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I was suggesting using cryptocurrency (such as Ethereum or PolkaDOT) to implement the centrally-controlled functions of the Federal Reserve currently being hand
by ilaksh 6y ago
I was suggesting using cryptocurrency (such as Ethereum or PolkaDOT) to implement the centrally-controlled functions of the Federal Reserve currently being handled by simplistic queues or whatever it is.
But more fundamentally, currency and money IS a technology. It's use is to distribute power and express trust. But fundamentally it is a technology used for that purpose.
Cryptocurrency is ultimately about putting power in the hands of the people and trust in mathematics rather than central authorities.
Eventually the central banks and banking institutions as they exist now will be phased out and replaced with different paradigms that have some similar functions but more sophisticated technology.