RELX – A Platform Currency that Addresses Worth and Abundance in a Decentralized Economy
Decentralization is the way to go now that cryptocurrencies have exposed most of the inadequacies of the traditional financial system.
Today, we need more than just third parties and lags in transactions to make it to the next stage of the global financial expansion.
What we now need is a decentralized economy that features a decentralized way of doing business – and a decentralized currency.
As institutional investors, such as Grayscale are looking into the opportunities in the cryptocurrency industry, it would be a worthy time to introduce new products and services.
I am happy to see that Reed Elsevier is taking a lead in that aspect following the launch of its native cryptocurrency called the Reed Elsevier Coin (RELX).
I write this article to help you understand some of the ways that RELX would address the worth and abundance in a decentralized economy, so that everybody will have something to benefit from it.
The first thing that the Reed Elsevier Coin (RELX) does is to create a concentrated utility that will be based on cryptocurrencies.
The idea is to ensure that the users and the early investors in the coin will be a part of the burgeoning decentralized economy that would be created by the coin.
In the long-run, we are looking at the further decentralization of the Reed Elsevier Coin ecosystem so that more utilities and use cases can be mapped for bolstering the relationship among the users and investors of the coin.
RELX as a Platform Currency
One cause for concern is the fact that the Reed Elsevier Coin (RELX) is designated to be a cryptocurrency for one platform. And that platform is the Reed Elsevier, which is the parent company backing the project.
While that may seem a bit centralized, it is actually meant to benefit the users. By the designation as a platform currency, the Reed Elsevier Coin will majorly be used for any financial transaction in the broader Reed Elsevier ecosystem. This includes payments for products and services offered by the parent company.
I am also of the view that the founders of the Reed Elsevier Coin may consider some other related use cases, such as using the coin to pay their employees, as well as incentivizing or rewarding the staff or employees that are outstanding in their duties.
Those and many more use cases will back the fundamentals for this coin.
Non-Inflationary DeFi Ecosystem
The team behind Reed Elsevier Coin understands that the Decentralized Finance (DeFi) ecosystem can sometimes, be manipulated.
That informs the reason for the open business platform operated by Reed Elsevier Coin as a way of ensuring that the inflationary tendencies of the coin are not in place.
Last but not least – the Reed Elsevier Coin is also available for investors who are either looking for long-term investment opportunities in the crypto space, or who are looking for social investments.
The Reed Elsevier Coin offers that via the yield-creating ventures for investors who HODL the coin for many months of years.
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