How does the fiat standard affect the adoption of digital currencies?

1 answers

• Annette SkilesJun 03, 2024 · a year ago
  At BYDFi, we believe that the fiat standard has a significant impact on the adoption of digital currencies. When the fiat standard is strong and stable, people may be less inclined to explore alternative currencies. However, if the fiat standard is weak or experiencing issues like hyperinflation, individuals and businesses may seek out digital currencies as a more reliable and secure form of money. Digital currencies can provide an alternative financial system that is not subject to the same vulnerabilities as fiat currencies. Therefore, the state of the fiat standard can greatly influence the adoption and usage of digital currencies.
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