Updated: Jun 13
One of the greatest problems currencies have faced throughout the course of history is that the authorities that oversaw them debased them over time by adding more money to the circulating supply and engaged in other fraudulent behavior by manipulating the ledgers the currencies use. This was done to empower the few at the top that controls the currency to the detriment of the masses. These centralized money changers use the power entrusted to them to erode the wealth of the masses and transfer it to themselves.
Over time, this fraud led to these people becoming unnaturally wealthy and powerful, and they abuse this power to the maximum extent possible. Over the years, this hopelessly corrupt system has led to wars where they fund both sides and profit from the chaos and suffering of mankind. There is plenty of evidence that they intentionally meddle in the politics of sovereign people and their systems of government to manipulate and use them up where possible. Their level of corruption boggles the mind and seems to know no end.
If we as a species are to overcome this cancerous maleficence, we need a new money system that cannot be tampered with by any centralized authority. We need a system that is not owned by any one group or person. What we need are decentralized systems that are collectively owned by the people who use them.