Gold, USD, Bitcoin, and Diem

Photo by Roman Synkevych on Unsplash

Whether you are scrolling through Facebook feeds or reading your local newspaper, headlines about Bitcoin, money printing, and inflation are everywhere. Yet to a person with no economic or software engineering background, these may be difficult to understand. The purpose of this article is to provide a brief insight into these economic concepts in the context of how the current monetary system works and why blockchain technology could be in the process of introducing an arguably viable alternative. This write-up focuses on basic macroeconomic and programming definitions to explain these concepts without engaging in any in-depth analysis.

Can cryptocurrencies play the role of money?

To answer this…

Davidstevberg

Financial analyst

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