A Blog by EMURGO: Blockchain Primer, The Path of Cardano’s ADA Towards Sound Money
A blog by EMURGO on “The History of Sound Money”, where they explain what happened in the year of 1971 and the then-current US President Richard Nixon. What followed was a chain of events that would lead to most of the world abandoning its connection to “sound money” - also known as the gold standard - and effectively transitioning into a fiat currency monetary system. Prior to this, a nation’s currency was pegged to a nation’s gold reserves. Read more in their blog how this ties in with Cardano’s ADA and its path towards becoming “Sound Money”.