Governments Adjusting Inflation

This particular post of mine might fall into rocks and bear no fruits, but I can't help but to write down some thoughts on this matter. You see, for a while now I've been listening and reading about Yanis Varoufakis and his left leaning ideas. I thought if I'm to be honest, that some of his ideas were a bit too crazy, but over time I've began to find a balance.

In a book that I strongly recommend everyone to read, "Talking to my Daughter about the Economy", he briefly touches on Bitcoin, the reason why it was born, what it aims to solve, etc. As you might imagine, being Yanis very much a left leaning political figure, he is not convinced that Bitcoin can truly solve the challenges we face, but he does accept how good the idea actually is.

Now, here's the pickle so to speak: His big concern has nothing to do with scalability, adoption or even costs of implementation, but more so with the fixed inflation and future lack thereof. In his view, there's a necessity to adjust for unforeseeable events and patch, correct, or heal mistakes made by governments through a sensible monetary policy that is both fair and flexible.

This of course is a point of divide that may never be truly solved, because in all honesty is really easy for me to see it both ways. On the one hand I'm fully aware the flexibility of our monetary policies mixed with corruption have led to exacerbating problems and the creation of great disparity, but on the other hand, I do know that we are bound to make mistakes and not being able to correct course does sound dystopian as well.

We know, for example, that plenty of times people have lost funds and in some cases these funds add up to fortunes, but again, these are people making mistakes, not governments that provide a social cohesion or to be more accurate, should provide social cohesion.

In other words, What happens if a government through negligence loses access to significant crypto funds? Do they get left out? Regress into feudalism? You get my point. Of course, since the cryptocurrencies would be digital representations of gross domestic product, we could assume the fix would be some sort of swap through some sort of global consensus, but this very idea sounds so complex it almost escapes my mental grasp. It sounds impossible, at least to me, to think of how such a system could ever be decentralized.

At any rate, these thoughts are still quite green in my head and It might take much longer for me too offer any possible solutions to this, that is, if I ever do think up of one.