what is crypto

Whenever we give someone or a group of people total authority over something, there will be
serious challenges that will need to be addressed. When it comes to doing so over the monetary
system, there are three specific challenges that need to be addressed and these are corruption,
mismanagement, and control.
There's a saying that absolute power corrupts absolutely. Central banks or monetary authorities
such as the Federal Reserve, who have the legal mandates to print money and create value in the
process, practically have the ability to control how value is created and destroyed in their
respective countries and in the case of the Federal Reserve, in the whole world. And such legal
mandates are akin to unlimited or absolute financial power. A very good example of this is the
fiasco at Wells Fargo where its employees were ordered to clandestinely open fictitious bank and
credit card accounts in an attempt to puff up the company's revenues and consequently, its net
profits, for several years. And compared to monetary authorities, Wells Fargo isn't even an
authority.
Mismanagement is simply when a manager or a steward acts in a way that is not consistent with
how his or her boss - the owner - wants him or her to act.