Globiance: Breaking free from inflation with crypto adoption

As inflation runs hot and the rising prices of commodities and consumer goods spook people, crypto projects like Globiance are working hard to improve the old financial system with a crypto-based system.

As inflation rages on and the rising prices of commodities and consumer goods scare people, crypto projects like Globiance are working hard to improve the old financial system with a new crypto-based system.

Is inflation spiraling out of control in the European Economic Area? Currencies like the euro and the British pound are showing record weakness. The war in Ukraine is hitting the European economy, already hit by Covid, even harder.

With inflation, consumer goods are getting more expensive. If this economic phenomenon spirals out of control, it could have devastating social and economic consequences.

Individuals and businesses can no longer cover their ongoing costs and go bankrupt. Many financial experts already believe the traditional financial system is a "house of cards" that needs to be replaced with a more effective new system.

So Globiance aims to blend the best of traditional finance with the crypto world. The goal is to create a worldwide digital ecosystem that's cheaper and more targeted than the current financial system. This will be done with distributed ledger technology and blockchain.

Click here to visit the official Globiance homepage.

Inflation can have devastating consequences — there’s a better system needed

The repeating inflation spiral can lead to hyperinflation. An example is Turkey's current situation, where inflation is nearly 85%, the highest in 24 years.

While this isn't exactly the case in Europe, the Bundesbank still forecasts inflation of up to 10% this autumn.

To curb devaluation and ease the squeeze on consumers, central banks like the European Central Bank and the Bank of England raise their key rates. This leads to monetary inflation: borrowing becomes more expensive and a weak economy is expected to rebound.

But how much and how long these central bank measures will work is unclear. Is this really saving the exchange rate or postponing a looming problem until it finally explodes?

Because record debts and inflation figures threaten to get out of hand. It's important to know that users can hedge against inflation and that companies like Globiance are hard at work worldwide to improve the old system.

Crypto adoption: a response to the inflation crisis

On the other hand, interest-bearing investments become much more valuable due to inflation. There are asset classes seen as a hedge against inflation. These are mainly tangible assets like gold and other precious metals, stocks, and real estate.

And cryptocurrencies: experts believe they’ll play a key role on the path to a new, better financial system and a better society. So expanding exposure to various cryptocurrencies in a portfolio makes sense to boost yield while cutting risk.

Because the market agrees: crypto is here to stay. Reliable exposure to Bitcoin and other major cryptocurrencies is now mainstream (e.g., crypto ETPs and via regulated crypto exchanges like Globiance). So Globiance wants to combine the best of today’s financial world with the crypto and blockchain space.

Globiance's mission: improving the existing financial system through crypto

Globiance is a full bank and exchange platform. The platform includes payment interfaces, banking services, stablecoins, and centralized trading platforms. The GBEX token is Globiance’s native token and even has staking features, up to 10% APR.

Globiance offers various payment options and services for individuals and businesses and has offices in 13 countries on 5 continents. Globiance’s personal bank or debit card is an effective way to access your cryptocurrencies, shop, make transactions, or pay directly with GBEX tokens, crypto, or fiat.

The tech complies with ISO-20022 and even offers compliant tools. There’s a strong emphasis on rewarding GBEX holders with GBEX tokens through various options and features.

The Globiance platform runs on the XDC network. It’s a fourth-generation blockchain using fast, military-grade security software. It’s lightning-fast, with minimal confirmation times and almost zero transaction fees.

The GBEX token can be bought on the Globiance decentralized exchange, the European Globiance platform and 13 other Globiance platforms worldwide, or on the following exchanges: Probit, Bitrue, Bitsmart, SWFT, and Lbank.