When I first heard of cryptocurrencies, I immediately reflected back on the time when I sat with Mondex, in my portfolio of technologies.
We believed that you needed a point of origination responsible for issuing an amount of value that the economy could sustain in this card based electronic format.
Typically, the architecture assumed somebody would take monies on deposit or cash and exchange it for this digital currency, with the sovereign authority responsible for issuing the Mondex, multicurancy currencies, or its agents, the Banks.
It was assumed, when the digital currency form Mondex reached a critical element of the economy; transfer the origination function to the appropriate national authority.
My first memory, of bitcoin., is 2012, maybe 13. Here was this very ingenious cryptographic method of recording every transaction as a ledger entry created the ability to create a currency that was represented by records on a ledger that could only be written to, was signed.
And, had an immutable characteristic that guarantee nothing in the past could be changed.
Ok
Consensus leads to expense.
But, consensus assures trust
In an environment of zero trust.
The world then 2008
and
now 2025.
When did we stop trusting the party in the USA responsible for the money supply.