Power historically shifts from governments to people. Democracy is the product of revolution and disruptive innovation by those who abhor the elitism of aristocracy and monarchy, who fear the single-mindedness of theocracy, and who see the impracticability of communism. More than ever before, governments represent fairer and more trustless social contracts.
As people self-determine the problems and corresponding solutions of their own neighborhoods in which they raise families and go to work, impact is easily measurable and instantly gratifying. It builds a sense of community when local issues are handled at such a speed and efficiency that they need not be trifled with at a national level.
It helps everyone to proliferate effective products and services from city to city, state to state, and department to department. Smart contract procurement can also automate and align the conditions of termination and restitution when something goes wrong. In the world of Web3, procurement will not be done through legal, political and bureaucratic teams that act both redundantly and inefficiently.
Multi-currency monetary systems have the following benefits: 1) keeping value created and shared within local communities; 2) alleviating administrative burdens from higher-level governments; 3) empowering the microcosms of a nation to deal with each other autonomously with “North Star” metric problem solving in real time; 4) making city and state economies insulated from the adverse effects that rain down from national and international economies.
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