Milton Friedman's 1999 bitcoin prediction and the dubious printing of fiat by Central banks

(Olu ) #1

Random musing!

A few days ago, the European Central Bank shocked followers on Twitter by openly admitting that they are in the business of creating fiat money out of thin air.

Many people who turn to crypto have a classical libertarian/Austrian economics background and seek freedom from a flawed global financial system. The tweet above is going to reinforce faith in blockchain and even win new converts. It is basically going to get people thinking and asking critical questions.

A 1999 prediction from renowned American economist, Milton Friedman, is also worth reviewing.

Nash is wise to pursue as many regulatory licences as possible from different jurisdictions around the world. This demonstrates the company’s legitimacy and distinguishes it from the multitude of scams out there.

However, it is also important to promote a decent level of self-regulation, because most government regulatory bodies are just not evolved to fully appreciate the value that Distributed ledger technologies bring to FinTech and the world as a whole.