I’ve been thinking about possible usecases/marketfit that Nash Link could bring to the platform. Maybe i’m a bit slow-witted and my idea is obvious, but i thought i’d share it nonetheless!
I believe the most important goal for cryptocurrencies is to function as an alternative to the fiat financial system and it’s flaws, especially the threat if (hyper)inflation.
I believe there is especially potential for Nash in countries who’s fiat is under threat or is experiencing problems with inflation. Nash would offer it’s customers the possibility to get exposure to three of the biggest inflation hedges, namely the dollar (usdc/tether), gold (nnn) and bitcoin.
In places with high rates of inflation (think of venezuela), this would be a lifeline for merchants and customers alike, preserving their savings.
Nash Link would offer these customers and merchants the ease of use to pay in the currency of their choosing, making it a viable alternative to the fiat system that’s in place.
I do believe this would require ‘boots on the ground’, e.g. a division who’s focussed on local/national marketing efforts and it’s fiscal regulations and policies.
Would something like this create business opportunities for Nash? What do others think about this?
Using USDC and having access to US markets, whilst at the same time supporting those who oppose a hegemony of one single global reserve currency is not going to work. Parties are being forced to make a choice and since the majority still use that fiat currency, regardless of any potential questionable status, others will continue to do so as well. It will hurt these countries as the savings of almost ALL countries in the world are being eroded continuously when one party has the power to inflate away these savings and then use those savings against others for even more power. This is basically forcing those who follow all the rules to choose a side and thus become political when the desire is to choose no side at all. For the same reason all business is blocked with Syria, Iran, North Korea and a host of other nations.
It would otherwise have been a good use case, but I guess Nash has to focus on all still accepted markets. They have a similar inflation problem.
On a positive note, the IMF is already calling for a new Bretton Woods agreement. I am not saying I would want that kind of agreement, but it does indicate the current one is nearing its expiration date. This weekend also $80 trillion in derivatives got switched from LIBOR to SOFR, so things might get turbulent in case everything did not go as hoped. The inflation might initially not be as bad as it seems as the Eurodollar system collapsed which created many international ‘shadow dollars’. The Federal Reserve now has to step to compensate for the collapse of the Eurodollar system, so initially it might seem worse than it is, but long term (if they are allowed to continue with this), it will be exactly as bad as everyone thinks it is. Probably good for Nash and those who use it though…