Crypto and Dollarization, is it true?

What is Dollarization?

Cryptocurrency and fiat currency such as the Dollar were always meant to coexist. Seeing as Cryptocurrency would help facilitate the transition of our payment system in the digital era but somehow that is not always the case. The Dollar has always been the preferred method of exchange for international trade for over 50 years now and to understand the term Dollarization better we need to rewind our history of money to the Bretton Woods System.

Source: https://www.fxempire.com/forecasts/article/gold-us-dollar-cycles-show-part-ii-688942

How does it relate to crypto?

The Crypto Space has built itself to be a decentralized world that is free from the traditional economy but the link will always be there as we are still not living in the metaverse yet. Most of our day-to-day activities are done using fiat currency and the US Dollar is one of those currencies used frequently as our payment method.

Source: https://news.bitcoin.com/morgan-stanley-strategist-bitcoin-replace-us-dollar-worlds-reserve-currency/

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Nagaya Technologies

NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/