Inflation is here. This is the fastest core inflation we have seen in nearly 30 years, according to Forbes. According to CNBC, it is continuing to rise.
But how can we combat it?
Venezuela has hyperinflation, and this is what they are trying to do to beat it: Venezuela has fully embraced cryptocurrency and adopted Bitcoin as a national currency / legal tender.
We believe this is the right step forward, which is why PR Distribution™ is accepting cryptocurrency for our clients.
Benefits of Cryptocurrency and DeFi (decentralized finance)
- Removes the need to trust a bank and jump through hoops to use your money
- Gives people in developing markets access to financial options that aren’t available to them
- Consumers can pay merchants directly, without the need of paying intermediaries such as VISA, Mastercard, American Express, PayPal, etc. (who charge a 2% to 3% transaction fee to the business that ultimately gets passed down to the customer in the form of a higher price markups to make up for the fee).
- Faster transactions. Cryptocurrency transactions happen in hours or minutes; no more waiting 2-3 business days for transfers to settle with traditional banks.
- Think of smart contracts as programmable money. Smart contracts, in our opinion, will revolutionize industries including insurance, banking, medical record keeping, real estate, etc.
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