The Intrisic Power behind YEM Currency and the Future of Money.
By Fxkabbs aka John- "YEM Holder"
“The power to create money is a power that should be held by the people, not by a central bank.”
Digital currency refers to any means of payment that exists in a purely electronic form. Digital money is not physically tangible like a dollar bill or a coin. It is accounted for and transferred using online systems.
A variant of digital money already exists in society today in the form of cash held in online bank accounts. This digital cash can be sent to others or received from them, and it can also be used for online transactions. To facilitate these transactions, a central authority must maintain a centralized ledger to record the transactions and update each individual bank account.
YEM CURRENCY: Transparent, Security & Privacy, Centralized and Decentralized.
A group of people under Yem Foundation created YEM Currency as an open-source project outlined in a white paper titled “Rainbow Currency".
A Peer-to-Peer Electronic Cash System.” This revolutionary centralized and decentralized digital currency, entirely digital, aimed to solve the double-spending problem without relying on a central authority.
YEM’s transparency, security & privacy, centralized and decentralized nature set it apart from traditional banking systems and other existing crypto currencies.
In the history of monetary history, the gold standard stands as a testament to the link between currency and a tangible asset. This meant that the government or central bank had to hold a corresponding amount of gold to the currency in circulation. After 1971, Fiat money is currency that has not been backed by a physical commodity like gold but rather has derived its value from the trust and confidence people have in the issuing government.
Fiat money, the government-decreed currency, comes with its share of complexities. The power vested in centralized entities opens the door to corruption, mismanagement, and control over the financial destinies of individuals.
*BUY YEM, HOLD YEM*
This article does not constitute investment advice, nor is it an invitation to purchase any crypto assets :) but for education & information purposes.
February 17, 2025 - BY Admin