Trending

Stories

Swiss Voters to Decide the Future of“sovereign Money” Concept for the National Finance

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

One of the responses to the 2008 financial crisis is that to decentralize authority which means to take power away from the elites and spread it among regular people who suffered the most and had the least recourse when the economy crashed. Whereas the other response to the crisis has been to give even more power and responsibility to centralized authority and Switzerland’s “sovereign money” referendum well fits into this category.

On Sunday, June 10, Swiss voters will decide whether to support “Vollgeld,” a radical reform aimed at further centralizing financial authority or to axe the fractional-reserve banking system in which banks create money as a way of extending credit, lending out far more than they hold in deposits.

Also Read

The two alternative visions on how to respond to the 2008 financial crisis have been competing for attention and support in the past decade and now it’s time for the Swiss voters to take their ultimate decision. The first strategy has been at the core of the crypto revolution it is the remedy prescribed by both the growing global bitcoin community and the supporters of the small government/low taxes concept, like the followers of the Tea Party movement in the U.S.

Such an initiative would not only centralize money creation at the central bank but also concentrate there the corresponding profits and the decisions on who should or shouldn’t receive loans. The oppositions seek that the referendum is a populist response to the previous financial crisis and with its success, it will also head to another crisis which might spark Brexit-like panic in the country’s huge banking sector.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Expecting this to be an unlikely result it is expected that Swiss citizens will vote for more of the same, until the next crisis. However, Switzerland has become a crypto-friendly jurisdiction, with much more crypto-centric businesses being represented. The country has also set up a crypto valley in the canton of Zug and has been formally considering the possibility to issue a state-backed up with cryptocurrency.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program
Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India POCO C50 Launched in India