DEV Community

Discussion on: Do you know of any effective Blockchain use cases?

pajasevi profile image
Pavel Ševčík

False. Currencies were not backed by central authority before the decline of golden standard in 20th century. Before that, every bank note and every coin was exchangable for a piece of gold if the currency was based on gold standard. No central banks existed! Also no hyperinflations... Fiat is the largest scam ever made.