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- Erik Voorhees calls for more monetary policies to protect holders of any form of money.
- Money is a medium that we have invented in order to form a basis for building global infrastructure.
- Erik also included hashtags for Bitcoin and the United States Federal Reserve in his tweet to make sure that his comment reaches the right audience.
Digital asset trading firm ShapeShift CEO, Erik Voorhees calls for more monetary policies to protect holders of any forms of money. In a Twitter post, Voorhees restates the importance of having policies to regulate and control money and make sure it works the way it is intended to.
Voorhees compared the importance of monetary policies to that of language policies. He believes that money and language are “complex, necessary, organic creations of the society.” What Voorhees is trying to say is that, similar to languages, money is a medium that we have invented in order to form a basis for building global infrastructure.
As important as language is for day-to-day functioning in any environment, money is also important to provide value to everything we do as humans.
Erik Voorhees Tweeted
Erik Voorhees concludes his tweet by saying that money is far too important, and is constantly changing so much that it just shouldn’t have to exist under a monopoly.
Erik also included hashtags for Bitcoin and the United States Federal Reserve in his tweet to make sure that his comment reaches the right audience, and people understand the importance of the message he is trying to convey.
There should be about as much monetary policy as their is language policy. Both money and language are complex, necessary, organic creations of society. They are too important, too personal, and too dynamic to exist under monopoly. #Bitcoin #FederalReserve
— Erik Voorhees (@ErikVoorhees) February 11, 2020
Voorhees has a strong point he is trying to get through. It also reminds us of the reason by decentralized. The digital currency rose to popularity in the first place with Bitcoin. The whole cryptocurrency revolution has been about taking away monetary monopoly from the hands of banks and financial institutions and giving it back to the people.
It is reminiscent of the shift from monarchies to democracies as governance models evolved. Now that cryptocurrencies are growing strong and taking back control from trust-based financial systems, monetary policies need to grow too, to keep fiat currencies secure and regulated.
Voorhees tagging the United States Federal Reserve could be a callout to how the reserve is continuing federal spending, causing moonshots to the national debt situation in America.
Cryptocurrencies have a long way to go before reaching widespread global adoption, and until we get there, fiat money needs to be kept secure and regulated.
And once cryptocurrencies take over, there will arise the need for policies that monitor and regulate digital currencies to keep the users safe. In the end, money is a form of giving value to things based on inherent trust in its own value.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
