Thanks for an excellent exposition. I am agnostic about “cryptocurrencies,” but could one of itself provide the means to end unemployment? No. End poverty? No. End taxation? No. End public debt? No. Help with sustainability? No.

I have developed a proposal for making the existing legal tender of any nation a kind of virtual currency. It would be paid directly to eligible individuals, it would be created as needed, and the total of it would form the supply of money for the economy. It would change every foregoing “No.” into a “Yes.” As a monetary system it could be adopted by any nation or any group of nations, to include all nations (without threatening any nation’s sovereignty).

That does represent a further centralization of administration, but the issuer of the currency would have no discretionary authority, so it would represent a lessening of the amount of centralized power in the world. No means for engaging in fiscal or monetary ‘policies’ for ‘managing’ the economy would exist; the supply of money and the economy as a whole would be totally self-regulating.

To prevent inflation money would have to be returned to its point of origin, but the amount to be returned would be determined by the functioning of the economy, not anyone in authority anywhere. Moreover, no money would be collected from any business or individual before it could be used for purchases or investment.

If curious, a brief summary is available here in Medium in “By Request: How to transform the Society of any Nation (summarized for a ‘5 min read’).”