Designed To Be The World’s First Blockchain-Powered Global Reserve Currency
Today’s financial world runs on fiat currencies that – history has shown – lose their value over time, 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. 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. In this note, we discuss our solution – AXIA Coin and the AXIA ecosystem.
To understand the potential that AXIA Coin and its connected AXIA ecosystem has to create a new, equitable, and inclusionary economic model on a global scale, we need to take a few steps back to understand how the current financial system came to be.
A Brief History of Money
Money is a medium of exchange. It is something you can accept in exchange for something you have and, in turn, exchange it again for something you need. Economic exchange evolved from the barter system – the trading of goods for goods – to the exchange 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 to 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, and other forms of exchange, such as Bitcoin, though they may be decentralized, transparent, auditable, fair, and secure – 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.
AXIA is the world’s first asset-supported global currency. It uses blockchain technology and smart contract connected logic that provide participants with safe, secure, transparent, and low-cost transacting. 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.
AXIA Connected Ecosystem
AXIA Coins can be used to make payments, facilitate exchange, power new applications, and much more – its unique smart contract powered design can be used to replace dedicated loyalty point programs, fuel the non-profit sector, reward knowledge/information sharing communities, be seamlessly integrated into communications applications; and become the dedicated currency of online marketplaces.
The suite of applications, businesses and organizations that are connected within the AXIA Ecosystem are in place to deliver significant value to the community through decentralized activity and provide positive social impact opportunities that can cascade to people around the world.
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.
Money needs to be stable in value, easy to transact with, decentralized, and immune from the unilateral actions of any single individual or group, whether a cartel, such as the Federal Reserve, a central bank, such as the Bank of England, or otherwise. It should provide quick, easy, and low-cost access to goods and services, and it should help the unbanked, provide value to those who hold it, and equitably distribute the value generated by the system to all participants of the system.
Our monetary systems have come a long way since we used barter, gold and silver for exchange, and fiat currencies and digital tokens have powered progress for a long time now, but it is painfully clear that the current system does not work, and a world of exclusion, volatility, and one-sided benefits cannot possibly last.
With AXIA Coin, we propose a workable solution to address these issues and usher the world into a new world order that is fair, impartial, and enhances value for all those who participate.
To learn more about our groundbreaking project, please join the connected AXIA Ecosystem today. Download the AXIA mobile application from Google Play or the App Store and connect to its suite of connected services