But it hasn't been that way for very long. The industrial revolution was financed with various tokens and note created by industrial companies (e.g. cotton mills etc.), local banks and entrepreneurs.

Legal tender came in to the picture as there was a need for order in the chaos. There were lots of scams at the time.

Today, we have a digital revolution going on and similarly cryptocurrencies are arriving on the scene.

If the financial stability aspect of fiat currency cannot be upheld (mathematical certainty), there is much more to come.

Yes, but technically we can't. Cryptos don't scale yet. And the only way to get in to them is by exchanging fiat (mining is no longer realistic for individuals and both bitcoin and ethereum are highly centralized in mining as well as distribution).

This is why I am combining a centralized approach to the decentralized nature of cryptos. It can be distributed this way. Everyone gets 50 ECOS in oecosystema (initial supply is 0). OecoSystema: https://bitcointalk.org/index.php?topic=5079577.0

I agree, but central banks do not have individuals as customers, only banks. It is the commercial banks that enable this function of bitcoin/fiat exchange. This works as long as the system is stable. In a country like Venezuela with hyperinflation, people do not want fiat. There it is better to hold on to bitcoin etc. and use them for daily expenses directly.

In Venezuela, operating a crypto mining rig is illegal and you can be imprisoned for it. Still, according to Bloomberg most households in the capital run a mining operation because there is no trust in government, banks or the central bank.

I doubt governments will ever legalize Bitcoin as legal tender.

Estonia already has an Ethereum wallet built in to their new national ID cards. With that kind of solution, implementing a UBI is technically possible.

On the banking system, Nouriel Roubini recently said the following: "Central banks should issue their own digital currencies to replace a crisis-prone banking system and shut out cryptocurrencies". https://www.theguardian.com/business/2018/nov/19/why-central-bank-digital-currencies-will-destroy-bitcoin

I have founded OecoSystema (https://bitcointalk.org/index.php?topic=5079577.0). It is a combination of both worlds, centralized and decentralized, aimed at low-income people. Instead of waiting for a solution, I think we need to start creating solutions.

No ongoing project