Fiat Currencies Are Breathing Their Last Breath

Fiat Currencies Are Breathing Their Last Breath

The euro recently had its 20th birthday birthday on January 1, 2020. The US dollar is almost 50 years old, and the Swiss franc is turning 20 years old in August. Due to the unbacked nature of fiat currencies, their average lifespan is only 27 years. Towards the end of their life, they succumb to diseases like hyperinflation and forced conversion into a new currency. In fact, the latter is how the euro was born. After all of the central banks in the European Exchange Rate Mechanism (ERM) printed too much money, they could not maintain their fixed exchange rate with the German mark.

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RealUnit’s Vision: Creating a Switzerland-based Settlement System for the Global Economy

RealUnit’s Vision: Creating a Switzerland-based Settlement System for the Global Economy

The distributed ledger technology will narrow banks’ profits on cross border settlements by decreasing the number of intermediaries, and thereby, lowering counter-party risk. Banks earn an average of 6% in revenue on consumer to consumer international payments while Business to Business payments generate less than 1 basis point in return. Another way blockchain helps Main Street instead of Wall Street.

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