That holds true for government-backed digital currencies, commonly known as CBDCs (Central Bank Digital Currencies). However, the majority of cryptocurrencies are not CBDCs; they function on blockchain technology, which decentralizes the currency. Decentralization is a concept that describes the distribution of authority, control, or power away from a single central entity or authority. In the context of cryptocurrencies and blockchain technology, decentralization refers to the design of a system where no single entity, such as a central bank, government, or corporation, has absolute control over the network or the digital currency.

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I'm glad to hear that. Many individuals share the misconception that digital currencies are primarily centered around control, when in reality, it's quite the opposite, unless it's a Central Bank Digital Currency (CBDC). CBDCs are designed for centralized control. To illustrate, the recent Canadian Trucker convoy serves as a noteworthy example of governments exerting excessive control and misusing their authority.