Cryptocurrency: Forget bitcoin and other cryptos, a single stablecoin backed by government guarantees is the real future - The Australian Financial Review

History and the basics of the monetary system show that the future of cryptocurrencies, if any, is likely to be a single stablecoin backed by government guarantees.

In 1971, US president Richard Nixon abandoned the greenbacks fix to the gold standard so the US could expand money supply to finance the Vietnam War. If Russia ran out of liquidity to service its lia… [+3398 chars]

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