EPISODE 4: From Escudo to Dollar, What is next for Money? with Jonny Fry
BlockSpeak 4 is all about money. When it comes to money, everybody has an opinion on what it is, what it was and what it may turn out to be. Is money value, is currency value, what is currency, what is value?
For those students who may have excellent qualifications in subjects such as sciences, languages or Classics, there are many more who did not receive a single lesson in how money works. The closest many got was ‘home economics’ and that was nebulous at best.
In this informative episode of BlockSpeak, Teamblockchain CEO Jonny Fry not only lays out the case for a blockchain and crypto future, he also gives listeners a crash-course in the power of money and which currencies have held sway over the past 500 years.
According to Fry, we are currently in the time of Dollar and that time may be coming to an end because Fry surmises that the most powerful global currency generally rules the world for 100 years before it is superseded by a new scion.
Before the dollar, the UK Pound was the prevailing wind. The British Empire enabled the UK to be the currency of choice until the end of World War I, when America went into the ascendant.
A century before it was the French Franc, 100 years earlier it was the Dutch guilder and before that the Escudo (Portugal/Spain). As the dollar potentially reaches the end of its ubiquity, what lies head?
Some may some that China’s new digital currency may be the winner, it may even be the incumbent fiat currency of the Yuan/Remnibi or it might just be Bitcoin, only ten years old, but beginning to take centre stage on the, er, world stage.
Fry knows his history, if not the future and BlockSpeak 4, rather like BlockSpeak 3 before it, is an episode to take notes and learn what they didn’t teach at school.
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