The Hayek World Currency can be used to serve various purposes:
The HWC is specifically developed for transactional purposes, not speculative. The HWC can be adopted for cross-border-payment activities or as a complementary currency for domestic payments alongside regular money. The HWC holds real world utility for trading, selling, buying, saving or spending as a one-for-all currency regardless of place and time.
- Universal way to exchange value.
The HWC can coveniently be used as a stable payment medium and just like any traditional currency without losing purchasing power and without relying on third parties responsible for any underlying assets or collateral obligations. This in contrast to fiat money which became much more than just a medium of exchange. It created a false identity by withdrawing from the essence.
- Digital medium to store value.
The HWC can be used universally as a safe-haven asset and a hedge against inflation, deflation, or currency devalution. The HWC can therefore be considered to be the equivalent or even a better version of gold given that it’s easy to store and easy to pass on, divisible, portable and impossible to counterfeit as the records on the ledger are immutable. -
The Hayek as unit of account.
The HWC provides an ideal alternative to the existing set of payment methods and currencies in the world including CBDC’s. As a practical currency, the HWC inherently ensures a more neutral and accurate way for pricing goods, services or commodities as it is respectively not tied to a specific economy and its value cannot be eroded by inflation and excessive money printing whether cash or non cash.
- Perfect way to ensure financial inclusion.
The HWC enables equitable acces to and usage of vital financial services by disadvantaged groups of society. The HWC can be easily purchased from anywhere in the world if there is access to the internet. This also includes the estimated 1.4 billion unbanked people who lack acces to the traditional financial system. Not to mention, more than 3 billion underserved people who do not qualify to take out a loan from a traditional bank due to their social or educational background or financial status.