Nope. I'd call alternative currencies decentralized. Up to the 19th century with it's nation states and use of paper money it was quite usual that local rulers or single cities had their own mints. In times of crisis there were alternative currencies, precious metals, cigarettes, bottle caps. And then there are
Local currency - Wikipedia.
And in order to do any kind of trade with the outside world, they had to rely on a centrally controlled currency, such as the US dollar.
Also, note how most of the examples of local currency Wikipedia lists are from the industrial or post-industrial era: Before the invention of paper money, minting relied on a supply of precious metal, whose logistics were almost entirely in the hands of large, centralized military powers such as the Abbasid Caliphate, the Byzantine Empire, or the Chinese Empire. Even in more locally-oriented economies such as the Holy Roman Empire, it was the electors and imperial princes who had a grip on the local money supply -
not local communities, and certainly not the common people.
Currency as we know it today was developed to faciliate international trade - local communities generally do not need precious metals to keep track of who owes what to everyone; a local register suffices - and international trade has always been the domain of the few and the powerful.