HERMAN BEZUIDENHOUT: Still too cryptic to oust even the humble rand
The global economy remains anchored in conventional fiat money — but as digital finance evolves, the debate over crypto’s role will intensify
For more than a century, global trade and finance have relied on traditional currencies — fiat money issued and regulated by central banks. These currencies, whether the dollar, euro, sterling or yen, form the backbone of international commerce, enabling seamless transactions through such networks as SWIFT.
Enter cryptocurrencies. Over the past decade, they have evolved from a niche experiment to a trillion-dollar asset class. Bitcoin, ethereum and countless others have disrupted finance, promising decentralisation, efficiency and borderless transactions. Yet, despite their growth, global trade and investment still overwhelmingly rely on traditional banking systems and fiat currencies...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.