Monetary policy in the sense of the Fed can easily be implemented in cryptocurrency; an Ethereum token can be trivially minted and burned according to its owner

Monetary policy in the sense of the Fed can easily be implemented in cryptocurrency; an Ethereum token can be trivially minted and burned according to its owner's wishes. Decentralized and semi-autonomous monetary policy is an emerging topic. The Maker/Dai project (http://makerdai.org/ http://makerdai.org/) is working on formulating smart contracts that give rise to a price-stable token backed in excess by diverse collateral cryptoassets.