Gone are the days when money was the only domain of the banks. Thanks to decentralization. Now, anyone who understands the science involved has the freedom of being his own bank who has full control over his wealth. The transmission of information has become more than merely for communication purposes. It is now a way to transfer and quantify value and wealth. This is all because of the innovation of the decentralized currency. It is referred to as the peer-to-peer money, which is a bank free method of transferring wealth or ownership of any goods and services without the need to use a third-party platform. Decentralization of currency is not just reinventing the popular concept of money, but it is also revolutionizing the methodology of trading and exchange. As Virie is a decentralized currency, this article discusses its benefits and why the key word for defining freedom was and still is decentralization.
Freedom from monetary policies
As a decentralized currency doesn’t use any bank, it is free of any national monetary policies. Anybody who lives in a country that has destabilized fiat currency, turning into decentralized currency would allow them to have an alternative and a stabilizing agent.
Freedom from bank errors
More on not using any bank, decentralized currency gives you the freedom from any bank errors and failures. It also makes you free from vigorous bank fees and antagonistic bank policies.
Freedom from payment borders
Payments using the decentralized currency is border-less. This allows smooth international payments transactions at a low cost overcoming the limitations of the fiat currency payments.
Freedom from inflation or deflation
Even the most powerful fiat currency in the world, which is the US Dollar is affected by inflation and deflation. It's the same thing with all other existing fiat currencies. Decentralized currency is immune to such events.
Freedom from bureaucracy
The only requirement for decentralized currency is to have and use a wallet. That means freedom from the bureaucracy of having to obtain so many requirements to be able to use the goods and services like it is with the banks. This makes it highly attractive to those population that are under banked or unbanked, which covers at least two billion people in the world.
Freedom from tariffs
The goods and services that are bought using decentralized currency will not lose its value due to tariffs or any unfavorable changes in the monetary values. That is because the decentralized currency is not subject to any exchange rates that are based on geography.
Freedom from restrictions on further developments
As the decentralized currency is a clear representation of blockchain technology in the real world, there is nothing that can stop it from further innovations and development of all other decentralized applications.
The decentralized currency manifests itself as an evolving technology that can change the world. The blockchain technology carries the potential to change how we hold our conversation in our works and lives. From the way we spend money, to the way we communicate and exchange goods and services, decentralization remains the key word to freedom. All these and more are what Virie has to offer. The best thing about it is that it is the first and only payment system that uses the market instead of the other way around. Go see it for yourself here.