Bitcoin predecessor

In 1694 the Bank of England was established to fund a war against France. England’s Central Bank was privately owned and granted a monopoly to issue bank notes - paper that could be redeemed for an equal amount of gold from the government coffins. Being able to issue currency gave you the power, but it also gave the value to monetary supply - by backing it with the force of state. 

The sign on the bricks (photo) reminded me of Bitcoin sign. Only this is it’s predecessor. Some 300 years later, we now have privately owned digital coin. Except the fact that now ‘private’ means ‘decentralised’. And you can also redeem them to an equal amount of gold if you prefer. So this gives you the power, but it also gives the value to monetary supply - by backing it with the force of the network. 

I know for myself what I trust to be the future. And this is why I also like Steem.