Ideology

The whole sphere of cryptocurrencies and blockchains is largely characterized by open source and libertarianism. The idea is that everyone's money is their own - that it is free to use and that no one should decide what you can spend your money on, or track where it goes.

Libertarian

For hundreds of years, our money has been governed by the state and the banks. The banks keep our money for us, and let us withdraw and use the money for a fee. We pay both to keep our money, and to send it to friends, family or pay bills. This has so far been necessary, as the possibility of creating our own currencies has never existed before.

We can complain that everything costs money, and that we are to some extent limited in what we can do. But in large parts of the world, the problems are even worse. In countries without democracy and in states whose currencies are so prone to inflation that people have to hurry to buy food before lunch, as prices have risen sharply in the afternoon. For these people, cryptocurrencies are a way to maintain the value of money, and also a way to get around government power and control.

Inflation is a problem in all countries, even though we may not be affected in everyday life in the same way. But the government is printing new money when they see a need for it. In many cases it is absolutely necessary, but we must remember that for every new dollar that is printed, the value of our dollars we already own decreases. Most cryptocurrencies cannot print new money, but a fixed number of coins is determined in advance. Of course, this has a positive effect on prices, when demand increases.

Technological

The sphere is also technology-heavy, as the technologies behind cryptocurrencies are based on cryptography, which can be anything but easy to understand. Fortunately, you do not always have to understand all the details to realize that a project is good or bad, but it helps you a lot to understand the technology behind it to be able to make your own decisions.

For the first time, it is possible to use technology to create systems that are unstoppable. For individuals, companies, but also for banks and states. It places developers and organizations in a whole new seat - where they can create opportunities and systems that are beyond censorship and where individuals are free to express themselves as they wish, and where they are given financial freedom.

In 2009, Bitcoin saw the light of day - since then, digital currencies have been possible. Data has always been able to be copied in one way or another. If a digital currency is only pure data, then you could assume that it would be just as easy to copy value on a blockchain. Thanks to the blockchain, this is not possible, and thanks to the fact that bitcoin is only available in a limited number, a value of data was created for the first time.