According to veteran trader Peter Brandt, the United States dollar has lost over 90% of its value since the 1950s due to inflation.
Harvard students and alumni have announced the launch of the “New Bretton Woods Project” — an initiative focused on creating Bitcoin-backed stablecoins to combat the global debt crisis.
The project aims to build a Bitcoin (BTC) stablecoin on the Bel2 network — a Bitcoin layer-2 solution — allowing users to retain control of their BTC while simultaneously creating opportunities for lending, borrowing, and stablecoin issuance.
Spokespeople for the initiative explained that the Bel2 infrastructure leverages Bitcoin’s unparalleled security by executing Bitcoin settlements on the main layer and communicating with protocols on Ethereum (ETH) to mint stablecoins.
