Unfortunately, because gold does represent a meaningful alternative to today's fiat currencies
, it also has a substantial amount of exchange-rate variance with those currencies.
Bitcoin's complete independence from other fiat currencies
and precious metals make it "ineffective as a tool of risk management," says Yermack.
In truth, gold is not rising; fiat currencies
are falling and will continue to do so until governments around the world begin to act responsibly.
"Given the historical role of gold as a storage of wealth, perceived devaluation in the purchasing power of fiat currencies
translates into demand for what is essentially the ultimate global reserve currency," Jansen said.
"The IMF is issuing its own paper currency," and, like all fiat currencies
, it's backed by nothing, Rickards said.
Global Banking News-August 1, 2019--UK's Cashaa to allow crypto businesses to open accounts in fiat currencies
BANKING AND CREDIT NEWS-August 1, 2019--UK's Cashaa to allow crypto businesses to open accounts in fiat currencies
M2 EQUITYBITES-August 1, 2019--UK's Cashaa to allow crypto businesses to open accounts in fiat currencies
The PoC's design involves using digital currency backed by fiat currencies
of the two nations," Al Mansouri said while addressing the Arab Fintex symposium in Abu Dhabi.
Medici Ventures, a subsidiary of Overstock.com, announced that its portfolio company Bitsy.com has commenced the limited beta launch of a digital wallet service that creates a simple, secure, and convenient bridge between traditional fiat currencies
Stellar is an open-source, decentralized protocol for transfer of digital currencies to fiat currencies
, allowing cross-border transactions between any pair of currencies.
In the Exscudo ecosystem they are needed to create equivalents of existing crypto or fiat currencies
and assets, enabling users to work with different currencies with the same rules.