What's most interesting about this is that Marshall Islands stated goal is to reduce dependence on the U.S. dollar. The IMF urged them not to move forward with their plan but they've decided to do it anyway and on the Algorand blockchain. To me, this is a sign of things to come. More and more entities and nation states will decouple from the U.S. dollar, as well as other dominant state backed currencies, such as that of China and Russia. Ultimately, I believe there's nothing the legacy financial system can do to stop the inevitable. Eventually, everyone will have exposure to various competing currencies of their choice in a wide-ranging free-market.
Submitted March 03, 2020 at 06:06PM
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