Blockchain-powered Global Reserve Currency
Today’s financial world runs on fiat currencies that, as history has shown, lose their value over time. They have no intrinsic value of their own and can be unilaterally printed by the issuing authority with no care for the loss of value suffered by those who hold the currency in question. Even worse, this authority has the power to prevent individuals from participating in the economy.
Blockchain technology has provided the tools to create a medium of exchange that has all of the benefits of fiat currency with none of its drawbacks. It also enables the creation of financial systems that are inherently inclusive. On this note, we discuss our solution – AXIA Coin and the AXIA Ecosystem.
First, we need to take a few steps back to understand how the current financial system came to be. This will help us understand the potential in AXIA Coin and the connected AXIA Ecosystem to create a new, equitable, and inclusionary economic model on a global scale.
A Brief History of Money
Money is a medium of exchange. It is something you can accept in return for something you have and, in turn, exchange it again for something you need. This type of economic activity evolved from the barter system – the trading of goods for goods – to the trading of precious metals such as gold and silver for goods and services, to the use of fiat currencies as the accepted medium of exchange between people, businesses, and countries.
Every new stage in the evolution of money was designed to address the issues and remove the shortcomings that the previous form of money had. Barter was no good unless you found someone who had what you wanted and wanted what you had. Gold and silver are heavy, cannot be easily broken down into smaller units, and are difficult to transact with. The US dollar was pegged to gold and therefore was linked to intrinsic value, but the gold standard was eventually abandoned to allow the US government to pump money into the economy and combat the Great Depression.
Today, the US money supply is controlled by the Federal Reserve, which is a private cartel of bankers that have the power to create our money. If the Federal Reserve or the central bank of any country wants to expand the money supply, all it has to do is print the money it needs. We’ve seen this with economic stimulus packages introduced worldwide in response to the COVID-19 pandemic, but such policies cause money in circulation to lose its value.
Blockchain and Digital Currencies
With the power of blockchain, we’ve seen the introduction of various digital currency-type projects that promote themselves as mediums of exchange, such as Bitcoin, stablecoins, and others that purport to combat the issues of centralization, devaluation, and inflation faced by fiat currencies that are issued by banks and governments. However, stablecoins are just digital versions of the fiat currencies they are pegged to. Other forms of exchange, such as Bitcoin, may be decentralized and secure but they derive much of their value from speculation and market perception which can change by the minute.
Introducing the AXIA Project
AXIA Coin aims to provide people all around the world with the benefits of fiat currencies without any of its drawbacks. It also delivers all the benefits of digital, blockchain-powered currencies without the speculation and volatility that have long been a key driver of the value of today’s most popular cryptocurrencies.
As the asset-supported global currency, AXIA uses blockchain technology and smart contract connected logic to provide participants with safe, secure, transparent, and low-cost transacting. More so, it is designed to create an equitable and inclusionary economic model on a global scale that transfers the benefits of participation to members of the community itself, instead of banks, large organizations, and governments that stand to gain the most – at the least risk – in the current financial system.
The AXIA Ecosystem
AXIA Coin can be used to make payments, facilitate exchange, power new applications, and much more. Its unique design based on smart contracts can be used to replace dedicated loyalty point programs, fuel the non-profit sector, reward information sharing communities, be seamlessly integrated into communications applications, and become the dedicated currency of online marketplaces.
What is special about this solution is that the suite of applications, businesses, and organizations that are connected to the AXIA Ecosystem are in place to deliver significant value to the community. Here, users benefit from their own decentralized activity and at the same time provide positive social impact opportunities that can cascade to people around the world. These communities often represent people that have been underserved by the current financial system.
In the coming weeks we will introduce and explain all the key elements of the AXIA Ecosystem and open up a dialogue with AXIA users. We will post in-depth articles on the AXIA Transaction Link, the AXIA Dual Blockchain Design, AXIA Capital Bank and it’s connected AXIA Wallet, the AXIA Rewards Platform, and much more! We will address how you can transparently access AXIA Network Data and demonstrate how all AXIA connected services are specially designed to deliver direct value to people around the world.
To learn more about our groundbreaking project, please join the AXIA Ecosystem today. Download AXIA mobile applications from Google Play or the App Store and connect to its suite of integrated services.