--- title: "These Anarchists Want to Destroy the Dollar with Crypto" description: "The crypto-anarchist movement is alive and well in Prague, where an outfit dubbed Paralelní Polis is seeking to destroy the dollar." date: "2023-08-08" modified: "2023-08-08" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/anarchists-destroy-dollar-crypto" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "decentralization" - "the digest" - "web3" --- # These Anarchists Want to Destroy the Dollar with Crypto ![anarchists crypto dollar]() *\Image: Getty / Futurism\* ## Why Not Just a coupla dudes, trying to destroy the dollar. As [*CNBC* reports](), the crypto-anarchist movement is alive and well in Prague, where an outfit dubbed Paralelní Polis — which translates to the extremely-crypto-bro-coded "Parallel World" — [promises]() to do away with digital censorship, reclaim and protect personal data from the "State and corporations," and, one day, do away with the American dollar (in favor of crypto). The group even has a designated and aptly named Institute of Cryptoanarchy, where they recruit new anarchists to the cause through the gospel of The Crypto Anarchist Manifesto. We all have our hobbies! "New technology brings the possibility of choice — we are in a time that is defined by The Crypto Anarchist Manifesto," [reads]() the webpage for the Institute. "With a fast internet connection, reliable anonymity and decentralized currency, you preserve freedom which we have been losing as a society." ## Tread Lightly And yet: Polis makes some interesting points, particularly when it comes to their hard lines data and privacy. There are legitimate critiques to be had about our global financial system, most notably, the fact that it's reliant on middlemen, and those middlemen — banks, insurers, exchanges — can fail ([see: 2008]()). As the general logic of decentralized finance goes, removing meddling institutional middlemen and government regulation could result in disseminating (to the general population) the power those institutions once held. In short: Destroy the dollar, and in theory, the people gain more autonomy. In their Manifesto, the anarchists liken this to nothing less than the advent of the printing press. "Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure," the Manifesto [proclaims](), "so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions." The group also appears to have some notable allies; ETHPrague, for instance, was held this year at the operation's headquarters. And, per *CNBC*, Polis franchises have opened in Vienna, Barcelona, and two other Slavik cities. But democratizing written knowledge and absolutely obliterating global financial systems are, of course, very different things, with very different consequences. Financial regulations — if often flawed and porous — exist for a reason, and if [we learned anything]() from the year 2022, it's that decentralized finance can [very easily]() be taken advantage of; last year's crypto crash caused a [trillion dollars]() to effectively vaporize, and when it did, an incredible amount of harm was done to countless [real people's bank accounts](). At least for the time being, take crypto-anarchism's promises with a hefty pinch of salt. **More on crypto:** [*The Feds Are Now Using Crypto to Catch Drug Traffickers*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()