Cryptocurrency replicates cash. A cash-based economy still needs government and the laws it enforces. The government's powers are just more limited due to cash, and its electronic corollary, not being easily surveilled, or controlled through intermediaries that can act as bottlenecks.
Cryptocurrency holds the potential to restore the traditional balance of power between private citizen and state that existed when most financial transactions used physical bearer instruments like gold or cash bills.
Ever since large financial intermediaries took over as the dominant force in the payment system, power has become extremely concentrated in the hands of a few corporations and governments.
Cryptocurrency holds the potential to restore the traditional balance of power between private citizen and state that existed when most financial transactions used physical bearer instruments like gold or cash bills.
Ever since large financial intermediaries took over as the dominant force in the payment system, power has become extremely concentrated in the hands of a few corporations and governments.