Op-Ed: Separating Wealth Creation from the State – Does DNotes Have the Answer?

Executive Brief

Did you know that digital currency is already providing a degree of monetary sovereignty for countries whose governments have abandoned their nation currencies – like Greece and other countries in Europe where citizens are forced to use the Euro? There is no denying that Bitcoin can fulfill this function up to a certain point. However, it’s important to consider whether the consensus of direction required for large-scale mass adoption is possible without a more centralized leadership model. After all, where money is concerned, individuals without a common set of interests will always look out for their own interests first and foremost. Strong and united leadership can not only aid in protecting the value of any cryptocurrency; it can also help to unite large groups of individuals and provide them with the common interests and long-term goals needed to help stabilize that currency’s value.

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Did you know that digital currency is already providing a degree of monetary sovereignty for countries whose governments have abandoned their nation currencies – like Greece and other countries in Europe where citizens are forced to use the Euro? There is no denying that Bitcoin can fulfill this function up to a certain point. However, it’s important to consider whether the consensus of direction required for large-scale mass adoption is possible without a more centralized leadership model. After all, where money is concerned, individuals without a common set of interests will always look out for their own interests first and foremost. Strong and united leadership can not only aid in protecting the value of any cryptocurrency; it can also help to unite large groups of individuals and provide them with the common interests and long-term goals needed to help stabilize that currency’s value.

The same consensus of direction rings true for those endowed with the responsibility of managing our money supply - one of the most important jobs in the world. If those people have a personal agenda that comes before the common good, there is a much greater chance of corruption. Since the maintenance of sound monetary policy is so important and affects so many lives, wouldn't it make more sense to entrust this responsibility to a corruption-proof algorithm overseen by a team working for the benefit of all stakeholders?

A currency that can fulfill this function is not intrinsically valuable, just like a country is not valuable unless people are working and contributing to the GDP. It should be noted that many digital currencies are based on hype and a multitude of false promises, which invariably creates speculative value. However speculative value is not the same as utility value. To have utility value, a currency system must be able to perform the full functions of the current financial system and have the scaling capacity needed to accommodate massive growth. The digital currency that can deliver on this promise will change the world.

Civilians in countries suffering from bureaucratic overreach, currency embargo, or unfair monetary policy now have multiple cryptocurrencies from which to choose. This allows people to accumulate wealth and expand their businesses to new markets that would otherwise be inaccessible. The people in those nations need a stable cryptocurrency with a team that has the knowledge and capacity to execute that sort of massive, far-reaching plan. No currency team with a 'get rich quick' mentality can fill this role, because they have portrayed themselves as being capable of corruption.

Digital currency DNotes has been positioning themselves carefully for 3 years so that it can fulfill the functions required to become a global reserve currency that supplements fiat. Although others may claim the ability to fill this demanding role, I strongly believe that DNotes is taking an approach far superior to the competition. Instead of wasting investor money on the process of trial and error, the team decided to take a 'wait and see' approach, a fiscally prudent move. Now that the industry is beginning to mature and more bugs have been worked out, DNotes has a clear vision of what is required to become a global reserve currency.

Although relatively quiet on the PR front, DNotes has built some impressive infrastructure, including this news outlet, as well as secure digital currency storage at DNotesVault. The importance of this infrastructure will become more apparent as it is scaled up. The team is aiming to be the most trusted and lowest-cost means of conducting finance in the world. It will fulfill all the functions of traditional finance and more, while ensuring that the process of money creation remains decentralized – something that will be vital for protecting monetary sovereignty. But none of this can be accomplished without the decisive and united leadership backing DNotes digital currency.

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Brandon Cheliak

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