Money does not need to be the paper we are used to seeing in our wallet. Money can be anything that serves as a store of value, unit of account and a medium of exchange. Money is how our communities trade within themselves and with others.
The antidote to fiat currency debasement - sound money gold, silver, or Item Banc who is backing and commoditizing a cryptographic currency with BHN - basic human needs - food, shelter, clothing, medical, and paper products. The products are produced and staked to Item Banc who then mints the currency which can be redeemed for these items. The currency is backed by hard goods unlike the current system which is backed by debt and confidence; and with the former inflating the later is waning.
Voluntary decentralized currencies on permissionless blockchains and commodity backed digital sound money ecosytems will save a lot of grief.
#inflation#hyperinflation#Lebanon#currencyhttps://www.forbes.com/sites/tatianakoffman/2020/07/09/lebanons-currency-crisis-paves-the-way-to-a-new-future/#78bacf1f6a17
Money does not need to be the paper we are used to seeing in our wallet. Money can be anything that serves as a store of value, unit of account and a medium of exchange. Money is how our communities trade within themselves and with others.
The antidote to fiat currency debasement - sound money gold, silver, or Item Banc who is backing and commoditizing a cryptographic currency with BHN - basic human needs - food, shelter, clothing, medical, and paper products. The products are produced and staked to Item Banc who then mints the currency which can be redeemed for these items. The currency is backed by hard goods unlike the current system which is backed by debt and confidence; and with the former inflating the later is waning.
Voluntary decentralized currencies on permissionless blockchains and commodity backed digital sound money ecosytems will save a lot of grief.
#inflation#hyperinflation#Lebanon#currencyhttps://www.forbes.com/sites/tatianakoffman/2020/07/09/lebanons-currency-crisis-paves-the-way-to-a-new-future/#78bacf1f6a17
