The world economy today has tumbled with so many countries currently suffering from economical pandemic. This pandemic is as a result of inflation, where prices of goods are drastically on a high side. Tops countries have being able to manage the ongoing situation while others are still struggling with it.
The pandemic of discussion is n't the disease related.
This economical pandemic has hit so many citizens, rendering their income to a little penny. Has it always being like this from two decades back ?.
Tactically, the current pandemic seems to be a problem that can be overcome, by absorbing the pressure that comes with it. Implementing a checkmating factor that oversees inflation, can benefit oneself.
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From the regular chess game, checkmate only occurs when the king is placed in check, having no other plan or moves for escape.
The idea of checkmating has worked for so many people, who have being able to key into the vision of cryptocurrency. Most person, who where opportune to have being in the early lime light of crypto project, are already considered to posses this tactics.
A Look At What Fiat Can Do
Every country has a general language that guides it. This language is generally accepted within a country, allowing citizens to make use of it as an exchange medium. It is generally called Money
Money is regarded as fiat due to its physicality and authority it has in a particular region or country. This fiat is never backed by gold or silver.
Increase in inflation rate has devalued so many fiat, thereby reducing their authority over the price of goods that are available. This currencies tends to remain the same, but the price of goods tends to gain more authority over the fiat of a nation.
Day-to-day jobs which has being made available in a country have being seen to offer same amount as salary while inflation is still going up.
This has left so many person in a state of frustration, as they have find it difficult to spend their income even after drafting enough plans for it.
Where Cryptocurrency Now Comes In
Cryptocurrency is a digital currency that has a way of making genuine increase in price, relative to the rise in inflation in a country. This genuine increase in price, gives it more authority than fiat currency.
This gives it a proper difference between cryptocurrency and fiat currency.
The crypto industry is making a huge impact on the economy globally, as businesses and individuals are able to absorb the pressure of economical pandemic.
Different coin are being launched on a regularly bases, giving opportunity to those who are ready to liberate themselves from the pressure of inflation.
Crypto won't make us the richest man/woman in the world, but it will help us in surviving during economical crisis.
Checkmating
The checkmating process requires caution and great thinking, as so many people has lost their stance in the crypto verse due to spending in economical crisis.
The idea of spending from the crypto currency we have accumulated, is to assist us in acquiring what is most important. This is a way of checkmating the inflation.
But it is expected of us to make proper plans on how to replace those assets we've spend, since we know that crypto changes in price.
Unlike fiat currency that doesn't change in price even when we make a replacement for the already spent once.
Replacing the used assets is like a checkmate within a checkmate, as it gives room for more accumulation which can be a saving grace in time of need.
My Opinion and Conclusion
The idea of checkmating economical crisis feels like a common sense, but the common sense can only be applied when we make use of a currency that appreciates in value with time, and that currency can only be crypto currency.
Most day-to-day jobs don't even pay what is relative to the current inflation price of goods, which makes fiat currencies less powerful in maintaining authority over this goods.
Our hope falls on crypto, and those who take full opportunity and responsibility can overcome the pandemic of a bad economic.
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