A gold-backed currency guaranteed by blockchain.
There's controversy over what constitutes a "gold backed currency".
Some say for a currency to truly be "gold backed" requires a lawful guarantee that paper or electronic money can be exchanged for gold. The US dollar had this guarantee printed on it up until the 1970s I believe when that guarantee was removed.
Others claim its sufficient for a currency to be backed by gold reserves like the USA holds in fort knox. The definition of "gold backed" needs clarification.
This would prevent something like the fractional reserve system from occuring again where banks lend out 90% more than what they physically have. Sounds feasible?
There's nothing preventing those demographics with money and influence from lobbying to have false propaganda as standard curriculum instated. This could cause students to be indoctrinated into the view that fractional reserve banking is the best system for everyone.
Few are aware of circumstances and regulation which contributed to the 08' financial crisis. Fewer still could describe what the specific issues were much less how to prevent them in the future. Public consciousness and memory are fickle things.
