This is true. Crypto is essentially fiat currency, as it's not a receipt for a tangible asset. However, given its structure, it is far and away a better exchange instrument than government fiat could ever be.
Decentralization was part of the original model for the reserve system too, but it ended up being invested in one central bank instead of a multiplicity of banks in a top tier.
This is true. Crypto is essentially fiat currency, as it's not a receipt for a tangible asset. However, given its structure, it is far and away a better exchange instrument than government fiat could ever be.
Decentralization was part of the original model for the reserve system too, but it ended up being invested in one central bank instead of a multiplicity of banks in a top tier.