I attended an excellent seminar yesterday at the Asia Blockchain Summit with the Microsoft economist Glen Weyl (who has written a book with Audrey Tang). He pointed out the obvious: #decentralization is as much a matter of ideology as practicality in the blockchain community. The gold standard propounded by crypto enthusiasts is in fact the most centralized monetary system possible; economists have spent decades showing that money creation in the real world is already less centralized than that. Weyl proposed #stablecoins which could be used to track the multiple coexisting inflation rates corresponding to different consumption baskets. Maybe they are connected to "community currencies" already implicit in the financial system? We do know, but mostly ignore that #inflation hits different communities in different ways. An intriguing idea, but money supply is not the only factor which moves prices. I'm not as convinced as he is that this problem can be solved solely through "#data" but would be interested to see more research.
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