Himalaya Coin is a Golden Key to Break Monopoly

With the development of internet technology, human existence and way of life have been fundamentally changed. The birth of digital currency is the real beginning for civil society to challenge the power of the government. The power of the government comes from the control of force and wealth. To break into its monopoly on wealth, digital currency has undoubtedly made a major breakthrough by returning money to its original nature which was created as a medium of exchange that was recognized by both sides of the transaction. Shells for example were used as a form of currency in ancient time. It then developed into gold standard, earlier forms of currency replaced by precious metals, that was when prices were stable and inflation was rare. Later the gold standard was replaced by banknote and securities issued by the government. This created opportunity for arbitrary over-issuance of money by the government, resulting in a devaluation of the currency, which became the best means for the regime and the consortium to loot people’s wealth. If the monetary policy remains unchanged and the arbitrary over-issuance continues, the national currency will eventually be devalued to the point of being worthless and that is not what the currency originally designed for. The development of digital money has undoubtedly allowed people to find possible solutions to combat monopoly and unlimited devaluation.

Firstly, digital currency can break the monopoly of the state authority on currency, and it can make payments without borders or geographical restrictions. As long as the Internet exists, the government cannot control the peer-to-peer transaction behavior of digital currency.

Secondly, the number of a digital currency issued publicly can be traced and checked. The value of digital currency lies in its credibility. Any dishonesty or false information could undermine its credibility, and could render the digital currency worthless. Maintaining authenticity and following the rules are the only survival law for digital currency.

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Translator: OXV Translation Team – TrueSky
Design&editor: HBamboo(昆仑竹)

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