Dispensing with the US-centric financial system
Quick quiz. Suppose you read a headline in the online version of the Wall Street Journal (or NY Times etc) stating that, from now on, US Treasury bonds would be redeemed in crypto. Would your response be
(i) That’s absurd. Either it’s April Fools Day or someone has hacked the website
(ii) That’s unlikely. Surely [1] Wall Street will be able to kill this crazy idea
(iii) That will be tricky. Which cryptocurrencies will be included and what will be the exchange rates?