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How Did This Cryptocurrency Come Out?

“Governments all over the world have begun to load Central Banks, why is this?”.

Of course, there are many explanations for this remarkable situation.

When we look at the founding philosophy and basic duties of Central Banks, we can easily answer the above question:

– Bank Duty Against Public Institutions and Government
– Bank of Banks and Regulatory Agency Duty
– Duty to Control Money Supply
– The Task of the Stability of the Exchange Rate
– Price Stability Task
– Financial Stability Mission

It is possible to increase the number of these missions. However, while we are faced with the fact that Central Banks perform some of the above tasks not alone but with the help of other institutions, we are also aware of the ability of other institutions or market instruments to perform similar tasks.

It seems that it is not possible to achieve price stability alone, not only with the help of Regulatory Authorities, but also with the instruments in hand.

In the 21st century, it is a well-known fact that Central Banks' lending to the government and the public has been eliminated by law. Let's remember that the right of the Treasury to use short-term advances from the Central Bank was abolished a long time ago. However, it has recently come to the fore again with the issue of "Reserve Money". However, the public no longer provides financing from Central Banks, but through taxes-domestic borrowing-plan and project loans. When it gets stuck, the IMF comes to the rescue of the states.

Since Central Banks cannot provide full control over price stability or money supply, then there is only one function left. “Reducing or raising the cost of funding”. Unfortunately, it does not seem possible to obtain a definite result here, through policy interest rates. Let's go straight to the conclusion;

“Since money is being printed for nothing?!…”

The reason why Political Powers criticize Central Banks more than before is simple. Now the mission of Central Banks comes to an end. The most serious proof of this is the emergence of cryptocurrencies.

The fact that the Monetary Authorities of the Public Banks can perform their duties very easily, that the private banks now find valuable only in terms of the "funding cost" of the central banks, that the money is produced by the banks and financial institutions with the interest multiplier, not the Central Banks, seems to have mobilized the sane people.
"In a world where money is produced for free, anyone can make money. It just needs to be reputable and reliable". It's that simple. This fact underlies the philosophy of producing Bitcoin and other cryptocurrencies. Whatever the Exchange Tool is, it is enough to be reputable and used everywhere. It also has an "investment" feature.
All these developments remind us of the fact that politics outlast the regulatory authorities. Banks, the most important product of the Capitalist System, existed before the Central Banks. Therefore, when Central Banks, which act as both arbitrator and authority, cannot fulfill a significant part of their duties, they can become the target of the political institution. .
Based on these narratives, cryptocurrencies will change the monetary systems of central banks. It should be underlined that banks and financial institutions should foresee this change and decide to take the necessary measures.