The World Bank Needs to Create a Universal Coin

There are a seemingly endless amount of blockchains, with the latest coming from The Ant Group as they released AntChain for the group’s blockchain based solutions; the World Bank should create a global coin that allows for financial institutions to use the system and exchange local currencies; there’d be no “new” money or mined coins, the only volatility would be the traditional currency exchange flux between the world’s two most used fiat currencies; this would help to accelerate the use of cryptocurrencies around the globe, right now the industry is filled with enthusiasts; Daniel Döderlein, CEO and Founder of Auka, writes in Forbes, “I might be naive and I’m open to hearing otherwise but I honestly believe it’s that simple. If we’re truly looking for a digital way for money to be exchanged between parties across a public ledger, the solution exists, but it has little commercial value to powerful stakeholders, so that’s why it’s not materialised.” Forbes.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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