fiat currency

“In fact, it's working so fine that 99, this is staggering, I didn't even know this until a couple years ago, 99.9% of money laundering crimes with fiat currency succeed despite the twenty billion dollars annually That financial institutions put toward anti-mon…”

“What keeps most currencies valuable is the belief that, well, two things. The belief that governments will exercise restraint in issuing currency, ah, and the fact that legally you can pay taxes. So if you like, the thing, whole thing is backstopped by, ah, by…”

“We think that cryptocurrency and fiat currency, you know, in other words, old fashioned non-cryptocurrency, they're both going to be used in the metaverse just as they are in the real world.”