dR: What social good do Cryptocurrencies serve? They enable us to store and trade our personal data using decentralized applications. With no corruptible middlemen to lose or abuse our data, we are free to use it to fuel Artificial Intelligence for humanity’s benefit.
Money is a tool for recording value exchanged among economic participants. One way to record such value is in a digital ledger. Bitcoin is the first digital ledger to figure out how to prevent the State from destroying it. Bitcoin’s deflationary monetary policy provides an alternative to state-fiat money’s inflationary paradigm.
Cryptocurrencies help networks of computers and their human owners organize themselves in pursuit of large scale initiatives without having to rely on a central authority to coordinate the network’s actions. Cryptocurrencies are used to reward the behavior their network wishes to incentivize.