Critics of crypto often talk down on this asset class due to its volatile nature and price instability\/unpredictability, however,\u00a0in countries prone to economic instability, crypto assets can prove to be a safe haven in periods of rampant inflation and flawed monetary policy.<\/p>\n
The citizens of Venezuela have indisputably had a rough year, with their Venezuelan Bolivars inflating by upwards of 100,000% to become nothing more than paperweights.\u00a0Although President Maduro is making moves to combat hyper-inflation (which are failing, by the way<\/a>),\u00a0some claim that it may already be too late, as citizens throughout the South American country have already fallen into financial ruin.<\/p>\n Keeping this in mind, Xen Baynham-Herd, the Head Of Strategy at Blockchain, recently brought up an interesting point about how digital assets can operate as an alternative to “stable fiat currencies or safe haven assets (gold).”<\/p>\n Regular people in inflation prone countries like Venezuela, Turkey, Iran and Zimbabwe are seeing their life savings disappear<\/p>\n They don\u2019t have easy access to stable fiat currencies or safe haven assets<\/p>\n This is why we need stable digital assets that are universally accessible<\/p>\n — X \u039e N (@XenBH) September 3, 2018<\/a><\/p><\/blockquote>\n\n