History Is Full of Failed Attempts to Establish New Currencies. So What Makes Crypto Different?

History is full of failed attempts to establish new currencies. So what makes crypto different?

Bukhta Yurii/ShutterstockThe confusion and commotion over cryptocurrency often reminds me of the 19th-century German drama Faust. In Goethe’s masterpiece, the devil Mephistopheles offers an emperor the tantalising vision of limitless wealth through the printing of paper money. The emperor grasps the idea (unheard of at the time the play is set), and the magical wealth which paper creates brings brief prosperity to his troubled dominion. But what…

Former CFTC Chairman: Stablecoins Will Replace Failed Currencies

Former CFTC chair Chris Giancarlo told CNBC that dollar stablecoins give 24/7 dollar access and can displace failing fiat. He stressed clearer rules and infrastructure will let compliant issuers scale. In an Aug 29 CNBC interview, former CFTC chair Chris Giancarlo said dollar stablecoins will replace failed national currencies in countries where banking breaks down.  […]