Inflation and Digital Asset — why this is such a crucial issue in 2021?
What is happening in our society right now? It is clearer than ever that the global monetary system or, as simply as it is called, “money” is being generated and controlled by the big players and rich countries.
It’s interesting when you look back into the history of money and how humans developed the system from shell, to large medals, to paper checks until we have what we call currency, and now using paper notes, coins, or even plastic cards like credit or debit cards…. To be ‘money’. Right now, after the world was hit by a global pandemic, every country is facing an economic downturn and crisis. Not only developing countries that suffered from this crisis but also, all the developed countries and world powers that are suffering from this nightmare.
We all know that inflation will soon arrive when the balance of money is cracked. Right now, a lot of money comes from ‘printing’ without any backing. What if inflation hits harder than ever and money has been transferred into a digital world, instead of a physical world?
Digital world comes along with digital assets. Cryptocurrency and digital token is already well known after the price just hit another all-time-high in the last few days back. This is such a significant moment because suddenly people understand more about digital assets and start to question the old status quo. — How can we trust our system? And how much is the credibility of our current “money”, when the money just “somehow” came out from “somewhere”. This is actually hard to believe that there is still some value in it, and it is something that needs a lot of evidence to convince people to trust in the system.
On the contrary, with digital assets that use blockchain technology, transparency and credibility is there in the system and those who understand the system know how transparent blockchain is and that is basically why it gained so much trust from the world in recent years. Not only that, if you imagine and remember the example of some of the ‘extreme’ cases….on the day where money just suddenly become a piece of paper and the number on it is just simply ‘a number’, when no one believe in that notes….they are just a piece of paper and people will just suffer so much by just trying to survive. Imagine one day a pizza cost you a million notes. That is a real nightmare.
Inflation to the moon? — — — let’s stay tuned and see how our future is heading.
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