DSG & Digital Currencies
As information technology transforms almost every aspect of our modern lives, antiquated national currency systems stand out as barriers to further innovation.
Nation-states (including the USA) have increasingly used currency to exert their will domestically and internationally. An ever-smaller number of taxpayers are asked to fund an ever-larger bureaucracy at home. This shortfall causes nearly unrestricted printing of more currency. We believe it is reasonable to expect this trend to accelerate as reality further separates from political ideals.
A lack of consensus within the political system will demand more ways to achieve party goals without achieving votes. Now when you mix in lobbyists, regulators, and career politicians with dubious motivations the outcome seems more clear: a constantly devalued currency available for only politically acceptable uses. The definition of ‘acceptable’ can and will change with the tide of politics.
There are two issues related to the national currency that has driven DSG to support Digital Currencies:
1. Centralization – Currently, much of the banking in the U.S. is centralized (controlled) by a small number of institutions. The policies of these institutions control the flow of capital to the economy. Essential banking services like ACH, wire transfers, credit card processing, and cash deposits/withdrawals all fall under the control of a small number banks or regulatory entities.
2. Political Leverage – With the advent of centralized national banking and Federal oversight, political parties can leverage currency policy to support their partisan goals. In this scenario, the currency becomes a method for political control rather than a tool for free commerce as it was originally intended.
When combined with Federal oversight, it is easy to imagine how political goals can strongly influence a bank’s behavior. Quid Pro Quo – Do this for me, and I’ll do this for you…
Even smaller banks find themselves under increasing control by the Federal banking system. As regulated businesses, banks have a simple choice; cooperate with politically motivated rules or find themselves at odds with the party that determines whether they can continue to operate.
The Constitution and Bill of Rights clearly define what is legal in the USA. Still, without a method to conduct transactions, these Rights can be easily denied by any political party that has influence over the centralized banks.
DSG has been a target of these corrupt banking policies multiple times in our company’s history.
The use of digital currencies that are not controlled by political parties can offer our next generation a future with free access to their money that cannot be easily devalued.
At the same time blockchain technology allows merchants to accept and distribute payments without an intermediary bank. These transactions are sometimes referred to as peer-to-peer (P2P) transactions. A cryptocurrency stored on a hardware wallet becomes digital cash and no third parties can interfere with its use or storage.
Companies like DSG that develop and operate their own payment gateways can no longer be obstructed by a third-party based on political motivations.
Blockchain technology also offers the future promise of end-to-end smart contracts that someday can replace traditional business transactions by integrating purchasing, payment, and delivery tracking into a simple interface without checks, debit cards, and traditional banks. Development in this space is an ongoing project at DSG.
There is additional information on our site about paying for your orders at DSG Holsters with digital currency as well as more about getting started with cryptocurrency.
+++ DSG has no affiliation with linked sources or articles