There is no doubt crypto currency technology cooperative nature will be reflected in its impact on the Economy.
How much big on an impact will this technology have on low and middle class households? @APompliano
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Disruptive technology, ofcourse.. I really dont like when people make predictions on this technology, but we are definitely in the exciting times where block chain start ups will really break through and start making dramatic changes..
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Replying to @Ulwazie @APompliano
There exists something called the Cantillon Effect, first described by an Irish-French economist Richard Cantillon. This effect describes the phenomenon when newly printed money benefits those closest to the source - the government itself and the wealthy financiers
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who have access to government credit the earliest. By the time the market realizes that there is more money in circulation, inflation occurs. Obviously this hurts the poor and benefits the rich, as the former have fixed salaries and the latter invest in real assets.
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Inflation disproportionately hurts the poor and is one of several reasons why the rich get richer and the poor get poorer. If governments no longer have a monopoly on the money supply this arbitrary creation of money is no longer possible.
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Thus, the poor’s savings can be protected from arbitrary debasement. This doesn’t eliminate all inequality, nor should that even be the goal, but it allows anybody to save the fruits of their labor and accumulate capital across time...
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... something that is not an easy thing to do in a low-risk manner today.
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