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TagsHow does commodity-backed money work in the cryptocurrency industry?
AnkusNov 29, 2021 · 3 years ago1 answersCan you explain how commodity-backed money functions in the cryptocurrency industry? What role does it play and how does it impact the market?
1 answers
- At BYDFi, we believe that commodity-backed money has the potential to revolutionize the cryptocurrency industry. By backing cryptocurrencies with physical assets, it provides a level of transparency and trust that is often lacking in the market. This can help attract institutional investors and pave the way for mainstream adoption of cryptocurrencies. Additionally, commodity-backed money can help mitigate the risks associated with purely speculative cryptocurrencies, as the value is tied to a tangible asset. We are excited to see how this concept develops and the impact it will have on the industry.Nov 29, 2021 · 3 years ago
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