With crypto against inflation? Blockchain does not replace people

Programmable currencies on a smart blockchain could keep inflation under control to a certain extent mechanically. For all our fascination with this idea, however, we should not forget how vulnerable the crypto sphere is to unexpected events.

Exchange rates for bitcoin, litecoin, monero and ether to the Swiss franc in a recording from November 4, 2021.

Arnd Wiegmann / Reuters

In order for an economy to function, it needs “money”. We are currently experiencing some dramatic developments when it comes to money. In the “old world” of money, central banks operate, which have created a lot of new money since the last crises and are busy fighting high inflation rates.

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