The core principle driving the growth of cryptocurrency has remained unchanged from Bitcoin creator Satoshi Nakamoto to today’s builders: To paraphrase the mission statement of public blockchain lobbying group CoinCenter, human autonomy, privacy, and freedom will not survive the 21st century without some form of digital cash.
Cash here does not mean simply paper money, but any monetary bearer instrument that can be transferred without an intermediary such as a bank or processor, which introduce the risk of interference or monitoring. PayPal, credit card payments, and bank transfers are not cash, but Bitcoin and other digital tokens can be. The decentralized and pseudonymous nature of blockchain-based digital currency makes crypto transactions impossible to block or shut down, and provides some limited privacy protections.
These protections serve a variety of positive social purposes, whether you’re trying to circumvent an authoritarian regime or just pay for entirely legal stuff like sex toys without getting your account…