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Scientific and Technological Progress, Decentralization and Currencies
There is clear historical correlation between technological and scientific progress, social complexity and decentralization.
For instance, ancient religious books contain all sorts of content: explanations about the origin of the universe, commandments about what people should or should not do, healing prayers, advice about how to live a happy life... All that was under the control of organized religions.
Nowadays, on the other hand, we prefer to get our answers about the origin of the universe from cosmologists, our laws from the legislative branches of our governments, medical treatments from doctors and advice about how to live a happy life from psychologists. But religion did not go away completely. Its role just shrank to the domains where it performs best. As exemplified above, decentralization results naturally from technological and scientific progress. It simply becomes too overwhelming for a single entity to be knowledgeable about everything and provide all kinds of answers and services to the rest of society. Specialization becomes necessary, and with it comes decentralization.
When it comes to governments, we have already witnessed local governments accepting a reduced role and allowing many responsibilities to be handled by a national government. National governments already split their power into independent legislative, judiciary and executive branches. Furthermore, through mutual agreements, they have created institutions such as the United Nations, which limit their own ambitions of sovereignty. Specifically in the context of currencies, the importance of a nation's central bank or monetary authority being independent from the nation's government is, at least in theory, well-understood, even if in practice we continue to see national currencies used as political and economic weapons. Many nations even join monetary unions, letting go of their own national currencies.
Like religions, national governments will not go away completely, but the reduction of their role is happening. This reduction precedes the cryptocurrency industry. Cryptocurrencies have the potential to be the technological progress that accelerates this natural process in the context of monetary policies. However, the frequently antagonistic relationship between the cryptocurrency industry and governments delays this acceleration. In theory, both should be aligned, since both understand the importance of independent monetary policies.
The Djed Alliance sees its mission of bringing stability to the cryptocurrency industry as completely aligned with and complementary to the purported missions of central banks of ensuring stability in the broader economy. Autonomous monetary policies are the ultimate form of independent monetary policies. And autonomy is crucial to ensuring stability against intervention.