The global economy is facing an unprecedented currency disruption.
For decades, fiat currencies — based solely on the credit of a national government — have been the global norm. Since the United States stopped tying dollars to the value of gold in 1971, for instance, the currency has no value apart from its federal endorsement.
More recently, cryptocurrencies — decentralized, virtual currencies kept anonymous and protected from counterfeiting via encryption — have rapidly gained prominence. Countless reputable institutions — from Tesla and Morgan Stanley to Harvard University and PayPal — have accepted, bought, and encouraged the use of bitcoin and other digital money.
Source:
The Daily Wire
