Flaws In Fiat Currency
The story below depicts what steem future holds.
STEEM IS THE HEIGHT OF DECENTRALIZATION.
Bitcoin did it and steem is doing better.
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McGinnis and Roche argue that a big reason for bitcoin’s popularity is that it has advantages over fiat currencies. Fiat currencies rely on trust in government. Some government entities, like the Federal Reserve Bank, inspire trust, but others have monetarily oppressive regimes. Argentina, for example, debased its currency up until last year, while China restricted transferring currency out of the country. Bitcoin trading has been strong in both countries.
Bitcoin does not rely on a government entity that politicians can manipulate. Instead, trust is placed in the decentralized order of the parties that verify bitcoin transactions. These “miners” maintain the bitcoin blockchain.
Also this is a similar trend steem is following, and took it to a whole new level by bringing Steemit.
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