The Currency Analytics
By Steven Anderson
Ripple (XRP) Helping Transfer Value
Joel Katz, CTO at Ripple discussed the role of digital assets in the post COVID world with Barry Eichengreen.
The discussion focused on the current state of the global economy and on how digital assets fit in the post-COVID climate.
Barry explained that there was never a need to shut down the economy and how this is likely to be a slow-motion crisis and about how there were no historical analogies for what…
Investors are expecting hyperinflation and are looking at investment opportunities which can help maintain the value if the price of the dollar would soar.
Barry stated, “Gold doesn’t really have any intrinsic value.” He clarified that gold will continue to hold value for as long as people believe it has got value.
He also pointed to how speculative investments have come and gone throughout history. Therefore, that cryptocurrency might not sustain for long with a speculative image.
Concerning the current economic situation he stated, “Better to ask an epidemiologist than an economist.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Ripple (XRP) might soon become a supplement to existing fiat currencies.”
There is a need for bridge currency to fill the gap. The confidence in the worldwide fiat system is broken and for those who still believe they are going to lose hope soon.
There will soon be a need to change the order of things in a way to suit global political and functional needs.