(taken from Globcoin's blog)
"To successfully manage wealth over the long term, we need to think deeply about the economic function of money, particularly as a store of value but also as a medium of payment and a unit of account. We also need to adopt a more holistic approach to risk, heeding the lessons of economic history: No currency, in particular no fiat currency, has survived the test of time over the very long term.
With wealthy families becoming more and more global and the world becoming multipolar (or apolar), the notion of a single reference currency is too simplistic. Sticking to it means failing to manage currency risk and potentially incurring adverse long-term outcomes.
The solution is a diversified currency basket, with weights corresponding to the currency composition of liabilities and financial objectives. Each family must decide how best to manage its wealth and its own diversification plans."
The original article is targetting wealthy families and such, but the concept can really be applied to all. Their platform will enable the launch of customised currency baskets for a variety of uses.
Topic: The "currency basket" approach (Read 114 times)
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