Sorry to burst your bubble, but the chance we go back to a metal-backing of currency is basically zero. Even when we had the gold standard it was completely fake, with less than 5% of the currency in circulation actually backed by metal in reserve.
Yes, the financial system is likely going to collapse. Yes, we will turn to asset-backed currencies for stability (backed by energy and other commodities like agricultural staples, commercial metals, timber, etc), but we absolutely aren't going back to a gold-backed currency.
edit: the downvotes are remarkable. The gold standard was completely, 100% fake even back in the early 1900s. We are returning to asset-backed currencies, but a currency backed by only gold isn't stable and will not be the world's currency. Sorry.
Government and bankers cannot be trusted to issue currency again... EVER. It's too much power to entrust to any nation or group and would still require banking in large part. Don't leave a single piece of their control system in place. Stupid and evil people will eventually corrupt or "fix" (ruin) any system that has an element of opportunity to do so. Only a dog should return to its vomit to lap it up.
The only solution that doesn't need banks or government is crypto / blockchain tech. It is decentralized and has EVERY quality of a fiat dollar, only better. And when you consider that you don't currently use physical cash much these days, you use credit / debit / $ apps, you may realize that you already are using a digital system, just one that can be monitored and controlled by the gov on a whim.
While digital banking and electronic payments added the convenience of digital ledgers, they simultaneously decreased privacy and constrained access. Crypto / blockchain solves that issue as well.
The current token was sold on eth network to raise the funds to build out the holochain network. The asset-backed holofuel will be exchanged 1 for 1 with the ERC20 when the holochain network is complete. It is not just a currency, holochain is a platform for a completely distributed, p2p internet that is free from censorship.
Sorry to burst your bubble, but the chance we go back to a metal-backing of currency is basically zero. Even when we had the gold standard it was completely fake, with less than 5% of the currency in circulation actually backed by metal in reserve.
Yes, the financial system is likely going to collapse. Yes, we will turn to asset-backed currencies for stability (backed by energy and other commodities like agricultural staples, commercial metals, timber, etc), but we absolutely aren't going back to a gold-backed currency.
edit: the downvotes are remarkable. The gold standard was completely, 100% fake even back in the early 1900s. We are returning to asset-backed currencies, but a currency backed by only gold isn't stable and will not be the world's currency. Sorry.
Government and bankers cannot be trusted to issue currency again... EVER. It's too much power to entrust to any nation or group and would still require banking in large part. Don't leave a single piece of their control system in place. Stupid and evil people will eventually corrupt or "fix" (ruin) any system that has an element of opportunity to do so. Only a dog should return to its vomit to lap it up.
The only solution that doesn't need banks or government is crypto / blockchain tech. It is decentralized and has EVERY quality of a fiat dollar, only better. And when you consider that you don't currently use physical cash much these days, you use credit / debit / $ apps, you may realize that you already are using a digital system, just one that can be monitored and controlled by the gov on a whim. While digital banking and electronic payments added the convenience of digital ledgers, they simultaneously decreased privacy and constrained access. Crypto / blockchain solves that issue as well.
I'm fully aware. This is the project I'm working on. Asset-backed, value-stable crypto. Fully distributed, not a ponzi like most blockchains.
https://www.youtube.com/watch?v=hn7aWuerBB8
Thats running on Layer 1 Eth network?
Also I like my currency to grow in value like gold did
The current token was sold on eth network to raise the funds to build out the holochain network. The asset-backed holofuel will be exchanged 1 for 1 with the ERC20 when the holochain network is complete. It is not just a currency, holochain is a platform for a completely distributed, p2p internet that is free from censorship.
https://www.youtube.com/watch?v=TPVo0pOB2yQ
But yes, the HOT token currently is an ERC20.