Why was cryptocurrency created?

I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. This episode is specifically about why cryptocurrency was created. Satoshi Nakamoto wrote “The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” I am not even going to sugar coat this answer or make you listen to the whole episode to get this answer. I will give it to you straight. The main purpose of cryptocurrency was to create a new way of payment that could be used internationally and globally, it could be decentralized, without having any financial institution behind it, and have a set limited supply of it where no extra currency could be printed or created. So let’s break this down a bit further. We need to kind of understand how the current financial system works to get a more in depth answer and a little history of it all too. Thanks for listening to this episode of The Crypto 101 Show. If you would like to join our email list, email us at [email protected]. For more helpful tips su bscribe in your favorite podcast app, so that you don’t miss our next episode.