Before it has any value, before people hold it in favor of fiat.
We really do care about terminology now, and it's not precisely "backing," but that's how I've read it.
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Exactly, "backed by fiat" is the part that triggered me too 🤣
It's cool to see how the fundamentals were there already, but the notion of non KYC clearly didn't exist yet.
Looking forward to finding out what notions we don't have words for yet in the systems we build today.
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