Connect with us

Hi, what are you looking for?

Top Stories

Why the rise of a Bitcoin standard could deter war-making



Alex Gladstein, the CSO at the Human Rights Foundation, says that if Bitcoin was adopted as a global reserve currency, nation-states would be less incentivized to start wars.

According to Gladstein,  the U.S. was able to sustain its “forever wars” in Iraq and Afghanistan mainly by borrowing capital. That was possible largely because of the Federal Reserve’s monetary policy, which has been keeping interest rates relatively low through quantitative easing. 

“We literally print money, we sell bonds to the open market for a promise to pay in the future and we use the income from the bond sales to pay for these wars.”, explained Gladstein in a latest interview with Cointelegraph. 

Unlike fiat currency, Bitcoin’s total supply is immutable. That means that if nations adopted it as their main reserve, interest rates on borrowed capital would be much higher. That, according to Gladstein, would make unpopular wars harder to sustain for governments. 

“These forever wars get probably cut out or reduced in a Bitcoin standard”, said Gladstein. 

According to Gladstein, the Russia-Ukrainian conflict culd trigger the decline of the U.S. dollar as the dominant reserve currency. As he pointed out, nation states are looking to reduce their dependency on the greenback after the U.S. froze Russia’s dollar-denominated reserve in response to its attack on Ukraine. 

“It is forcing a rethink there where governments are like “well, maybe I don’t want all my eggs in one basket. Maybe I don’t want the U.S. government to be able to freeze all my stuff.”, said Gladstein. 

Check the full interview on our YouTube channel and don’t forget to subscribe!

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

Latest

Top Stories

FTX founder Sam Bankman-Fried and Alameda Ventures made recent headlines for bailing out a handful of CeFi crypto platforms this week, but what exactly...

Top Stories

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and...

Top Stories

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in...

Top Stories

The company enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. Source link

Technology

Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit...

Top Stories

Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week. BTC/USD...

Advertisement

You May Also Like

Uncategorized

Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...

Advertisement