The Problem With Money

Whenever you use money, you need somebody to vouch for it.

You need some way for others to know your money is real, authentic, and worth what you say it is. You can’t just give somebody a piece of paper and expect them to accept it. They need some authority to guarantee its value.

Ideally, this authority would be competent, honest, fair, trustworthy, and free.

Usually, this authority charges fees, makes mistakes, defrauds you, lies to you, steals from you, colludes against you, takes your sensitive personal information, dilutes the value of your money, or arbitrarily changes the terms of your transaction.

Humans have found many solutions to this problem. For example, governments, settlement companies, clearinghouses, laws, courts, favors, accountants, signatures, and oaths.

All those solutions come with risks, costs, complexity, and the chance of human error. All can be corrupted. None can be scaled. It’s hard and expensive to create any uniformity or standardization of output.

Enter Crypto

With cryptocurrency, you can establish authority without many of those risks and costs.

Tokens ensure everybody follows the same rules while the blockchain guarantees transactions will go through exactly as you intend.

As a result, you no longer need to rely on government decrees, local regulations, or the good faith of strangers. You can safely transact with millions of people who you have never met, with whom you have no relationship, who live in a country with different laws and regulations.

If you trust cryptocurrency, you don’t need to trust people.