Since the early days of money, early civilizations quickly realized there was a flaw with money.

The Sumerian realized early on that the only thing that matters in the end, is the ledger.

They created a ledger, instead of dealing with coins.

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When someone made a transaction, they simply updated the ledger, and kept track of how much money you had just as a number on a tablet.

And today our banking system has become primarily just digital numbers on a ledger.

Your bank doesn't really keep or transfer coins and bills around. It just updates a ledger.

But these systems still have a major flaw.

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The thousands of years old issue.

The issue we've had for thousands of years, is you have to trust the person transcribing this, and trust whoever keeps hold of that ledger.

In the same way that if fiat is controlled by a single entity, and issued and printed by one institution, you still have to put all your trust in them.

With money, whatever system we had, there was always a flaw: you had to put your trust in someone.

And can we really ever trust centralized systems?

The 2008 crisis was the final straw in trusting banks, governments, and financial institutions.

Their history of corruption had gone on for far too long, and was exposed once again in such a colossal way on a worldwide scale.

This is what led to Bitcoin and cryptocurrencies.

After thousands of years of the same unanswered colossal problem with money, it was finally answered with a solution:

Decentralization secured by cryptography, and with a worldwide network with no government and no single entity in control. You just need to trust the consensus mechanism, and the algorithm. So in the end it's all in the math.

So it's trust that can now be based on understanding something predictable based on math and putting two and two together, rather than trust based on trusting people, their emotions and character, and policies that can change on a whim of those in power.

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