How much is your money really worth? As Opes News founder, Linton Johnson, finds out – this depends on the people who print it.
Fiat money – your ordinary everyday money, whose value is regulated by the government that issued it – is proving not as good as it’s cracked up to be. The value of the US Dollar, Pound Sterling, Euro, Japanese Yen – they fluctuate over time, most of the time losing their value because they’re being overprinted.
Abdel-Karim Madjido, a serial entrepreneur, explains to Johnson how cryptocurrency tackles the issue.
“When you have some level of scarcity, we know exactly how many coins there are, and they can’t just be printed out of thin air.”, explains Madjido. He goes on telling Johnson that, little by little, we’ll be able to pay for almost every service using crypto. Madjido remarks that there are already people who live 100% crypto – buying their plane tickets, groceries, and pretty much everything else using cryptocurrency exclusively.
Abdel-Karim further explains that “The more you print of something, the less valuable it becomes.”, as this is the exact reason why your money is worth less by the day. Crypto, on the other hand, is self-regulated. No one can dip their hand in the cookie jar and take what they want, or create additional crypto coins for their own needs.
Madjido expects that in the near future, we will have debit cards of sorts that will handle crypto instead of fiat currencies, allowing you to sleep tight, knowing that your money’s worth will be the same tomorrow as it was today.
