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Cryptocurrency is actually terrible for battling inflation, data shows

The Next Web Monday, 10 September 2018
Cryptocurrency is actually terrible for battling inflation, data showsCryptocurrency is often floated as a failsafe for floundering economies. When faced with economic instability, blockchain evangelists are often quick to prescribe Bitcoin (or some other altcoin) as a means of alleviating hyperinflation by being more stable than the local currency. But which is best suited for the task? Turns out, it’s none of them. According to data from blockchain research unit Diar, no cryptocurrency wields the power to pull nations out of financial turmoil. Indeed, most coins – even established ones like DASH and Litecoin – suffer from arbitrary supply inflation or massive degradation in purchasing power. This means that…

This story continues at The Next Web

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