Bretton Woods 2.0 is knocking at our door, and it’s not here to help By Cointelegraph

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Bretton Woods 2.0 is knocking at our door, and it’s not here to help

Barely 100 years ago at the start of the 20th century, people were able to exchange dollars for gold at their local bank. While gold was too hard to trade between people, banking institutions held gold and gave people cash for it. This was during what was known as the gold standard. Each sovereign currency’s value was determined relative to a fixed amount of gold. However, in the decades ahead, that standard quickly changed.

Toward the end of World War II, dozens of powerful people organized a meeting to discuss a new monetary agreement designed to minimize the economic damage done by the war. This meeting was named after the location where it took place: Bretton Woods, New Hampshire, in the United States.

Charlie Shrem was an early entrepreneur and has been a founding member of the Bitcoin Foundation since 2012, serving as vice chairman from 2012 to 2014. He is best known for founding BitInstant in 2011, one of the first platforms to buy Bitcoin. Starting in 2014, he spent two years in prison for operating an unlicensed money transmission business. Since then, Shrem has served as chief operating officer of Decentral, which developed the cryptocurrency wallet Jaxx, and founded Crypto.IQ. He currently hosts the podcast Untold Stories where he interviews crypto industry leaders.