I understand the sentiment; there is a lot wrong with the current system. But any new world that you create should have at least the same level of protection against fraud, theft, and speculative bubbles as the current (imperfect) world; otherwise even more people will be hurt. The world of crypto-currencies has not been very reassuring in this regard, unfortunately.

I agree. Most of the issues you describe are related to the terrible experience of what to do with your currencies after you've bought them. None of them are very useful at the moment, so there needs to be a safe way to store them, and the easiest thing to do is just leave them sitting in your exchange accounts. There are ways store them properly (hardware wallets, which aren't perfect either), but there's no way any non-tech/non-determined folks will consider a free solution like a paper wallet. I'm looking forward to seeing what Omise comes up with on their multi-currency wallet and supposedly instant conversion via a decentralized exchange.

However, I think the real hope for this (and yes, a community-driven approach rather than government-controlled) is what's already changed the world in my lifetime through open source communities.

The most successful distributed ledgers have so far been open source. This is another sentiment, but I started using Linux in 1996 because I hit too many brick walls in Windows as a kid. Just simply learning how it works always resulted in at least one headache (I recall trying to learn C++ in windows at that time, and then seeing a friend's Debian environment, and that was that)

Since then I've seen those philosophies (more social than technical I think) creep into so many previously off-limits proprietary areas. It blows my mind what we've achieved, not just creating a system where we have more control but forcing the "evil" companies many of us hated at the time, like Apple and Microsoft, to adapt. I never thought Microsoft would open source anything, yet here we are with dotnet core and more. I don't see any reason why we can't carry that over into banking and fintech, and this does feel a lot like the clunky early days of Linux. But a well-organized decentralized movement can topple major centralized institutions, and while a complete takeover by the people probably won't happen, already every major bank is adapting to this new world. And they have much less control in this one, too.