Here’s a great article by Brian Armstrong, founder and CEO of Coinbase, entitled, “Controlling your own wealth as a basic human right” .
Brian traces the history of wealth control from before the 17th century, when most people were servile to their kings and rulers and had no property rights at all, to very recent times when governments have unilaterally devalued or eliminated fiat currencies to the incredible detriment of their citizens holding these currencies.
Examples cited include the recent removal of large rupee notes from circulation in India with little advanced notice, causing extreme hardship to millions of their population who held and controlled their personal wealth and well being in those notes. People in many countries have been similarly victimized recently in other parts of the world – Argentina, Cyprus, Syria and Venezuela (see the article for details).
He goes on to describe the pros and cons of people controlling their own wealth and makes a strong argument for Digital currency (Bitcoin being the dominant example) as a way for people all over the world to gain more control of their money.
Brian shows how this is actually working now in Uganda – empowering many of their people to receive money from relatives abroad, more cheaply, quickly and privately using the ubiquity of the internet and mobile technology to distribute their wealth in Bitcoin.
Thank you Brian for a very interesting article!