Blockchain for Business 2019

The beginning of the economic crisis

Since the dissolution of the Bretton Woods agreement in 1971 and the introduction of the modern fiat currency system, the world entered a new era of mostly freely fluctuating foreign exchange rates. National central banks started to implement various monetary policies to manage money supply in their respective economies. Monetary policy objectives may have had various nuances around the world, but a common, widely accepted theme has been inflation targeting. This is done in order to provide healthy, stable, low inflation rates, facilitating sustained economic growth. By targeting low inflation rates, central banks around the world aim to create stable economic conditions, providing the right incentives ...