During early days of Bitcoin there was popular to talk about “end the fed” in the community (which does mean “end central banks” globally). For early romantic period that was quite awesome, with time, however, I think, there is need to think deeply about the motto and corresponding questions, like, how this end would look like, and more importantly, what is the plan after that. Anyway, the spirit of early days is now mostly dead, unfortunately. But it provided ground for a lot of thought work behind creation and evolution of Ergo.
Even today Ergo can be seen as “after central banks” set of monetary and financial tooling, during to free nature of most of the tooling, p2p nature of many applications, contractual money to overcome crisis On Contractual Money
And I think it is worth to conceptualize Ergo movement around “after central banks” mindset.
- Why “after central banks” tooling is needed now ?
Current money systems are deeply unfair, and emitted money are simply not reaching many areas (mostly rural places), especially around economic downturns. For excluded areas and communities it would be beneficial to use the tooling right now.
Also, central banks are failing and sometimes disappearing all the time around the globe, including current moment (can be seen now in Lebanon, Yemen, sub-Saharan Africa etc).
- Does that mean working on destabilization of fiat ?
There is no need to spend efforts on destabilizing what is not stable, and it is better to focus on positive outcomes (ie building alternatives).
- How will central banks find this?
Ideally, they would welcome developments which are counter-cyclical to their work, they would be especially beneficial during times of crisis. We are not living in ideal world though.