False. Currencies were not backed by central authority before the decline of golden standard in 20th century. Before that, every bank note and every coin was exchangable for a piece of gold if the currency was based on gold standard. No central banks existed! Also no hyperinflations... Fiat is the largest scam ever made.
We're a place where coders share, stay up-to-date and grow their careers.
We strive for transparency and don't collect excess data.