By Katia Shabanova
Challenging and volatile times often result in the emergence of better foundations – more stable and durable. Although the world is slow to adapt to changes, in the emerging all-digital realm, fiat money is becoming a thing of the past — such as a relic of the oil and gas era.
Modern banking is often a painful experience riddled with hassle and inefficiencies. Interaction with money should not feel like an uphill struggle but an autonomous and straightforward experience that makes financial freedom accessible to all.
The technological advancement in the finance area is undergoing a significant reshaping. During the last few years, the overall capitalization of stablecoins skyrocketed. However, the cryptocurrency realm is still regarded as a Wild West, full of traps for new investors interested in making quick profits. Decentralized Finance and stablecoins: the two emerging trends are now combining into a game-changing equation that will benefit tech-savvy users.
Spearheading the digital finance environment
Fiat money is not only inconvenient in the world where most people are used to rapid tech innovations. The latest study suggests that 70% of the United States population carries a credit card, with 34% having three or more cards. Debit cards remain the preferred method of payment. At the same time, new cash vs. credit card spending statistics shows that people tend to spend way more when paying with a credit card. Most people use credit cards for convenience and security.
From paper money – to digital, we need to take another leap forward in the global mentality to realize that fiat money is an inflationary asset. Storing dollars in bank deposits over a long period makes no sense at all since you will lose all …
Full story available on Benzinga.com