Beyond Blockchain: The Death of the Dollar and the Rise of Digital Currency by Erik Townsend

Author:Erik Townsend [Townsend, Erik]
Language: eng
Format: epub
Published: 2018-11-15T00:00:00+00:00

Conclusion

Sovereign bonds are used for special purposes in the financial system, in particular the role they play as a central bank reserve asset. The reasons this is going to be so important to the digital currency story will be made clear in coming chapters.

Chapter 13:

Reserve Currency Status

The phrase reserve currency refers to the dominant currency in the global financial system. While it’s technically possible for multiple currencies to serve in this role simultaneously, for most of monetary history the title of global reserve currency has been held by one currency at a time. The exceptions are transition phases when one reserve currency is falling out of favor and another is taking over.

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