Bitcoin Cash is set for a network upgrade on May 15 and one of the most discussed improvement proposals is the Cashtokens CHIP. Pro-freedom technologies advocate and software developer, Jason Dreyzehner, believes the upgrade will permit advanced on-chain applications, such as higher-security vaults, decentralized exchanges, and bridged sidechains, making it comparable to ethereum, more scalable, and less expensive. The proposal is viewed by advocates as a significant step towards economic freedom.
China-Led Regional Organization Moving Away from U.S. Dollar
More than half of Eurasia is covered by a China-led regional organization that intends to transition towards settlements in member currencies. The plan is to abandon the U.S. dollar in mutual payments, but participating nations are yet to consider a common currency. The move could potentially lead to the creation of a new global economic order, reducing the U.S.’s dominance, and increasing economic freedom for participating countries.
President Bashar Assad Calls for Abandoning U.S. Dollar in International Settlements
President Bashar Assad of Syria believes that BRICS nations can lead efforts to abandon the U.S. dollar in international settlements. During a meeting with China’s top diplomat for the region, Assad called for the use of the Chinese yuan for cross-border trade. He believes that the abandonment of the U.S. dollar will provide economic freedom and reduce the dominance of the U.S. in international trade.
Ted Cruz Bullish on Bitcoin as a Hedge Against Inflation
United States Senator Ted Cruz remains “incredibly bullish on bitcoin,” describing it as the “alpha in the crypto sphere.” Cruz believes that people are attracted to bitcoin as a hedge against inflation and as an “important check” against government spending. His comments demonstrate the growing acceptance of bitcoin and cryptocurrency as an alternative to traditional financial systems.