Over the last year, we’ve seen the rise in cryptocurrency or digital cash. Cryptocurrency is an electronic cash system people can use to purchase and sell merchandise and services. Just like you would with physical cash, you would send and receive money via a peer-to-peer network that has no central authority.
Many believe that cryptocurrency and the processes of an electronic cash system is the way of the future when talking about money. Harald Seiz is one of those believers.
In his latest book, “The Future of Money,” Seiz expands on his theory of how we know money today will eventually become obsolete. If we do not find a new method, what will we do?
The issue we face is that money loses value. We’ve seen it time, and time again as the market fluctuates, crashes, builds itself up again, before heading in another downward spiral. The first notable market crash was the infamous Dirty Thirties, or the Great Depression, which latest for over a decade. Once again, in 1987, the market crash on “Black Monday the 2nd.”
One of the most memorable crashes in recent history is the “Great Recession” crash of 2008. The United States financial sector almost came to a complete collapse during 2008 and 2009.
Seiz notes in his book that the financial market gives us a false sense of security. With so many factors influencing the market, the future of money has a grim look to it. It is too unstable for the world to continue to rely on.
“The first signs are unmistakable and already perceptible in the present,” warns Harald Seiz on the condition of the financial market.
Read the full article on financial-star.com