The chief executive officer for ShapeShift, Erik Vorhees predicts the imminent future bearing cryptos as the standard currency units with the fiats being dismantled by the prior ones. He states that by the year, 2030, the fiats will have much lesser value and the devalued units will affect the overall poverty rate for the bankers who acquire the top most position in the corporate financial ladder. This being the case, one thing is sure as per Erik, that is that the fiats are destined to be the second tier currency standard units, the first being the cryptos. Which crypto is more likely to get away with the top accolade is still under debate but seemingly, the bitcoin will be the one to be named as the currency juggernaut as the dust settles down, given the experience and the massive exposure the coin has had through the years. BlockPublisher set to extract some comments from the man himself.
Right after the world accepts the cryptos, by 2030, losing the fiats as the top currency, the global poverty rate will lower down to a range below 5% except from the bankers, whose financial situations will be rather critical.
FEE (The Foundation of Economic Education) posted a statistical study which reflected the percentage of poverty throughout the globe at a certain lowering as the decades rolled on. Erik suggests that fiats have taken the economy to the highest peak possible and we must resort to other ways to boost our economy which needs our attention, the most.
With the bankers having access to the majority of the global finance, the demotion of fiats will eventually rip the control altogether leaving them at an equal chance as any other individual. The trend will go as Erik suggests.
The poor keep getting richer as well… that’s the point of the article. It will be ugly and awful and tremendous suffering will occur. And the longer the fiat bubble goes on, the worse it will be.
Vorhees throws another statement backing his school of thoughts portraying a lively picture of his views.
I consider “fiscal policy” in the same category as “religious policy” or “speech policy” or “friendship policy.” Such things shouldn’t exist among a civilization of free people; they should not be at the whims of coercive central planning.