Similarly, when the money supply is increased at an alarming rate, citizens have more money to essentially purchase the same amount of goods. This causes the price of goods to rise at an unsustainable rate causing hyperinflation. An ideal example of this is when Zimbabwe printed its way into an economic disaster in 2008, the effects of which can be felt to date.
Now, an interesting situation arises where the general population wants to secure their money’s value while still maintaining liquidity. This brings us to the involvement of stablecoins as a hedge for inflation.Stablecoins can be the answer for those wanting to retain their money’s value while still having the ability to transact on a daily basis. Since their prices are stable, they can be used as a credible.
Citizens of Turkey or Argentina could have maintained their value of money by investing in stablecoins during inflationary times. Not only do they retain their purchasing power, but they are also one step closer to accessing decentralized financial services. With DeFi growing its wings across lending, insurance, gaming and more, stablecoins and DeFi can essentially replace certain services in the fiat and banking sector.
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