About that coffee you’re having and Economic Globalization
As you probably noticed, the increasing and unstoppable globalization affects global politics, global culture, and of course, global economy. We no longer live in isolation, as something happening in one region is closely linked to consequences all over the World. We don’t need to go far for an example: In 2016, the US presidential election and Brexit caused upheaval in financial markets all over the World.
Problem: Global economy, local currencies
As you drink your morning coffee, observe it for a moment and think about this: Many national economic systems and currencies have participated in the process of bringing that coffee to your table. The value of that cup of coffee is sensitive to currency fluctuations all over the globe… just as your wealth.
Even though we live in a global world, the system still works in terms of local currencies. We live global but we save local, a paradox that has been well studied by GLOBCOIN experts. The truth is, a solution to the global currency paradox hadn’t been made available to the community before.
Solution: A currency that actually reflects the World Economy
Some people think (Maybe most people) they have no currency risk if they stay within the borders of their home country. This is not true anymore. The economy is so globalized today that if your currency weakens for any reason, your purchasing power will be reduced accordingly.
We want to create a real global currency for the global village we all live in. GLOBCOIN created a digital coin that intents to reflect the world economy by combining the best aspects of cryptocurrencies and the best aspects of fiat (or traditional) currencies. The plan is to link this digital coin to a basket of currencies from the 15 largest world economies and 5 % Gold.
Just imagine a currency that can be used for transactions across the globe without borders, truly “currency neutral”, truly global, without any currency bias.
*Written by: Eva — GLOBCOIN Community Manager
