| | | Trusted by over 100,000 blockchain investors. |
|
| HEALTH, WEALTH, AND HAPPINESS |
| |
Hi Everyone,
We'd like to start out today by making a small correction. In fact, yesterday's newsletter broke a record in terms of the number of people who replied, and that was of course due to the poor choice of words used in the title "Dutch Negative Money."
In fact, the particular bank we were speaking about was the financial institution Danske Bank, which is Danish and not Dutch.
Most Americans can easily get away with such geographic faux pas, but I really have no excuse.
Further, it has been pointed out that negative interest rates in that part of the world are already considered standard operating procedure for accounts above €100,000, and Danske bank was simply lowering the limbo stick.
We can only expect the stick to keep getting lower as the music plays on.
It's not that it's the bank's fault, per se. The European Central Bank has been experimenting with negative interest rates, a policy that incentivizes borrowing while punishing savers, for nearly seven years, and it's only going deeper. |
|
As one reader wrote me recently, and I'm paraphrasing here, the fiat system is designed to promote consumption at all costs, whereas people who hodl bitcoin are incentivized to delay consumption.
This is the kind of business-unfriendly dynamic that politicians and bankers probably won't ever knowingly implement, but I believe the world could use a lot more of it. |
|
Ethiopian experiment
It's no secret that I've personally been a Cardano skeptic.
The digital asset's price has been outperforming nearly every large-cap cryptocurrency throughout this bull run, with a total gain of 615% so far this year.
It has done all this with very little evidence of real-world adoption, or even much near-term expectation that such use cases would materialize.
Well, that just changed. ... |
|
It's not like Ethiopia is the biggest nation in need of an education on the blockchain, but it does seem like an excellent place to start.
The plan is to put the records of five million students on the blockchain using IOHK's Atala PRISM ID system and use the data to single out underachievement, as well as the variables causing it, in order to increase academic performance across the nation.
It's easy to see how this is also a great beta test for rolling out identification records on the blockchain.
The price of Cardano's ADA token doesn't seem to have changed much (relative to the rest of the market) since the news broke.
The reason for that is likely that fans of Cardano have already been pricing in the anticipation of much larger achievements that have not yet come to fruition. Certainly, if this project goes well, there will be a lot more to look forward to.
Many thanks to everyone who reads to the end. You all rock!
Best regards, |
|
Mati Greenspan Analysis, Advisory, Money Management |
|
|
|
|
|
|
