly less relevant to how individuals and society functions, and much of the power they have taken from humanity is redistributed as a consequence.
There will be no more ramping up inflation on a whim by printing money out of thin air. No more blocking transactions because they don’t approve of your politics, and no more seizing or closing accounts because of some unpaid debt or because you’ve exhibited the wrong behaviour, etc.
The trustless, decentralised design of most cryptocurrency protocols actually goes a long way towards making our traditionally trusted legacy institutions obsolete, and may well provide the first practical, technical steps needed to eventually overcoming them altogether.
For the first time in known human history, full control over a person’s own finances is being offered to the everyday person — within the range of functioning tech in the Cryptosphere.
In 2020, the IRS started its war against this innovation with a $625,000 bounty for anyone who could successfully crack the airtight encryption of a cryptocurrency called Monero (XMR). While many traditional…