Latest news with #hyperinflation
Coin Geek
09-06-2025
- Business
- Coin Geek
BSV blockchain micropayments: Stabilizing economies in crisis
Getting your Trinity Audio player ready... Economic crises, whether sparked by natural disasters, political turmoil, or global pandemics, reveal the vulnerabilities of traditional financial systems. Hyperinflation, currency devaluation, and disrupted banking services often leave populations struggling to access basic necessities, especially in developing economies. BSV, with its highly scalable blockchain and ultra-low-cost micropayments, offers a transformative solution to stabilize economies during such crises. By enabling fast, secure, and inexpensive transactions, BSV supports financial inclusion, streamlines humanitarian aid, and enhances government responses, fostering resilience in vulnerable regions. This article explores how BSV's micropayment capabilities can stabilize economies in crisis, leveraging its technical strengths and real-world applications. The impact of economic crises Economic crises severely disrupt access to essential goods, services, and financial systems. In hyperinflationary scenarios, such as Venezuela's 1.7 million percent inflation rate in 2018, local currencies lose value rapidly, eroding savings and purchasing power. Banking infrastructure often collapses, leaving the unbanked, approximately 1.4 billion people globally, without viable alternatives. Traditional remittance services, vital for many developing economies, become costly, with fees averaging 7% per transaction. These challenges disproportionately harm low-income communities, deepening poverty and inequality. BSV counters these issues with its high-throughput blockchain, which is capable of processing millions of transactions per second at fees as low as $0.00001. Unlike traditional financial systems, BSV operates without intermediaries, ensuring instant, irreversible transactions on an immutable ledger. This makes it ideal for delivering aid, facilitating essential transactions, and restoring economic stability in crisis-affected regions. Micropayments: Empowering the unbanked Financial inclusion is critical for economic stability, and BSV's micropayment capabilities are uniquely positioned to serve the unbanked. Banking services often become inaccessible during crises, forcing reliance on cash or informal networks. BSV's digital wallets, such as RockWallet, require only a smartphone and internet access, enabling anyone to send and receive funds instantly. This is particularly impactful in regions where physical bank branches are unavailable, or currencies are unstable. For instance, in a crisis like Zimbabwe's hyperinflation in the 2000s, BSV could enable individuals to transact in stable-value tokens pegged to assets like the U.S. dollar, bypassing volatile local currencies. Micropayments facilitate small, frequent transactions, such as purchasing food or paying for utilities, without the high fees of traditional systems. This ensures that individuals can meet their daily needs, preserve economic activity, and reduce dependence on unreliable markets. Remittances, which exceed $700 billion annually and are critical for developing economies, also benefit from BSV's low fees. High costs from providers like Western Union (NASDAQ: WU) often erode these funds. BSV's near-zero transaction fees ensure more money reaches recipients, directly supporting families and local economies. For example, a worker in a crisis-hit region could receive $50 from abroad without losing a significant portion of the fees, increasing their ability to afford essentials. Streamlining humanitarian aid Efficient delivery of humanitarian aid is vital during crises, yet traditional systems often face high administrative costs, delays, and fraud risks. BSV's transparent ledger and micropayment system enable direct, trackable transfers to recipients, minimizing intermediaries. Non-profits can distribute micro-donations, as little as a cent, ensuring funds reach those in need quickly and transparently. The Charity Wall platform, built on blockchain technology, illustrates this potential. During the COVID-19 crisis, it facilitated transparent donation flows, allowing donors to track contributions in real time. BSV's scalability supports high volumes of micro-donations, enabling rapid emergency response. In a refugee crisis, for example, aid organizations could send small, frequent payments for food, medicine, or shelter directly to digital wallets, reducing waste and ensuring accountability. BSV's immutable ledger minimizes corruption risks, fostering trust among donors and recipients. Enhancing government response and transparency Governments in crisis often struggle to distribute welfare benefits efficiently due to bureaucratic inefficiencies or fraud. BSV's micropayments enable direct, instant transfers to citizens, bypassing costly intermediaries. In a natural disaster, governments could send micro-stipends for essentials like food or housing directly to digital wallets, ensuring rapid relief. A U.K. pilot project explored blockchain for welfare tracking, demonstrating how transparent ledgers can monitor fund usage while preserving privacy through anonymized data. BSV's scalability makes this approach feasible on a national scale, reducing fraud and administrative costs. Additionally, BSV can stabilize economies by supporting digital currencies or tokens backed by stable assets. In hyperinflationary crises, governments could issue BSV-based tokens pegged to commodities like gold, providing a reliable medium of exchange. This could restore confidence in local economies, encouraging spending and stabilizing markets. Challenges and the path forward Despite its potential, BSV faces challenges in crisis settings. Though increasingly widespread, Internet access remains limited in some regions, requiring infrastructure investment. Digital literacy is another barrier, necessitating education campaigns to teach users how to use blockchain wallets. Regulatory uncertainty may also hinder adoption, as governments may resist decentralized systems. Collaboration between BSV developers, governments, and NGOs is essential to address these issues. Security and privacy are critical considerations. While BSV's ledger is secure, protecting users from scams and ensuring privacy in welfare tracking require robust protocols. Advances in anonymization techniques can help balance transparency with data protection, ensuring regulation compliance. A new foundation for stability BSV's micropayment capabilities provide a powerful tool for stabilizing economies in crisis. By fostering financial inclusion, streamlining humanitarian aid, enhancing government efficiency, and supporting economic participation, BSV addresses the root causes of economic instability. Its low fees, high scalability, and transparent ledger make it a transformative solution for regions where traditional systems falter. BSV offers a blueprint for resilience as economic volatility increases globally, empowering communities to navigate crises with greater security and equity. The future of economic stability lies in decentralized, accessible, and efficient systems—and BSV is paving the way. Watch: Micropayments are what are going to allow people to trust AI title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> Bitcoin SV BSV Blockchain Crisis Digital Wallets Micropayments Remittances
Yahoo
07-06-2025
- Business
- Yahoo
Robert Kiyosaki Warns Hyperinflation Will ‘Wipe Out' Millions
Personal finance author Robert Kiyosaki recently made a bold prediction on X about the state of the American economy. The summary of the prediction is that hyperinflation will be financially devastating to millions of Americans. Another GOBankingRates article discusses hyperinflation, stating that the situation occurs when there's a monthly inflation rate of 50% or more. However, due to the role of the Fed, the American economy has never faced such a situation, even when inflation reached as high as 23% in 1920. Trending Now: For You: Below, we examine Kiyosaki's serious claims and determine their accuracy based on expert insights. 'Hyperinflation is a state of extremely high inflation, typically reaching high double digits or triple digits,' said Marko Bjegovic, macroeconomist and founder of Arkomina Research. Kiyosaki believes everything in the economy will become more expensive, from interest rates for borrowing money to basic necessities. Kiyosaki's reasoning is likely that, with the Fed printing money, in his opinion, this could devalue the American currency and lead to higher inflation. It's safe to say that Kiyosaki believes that inflation will become so exorbitant that the average American consumer will be unable to carry their debt moving forward and will have to declare bankruptcy. Read Next: According to MoneyWise, Kiyosaki isn't a stranger to making bold claims about a possible economic collapse. We reviewed some of these claims in the statement to try to verify their accuracy. Bjegovic said there's nothing to suggest that the U.S. is currently on a path to hyperinflation. 'In that sense, the U.S. has never had hyperinflation since the Fed's inception in 1913,' he added. 'Hyperinflation has been commonly associated with countries experiencing extreme political or economic collapse, such as Weimar Germany (1920s), Zimbabwe (2000s), Venezuela (2010s), and Argentina (2020s).' Since the situation has never occurred in history, it's challenging to expect it to happen this time around. On a similar note, it's worth noting that the current Consumer Price Index (CPI) stood at 2.3% in April, the lowest level since February 2021. While inflation peaked — as reported by CNBC — at 9.1% in June 2022, it never approached the 50% figure required for a hyperinflationary state. With inflation cooling down, it doesn't appear that it will reach double digits anytime soon. Some of Kiyosaki's predictions for future asset prices are extremely bold. For context, the highest price of gold ever peaked at $3,500.05 per ounce on April 22, 2025, according to Investing News Network. Blake Mclaughlin, gold expert and vice president of exploration at Axcap Ventures, said gold's recent surge indicates underlying instability in the economy and that based on current conditions, its upward trend may continue. 'Having exposure to commodities like precious metals is a reasonable hedge for inflation. Generally, physical assets, where supplies cannot be readily or easily manipulated, provide a safe and honest place to invest,' he added. However, no evidence would suggest that gold can reach the value mentioned by Kiyosaki According to Yahoo Finance, iBitcoin hasn't passed $112,000 as of May 30 and silver is hovering around $33. These numbers are far from the substantial numbers shared by Kiyosaki. For bitcoin to go from $110,000 to one million is an extreme stretch and there's no evidence pointing towards this possibility. Upon further investigation, there aren't any other credible experts declaring that bitcoin can go as high as one million. Research shared on Business Insider showed there's only one crypto options trade that has bitcoin hitting $300,000 by the end of June and there's only one platform predicting that the digital asset will hit $200,000 by the end of the year. 'The auction Mr. Kiyosaki mentioned was held by the Treasury and not by the Fed,' Bjegovic said. It's essential to emphasize that the Fed didn't conduct this auction, as that's a crucial fact stated in the announcement. Reuters pointed out that the auction was poorly received, which led to a stock sell-off, with investors concerned about the national debt. However, the article also shared that the 20-year bonds usually see less demand than other maturities and that it wasn't a disaster. While the demand for the $16 billion sale of 20-year bonds was weak, it's also unfair to say that nobody showed up to the auction on May 21. Bjegovic said it went better than feared due to the circumstances at the time (Moody's downgrade, passage of the 'Big Beautiful Bill Act' and wider fiscal deficits). 'Treasury auctions are functioning well (as evidenced by other auctions that followed, like the two-year note this week) and inflation remains relatively low. The contents of Mr. Kiyosaki's post on X have grossly exaggerated both the current situation and what is likely to happen in the future,' Bjegovic explained. While it's important to be cautious about your investing approach, you also don't want to get caught up in the fear-mongering that can be evident on social media. As always, we recommend that you speak with a qualified financial professional before making any important decisions about your funds. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard These Cars May Seem Expensive, but They Rarely Need Repairs Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on Robert Kiyosaki Warns Hyperinflation Will 'Wipe Out' Millions Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
CNA
20-05-2025
- Business
- CNA
Vodafone says Germany will return to growth this year
LONDON :Mobile and broadband provider Vodafone said it expected to return to top-line growth in Germany, its largest market, this year, driving an increase in cash flow after it said it met expectations for the year to end-March on Tuesday. The group, which operates in Europe and Africa, reported adjusted core earnings of 10.9 billion euros, which it said met its 11.0 billion target when hyperinflation in Turkey was taken into account.
Irish Times
19-05-2025
- Health
- Irish Times
HSE says ‘hyperinflation' among factors behind building projects' €26m price rise
'Hyperinflation' is among issues blamed by the Health Service Executive (HSE) for a €26 million increase in costs across nine building projects in recent years. The largest price rise was for a new 98-bed wing of the Mater hospital in Dublin, which ended up costing some €9.75 million more than the sum initially approved. The HSE and the Mater hospital say value for money was achieved with this nine-storey trauma building, which opened in April 2023. The figures, which exclude VAT, were contained in a report submitted to the HSE's audit and risk committee on works contracts greater than €10 million. Set out in the data, which was provided to Social Democrats TD Aidan Farrelly, are projects where the 'agreed final account value' was higher than the 'contract award value approved'. READ MORE A HSE statement said it would not be accurate to describe these projects as over budget because these before and after figures do not match. It said contract figures are 'not a fixed price' and 'provision/contingency is made in the contract for claims where there may be scope changes to the project, service delivery, legislative or socioeconomic issues which may impact on the delivery timelines and the out-turn cost of the project such as inflation, poor weather events, etc'. The approved contract value of the Mater's Rock Wing was €58.5 million. The agreed final account for the construction of the main ward block, several shell and core spaces and subsequent fit out of nine rooms, ended up at €68.25 million. A HSE statement said 'the project was sanctioned in 2020 in direct response to the Covid-19 emergency'. It 'went through an accelerated design and contract award process to ensure the infrastructure was provided as swiftly as possible', the statement said. A post-completion examination indicated contract price rises were 'offset by inflationary cost increases' that would have occurred if the project had not been accelerated, the statement said, adding that this shows the HSE secured 'value for money'. A Mater hospital statement said that 'working closely with its construction and funding partners' it had 'demonstrated good value for money and delivered the Rock Wing on time'. Other projects with increased costs were a radiation oncology building at University Hospital Galway that cost €33.1 million, up €4.16 million from the contract price; a community nursing unit in Nenagh that was up €3.32 million to €18.12 million; and a ward block at Mercy University Hospital , Cork that saw a €2.73 million price rise for a final bill of €22.53 million. A residential care centre in Tuam cost €19.76 million, some €2.38 million more than originally expected, while a critical care unit at Tallaght University Hospital cost €15.74 million, up €2.23 million. The HSE said the average increase across all projects is within 15 per cent of the original contract award, 'which would be within normal contingency expectation for projects of this scale and complexity'. It said the majority of these contracts were carried out 'during a period of hyperinflation in the construction industry'. The HSE said a Government 'relief' under the Office of Government Procurement co-operation framework agreement was applied, which 'entitled contractors to ex-gratia payments to assist in dealing with hyperinflation'. Such payments on these contracts were in the region of €7.5 million, it said. If these ex-gratia payments were excluded the increases are within 10 per cent of the original contract award, it said. A HSE statement said it adheres to strict national and European Union public procurement procedures when undertaking any capital build works. Responding to the figures he received, Mr Farrelly described the situation as 'extremely disappointing'. The TD said he wanted to see 'what the Minister for Public Expenditure brings to the table on curbing financial overruns on capital projects now that infrastructure forms part of that brief'.
Yahoo
11-05-2025
- Business
- Yahoo
Billionaire fund manager has a blunt take on US dollar
Billionaire fund manager Tim Draper has a rather blunt take on the relationship between the US dollar and Bitcoin. "Bitcoin might be worth an infinite amount of USD," Draper posted on X on Apr. 1. Well-known for his VC investments in Tesla, SpaceX, and Twitter, the Draper Associates founder analyzed the historical trajectory of the USD in relation to the south's Confederate Dollar during the American Civil War. Draper said the Confederate Dollar began 1:1 with the USD, but at the end of the war, it ended with 10 million Confederate Dollars to 1 million USD due to hyperinflation. However, as the USD index dips to its "worst start to the year" in 40 years, faith in the USD may decline "much farther" amid escalating geopolitical tensions, Draper warned. "Bitcoin, on the other hand, will continue to have open and transparent record-keeping and be easy to store," the veteran investor bet on the largest cryptocurrency. "Governments are already hedging against this future by holding Bitcoin in their strategic reserves," Draper said, and added that unlike Bitcoin, gold has challenges such as storage, transportation, and payment mode. In the event of a systemic breakdown, one wouldn't want to rush to withdraw cash from the bank or hoard gold in their room, the fund manager warned. Instead, one should keep "enough Bitcoin" to hold their family for six months to a year, he said. "Bitcoin might last a lot longer" if hyperinflation happens, Draper said. As per Kraken's price feed, Bitcoin was trading at $96,792.82 at press time. It exceeded the $97,000 mark on the day after a two-month lull. Meanwhile, gold hit the record high of $3,500 per oz on Apr. 22. It was trading at $3,232.64 at the time of writing. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
