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Monopoly of sovereign issuance of money is 'clearly over' - RT's Boom Bust

Monopoly of sovereign issuance of money is 'clearly over' - RT's Boom Bust
The world could be potentially on the brink of another financial crisis, but the rise of cryptocurrencies could become a hedge against recession, according to Nolan Bauerle, Director of Research at Coindesk.

He talks to Boom Bust about the future of crypto, saying that "A lot of bitcoin people have been talking about this exact scenario since 2010."

There was a private issuance of money before the Federal Reserve was established in 1912 when companies and banks issued their own currencies, Bauerle says.

He explains that "The monopoly of sovereign issuance of money is clearly over," and that private issuance of money "is here again."

"We are experiencing troubles of private issuance of money while there's a lot of volatility but that's kind of normal for now. I don't think anyone kind of really dislikes the volatility of bitcoin, it's quite fun…"

For more stories on economy & finance visit RT's business section