Question: Is Cryptocurrency Necessary? Using disparate fields of science, Cryptocurrency activists seek to prove that Bitcoin is a type of money with all of the properties of money. Let’s assume that this is a proven fact. Why do we need a new kind of money? Why do we need to create and use it? What platforms and opportunities does it provide for us that we do not already possess? In economics, money might be the closest concept to justice. A 1000 dollar bill has a definite value for everybody; there is no difference between a 1000 dollar owned by an ordinary citizen and a politician. Before all of its economic applications, money has a social concept and application to expand justice. When talking about money, the first thing that comes to mind is justice and then development. In the not-too-distant past, money had an intrinsic value. For instance, gold coins enabled their owner to preserve the value of their assets despite social, political events, and so on. However, they lost their position as an asset by the emergence of Fiat money. The capitals of individuals and countries have lost their real value and transformed into credit value. The real assets of an American are handled as stocks or credits cards in the stock market. People quickly lose their assets with every crisis occurred in the market or banks.
Countries have the same problems; concepts like underdevelopment, lack of development, and failure to develop are not an indication of poverty regarding the capital of a government/nation. They manifest the country’s poverty concerning credits. Despite enjoying enormous resources of natural wealth, a country like Iran is dealing with economic hardship due to the sanctions. That is because the global economic system does not approve its credit. Money is no longer impartial. The market cannot be trusted. We can not have transparent transactions. All routes of the global economy lead to a centralized region, the federal reserve, and a few private bankers with centralized control over the wealth in the world. All roads lead to Rome.
Bitcoin is not just a type of money; it is an agent for preserving and transferring money. It is a non-centralized system that an organization or a country cannot control. It is a platform for development and fair division of wealth. Money must serve as a tool for social welfare development. However, it should not be called money anymore when it turns into an economic tool against social welfare development, and it works as a tool for development of slavery and contradicts social welfare. Current Fiat money is not considered as money. Fiat money is a tool in the hands of influential people to create underdevelopment.
Cryptocurrencies provide a platform for justice, transparency, power decentralization, equality, and control over the value of assets. Cryptocurrencies return economic power to every individual in a society. They are not necessary! They are vital.
