@Nouriel Many countries have internal inflation risk in their local currency. Wealthy people can purchase assets like gold or boats. People without wealth also need to have access to assets. Losing 20% or 50% in a crypto is still preferable to losing 80% in a local currency.
This is great. Getting to the 2 cents per liter metric can mean this is a profitable idea for deployment. The next question is how to protect the vulnerable populations (women/children) who no longer have the social protection…https://t.co/WvjRGn3YfW https://t.co/WfjXvkRWqI