Economics
Open is not the same thing as Transparent.
In some currencies, the rules may require complete transparency. In others, there may be privacy (of participants, contents of transactions or whatever).
Think of it this way. There are card games where some cards are public and dealt face-up and some are private and dealt face-down. All the players can see that cards were dealt even if they can't see what the cards are.
Open Data allows all players to see a transaction took place, but the transaction can contain private encrypted data (similar a face-down card). The rules of the currency determine how much transparency there is.
A currency could have numbered accounts where the identity of the people transacting is private (like Swiss bank accounts), the amounts are private or what was transacted was private, but if it shares its data using our Open Data protocols, each transaction will be visible, but what parts of that transaction are readable without special keys is customizable.
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As long as there are monopolies granted for money-making powers, we cannot have a free market or even a true democracy. The people who control the money supply can and do use that control for their benefit and use the resultant wealth to buy politicians and exert undue control over the government.
No amount of law-making or regulation can counteract the imbalance of the power that a monopoly has in a system which is as fundamentally closed, hidden, secretive and convoluted as our financial system.
If we ever want economic stability and sustainability then we need to build a new system which can be self-regulating.
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