Known Fiat Criticisms
Fiatard aims to address several key criticisms of fiat currency, particularly when it comes to long-term savings.
Fixed Supply vs. Inflation:
- Fiat criticism: Central banks can print unlimited amounts of currency, leading to inflation and devaluation over time.
- Fiatard solution: Fiatard has a fixed maximum supply of 21 million Fiatard Tokens making Fiatard deflationary by design and potentially a better store of value long-term.
Decentralization vs. Central Control:
- Fiat criticism: Central banks and governments have full control over fiat currency supply and policies.
- Fiatard solution: Fiatard is based on Solana’s decentralized network which is not controlled by any single entity, giving Fiatard users more autonomy over their savings.
Transparency vs. Opacity:
- Fiat criticism: Monetary policies and money creation processes can be opaque.
- Fiatard solution: Fiatard’s transparent, public ledger allow anyone to verify transactions and total supply.
Global Access vs. Geographic Restrictions:
- Fiat criticism: International transfers can be slow, expensive, and subject to restrictions.
- Fiatard solution: Fiatard is borderless by nature, allowing for easier global transactions and savings storage.
Protection Against Confiscation:
- Fiat criticism: Governments can freeze bank accounts or implement capital controls.
- Fiatard solution: With proper security measures, Fiatard Tokens can be more resistant to confiscation.
Hedge Against Economic Instability:
- Fiat criticism: National currencies are vulnerable to local economic crises.
- Fiatard solution: Fiatard is a global asset not tied to any single economy. Fiatard can serve as potential hedges against any fiat currency.
Financial Doublespeak:
- Fiat criticism: Central banks and governments may use doublespeak to obscure monetary policies.
- Fiatard solution: By providing a transparent alternative, Fiatard’s mission is to expose and counteract financial doublespeak.
Long-term Store of Value:
- Fiat criticism: Fiat currencies lose purchasing power over time due to inflation.
- Fiatard solution: Fiatard’s fixed supply and potential for appreciation makes it a great alternative for long-term savings.
Financial Inclusion:
- Fiat criticism: Traditional banking systems exclude many people globally.
- Fiatard solution: Fiatard includes everybody! Anyone with internet access can participate. Fiatard is a Global Finite Digital Asset For All Mankind.
Resistance to Manipulation:
- Fiat criticism: Fiat currencies can be manipulated through monetary policies.
- Fiatard solution: Fiatard’s decentralized nature and fixed supply makes it resistant to manipulation. Fiatard’s Tokenomics are enforced by an immutable contract which eliminates counterparty manipultion.
It’s important to note that while Fiatard Token aims to address these issues, it has its own set of risks and challenges, including price volatility, demand and regulatory uncertainties.