Let’s say a certain individual or corporation has generated a lot of value for society. Its quality of product, service, or information is consistent. There is increasing demand for its product. Customers are enamored with anything affiliated with the product.
Now suppose this high value individual or corporation leverages its value by issuing a digital coin of its own. In the beginning it accepts this coin only along with fiat cash. During this phase, the issuing corporation decides to accept digital coin from other high-value corporations, say Amazon accepting Google-issued coin and vice-versa.
Other producers from manufacturers to farmers to utilities rather than issue their own coin or mine other types of coin may decide to accept coin issued by high value corporations, again based on the premise that the products, services, or information produced by these corporations is consistent.
To further maintain the value of the coin, these corporations would act like mini-central banks, capping the amount of coin made available and driving up the coins price. They could also increase exclusivity of their product by prohibiting the exchange of their coin for fiat cash.
I suspect the wealth class would like a wide moat around their investments. The ability to move their transactions to cyberspace and become mini-sovereigns with favorable tax treatment will be topped off by creating their own “consumer resort.”
And the four week fall in cryptocurrency prices helps allowing them to either short cryptos or merely pick them up on the cheap.
We may be at the beginning of a different type of fork where the wealthy will enjoy cryptocurrency derived from a decentralized platform while the “information poor” are stuck with a digitized fiat currency. It is still to early to see if that scenario plays out since, at least in the United States, the federal government has made no decision to regulate cryptocurrency as anything else but a payment system and there are no plans right now to develop a “fedcoin.”