The US dollar still reigns as one of the biggest economic powers in the world, but is cryptocurrencies a real threat to its hegemony? Over the past years, the power of the US dollar has decreased, as more economies have started developing over time. The US dollar represented 40 percent of the world’s gross domestic...Read More
U.S. Treasury Secretary Steven Mnuchin remarked last week that a reported $1.5 trillion in missing cash — mostly one hundred dollar bills — was “sitting in bank vaults all over the world.” The famously anti-bitcoin U.S. official noted that “there’s a lot of ‘Benjamins’ all over the world” and emphasized the strength of the currency...Read More
Nearly one-third of Americans falsely believe that the US dollar is backed by gold, and 70% don’t know what is backing it. That’s just the tip of the iceberg when it comes to US financial illiteracy, however. A new study reveals just how little Americans know about how their money works. An eye-opening new study...Read More
Facebook’s Libra project is getting a lot of flack. The happy-go-lucky attitude associated with this project continues to raise eyebrows. Despite some major critiques, the concept still holds merit to some. The Bank of England’s Mark Corney wants to see the US Dollar replaced. In fact, he claims the Libra – or its reserve currency...Read More
Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors....Read More
