STANDARTA: stable cryptocurrency
Savings
People can collect and hold savings for decades and people have to be sure that the
purchasing power of the savings is not declining over time, allowing them to buy in fifty
years, at least the same amount of goods and services that money can buy today. More than
90% of the world population spend almost all money they earn on daily consumption and
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forced to make savings in the event of loss of job, household emergencies or health issues
etc. Even to buy a TV, a car or make another purchase is sometimes difficult without the use
of savings. In such BRICS countries as the Russian Federation or Brazil, inflation can be
high, and the rate of national currency can change overnight, as happened in December
2014 in Russia. This quickly devalues savings.
BRICS countries are no exception, inflation and other factors lead to a decrease in the
purchasing power of fiat currencies and to increase in the cost of living throughout the world.
In developed countries, the change in the purchasing power of fiat money is reflected by the
consumer price index (CPI). As can be seen from the Eurostat data, in the euro area over
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the past 10 years the average cost of living increased by 1.24 times. Cost of living is rapidly
rising in the US, where over the past 33 years the cost of living has increased 2.46 times.
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