THE BLOCKCHAIN: POWER REENGINEERED

Money serves as a defense, but the effectiveness of the defense is dependent on the type of money used. The blockchain-based cryptocurrency prevails over government cash in this comparison.

Fiat money increases the government’s unhealthy influence over the populace’s finances. Fiat currency still exists in the form of Central Bank Digital Currency (CBDC).

This year, Lebanon’s currency has lost 90% of its value. Venezuela and Zimbabwe’s currencies are worthless due to inflation. Many individuals are unaware of inflation because it happens in little increments.

China has rolled out their CBDC and it can be used overseas. CBDCs are in the all-seeing eyes of the government and in their full control. Whatever happened to the ethic of privacy?

Central Bank Digital Currency will make crypto more popular as money dictatorship will increase on a global scale like never before. That wouldn't be surprising as more people will want out of the system.

Cryptocurrencies which are built on blockchain technology have challenged many traditional systems. The government has full control over your money in the bank, whereas crypto keeps your money away from the reach of gov't. That's real power.

The government wants that authority back, but the people gave it to them, and instead of using it wisely, they choose to misuse it. People can now choose to hold onto their power thanks to cryptocurrency. With yours, what would you do?

Blockchain is on your side. Money that is centralized is not a defense. A defense is decentralized currency.

Think about the differences between having a large sum of money in your bank and having cryptocurrency for the same amount on the blockchain. Imagine avoiding the negative monetary policies of the government. Why should others be aware of your value? Isn’t that already enough risk?

History, they say rhymes. The 19th century was the first time when most of the world converged on a single store of value – gold – and this period saw the greatest explosion of trade in the history of the world.

Of this blissful period, Lord Keynes wrote:

What an extraordinary episode in the economic progress of man that age was … for any man of capacity or character at all exceeding the average, into the middle and upper classes, for whom life offered, at a low cost and with the least trouble, conveniences, comforts, and amenities beyond the compass of the richest and most powerful monarchs of other ages. The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, in such quantity as he might see fit, and reasonably expect their early delivery.

Today we have cryptos. With any crypto, you can get into trade with anybody on earth without any intermediary.

Trust has been re-engineered from the bottom up.

I find it ridiculous that governments couldn't build a system this efficient and all they do is ban it!

Some people say cryptos have no use cases. Well, for the mere fact you have a system that runs 24/7 worth trillions of dollars, isn't that enough for a use case?

Crypto is the financial technology of the future. It has to happen. Evolution or extinction. It’s all up to you.

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Uduakabasi Odung

Content Creator | Digital Marketer | SEO | Social Media Manager | DeFi | Community Manager