>> Because the creator of crypto concept never understood why there are centralized institutions in the first place.

You are totally missing the point. Having to rely upon central banks was the fundamental problem being solved.

> The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.

-Satoshi Nakamoto [0]

Getting central banks out of the picture is original philosophical motivation for developing a digital currency. All of the "cashless society" convenience aspects are secondary features. Everything that follows, regarding ledgers/records/blockchain/double-spending/trust-less is what's needed to make a digital currency work without a centralized authorities that mint money and validate transactions.

> A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990's. I hope it's obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we're trying a decentralized, non-trust-based system.

-Satoshi Nakamoto [1]

Next up, the irreversibility of transactions is a feature, not a bug.

> For many purposes, reversal and arbitration is highly desirable, but there is no way anyone can compete with the arbitration provided by Visa and Mastercard, for they have network effects on their side, and they do a really good job of arbitration, at which they have vast experience, accumulated skills, wisdom, and good repute. So any new networked transaction system has to target the demand for final and irreversible transactions. [2]

[0] http://p2pfoundation.ning.com/forum/topics/bitcoin-open-sour...

[1] http://p2pfoundation.ning.com/forum/topics/bitcoin-open-sour...

[2] https://satoshi.nakamotoinstitute.org/emails/cryptography/th...