US, WASHINGTON (ORDO NEWS) — Coinbase CEO Brian Armstrong believes that coronavirus not only posed a health risk to cash holders, but also increased the risks of losing its purchasing power.
In one tweet, he provided a link to an article in Project Syndicate on the unhygienic nature of coins and banknotes. Chinese authorities disinfect and destroy fiat with traces of COVID-19. The Fed introduced a quarantine for cash dollars from Asia and Europe as a precautionary measure for ten days.
We're working hard to make it easier for people to use global, inflation proof, digital payments with crypto!
Passing paper currency and coins between people has never been hygienic.https://t.co/fgzB688yaC
— Brian Armstrong (@brian_armstrong) March 19, 2020
In a second tweet, CEO Coinbase talked about the risks of inflation, hinting at unprecedented measures by leading central banks to prevent further market collapse.
Most peer to peer payment apps today are U.S. only and fiat currencies are going to lose their value more quickly with upcoming inflation.
It's time for the world to have a global payment system based on sound money.
— Brian Armstrong (@brian_armstrong) March 19, 2020
“The time has come for the world to receive a global payment system based on hard currency,” Armstrong wrote.
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