Part 6/12:
Shapiro references the initial dreams of Web3 pioneers: creating a decentralized economy that operates beyond central authority control. Bitcoin was conceived as a "hard money" alternative to government-issued fiat currency. Its market value is driven by demand rather than government decree.
The vision extended to enabling cross-border transactions bypassing regulation, taxes, and surveillance—a double-edged sword that appeals both to libertarians and illicit actors alike. Governments have expressed concern over the potential use of cryptocurrencies for money laundering or tax evasion.