The term “decentralized currency” refers to systems that don’t need banks to transmit money or ownership of any other asset. The money we have used in the past is centralized and managed by a single entity.
Due to the fact that the value of the currency is solely dependent on the centralized authority’s desire to fulfill its responsibility, third-party ownership has caused systemic problems. As we’ve seen through several financial crises, central banks, for instance, can easily modify the value to satisfy particular financing requirements. This is harmful to people who lose control over the worth of their own resources.