Cash decentralises power to the extent possible. E-currency centralises it to an absurd degree. That's the point. The slope of convenience though is gradual and

Cash decentralises power to the extent possible. E-currency centralises it to an absurd degree. That's the point. The slope of convenience though is gradual and slippery indeed. Institutions we've had for centuries crumbling in a matter of decades is a matter of concern. They worked more or less. There is no guarantee what is replacing them will work but we seem to have blind faith they will, since we're throwing the baby & the bathwater very gleefully out the window.