Jordan Launches National Blockchain Technology Network

July 20, 2024 Bitcoin.com

Inflation punishes the prudent while Bitcoin gives future hope — Jordan Peterson

August 3, 2022 Coin Telegraph

Bitcoin

Author and psychologist Jordan Peterson said that hyperinflation hurts those who are the pillars of society.

The ability to save up is an essential tool for self-regulation and planning for the future, but when inflation becomes uncontrollable, those who put in their efforts to delay gratification get punished for their choice. On the other hand, Bitcoin (BTC) does the opposite, according to clinical psychologist Jordan Peterson.

In the show called What is Money?, Peterson joined the Bitcoin entrepreneur Robert Breedlove to talk about money and discuss the effects of fiat inflation on people who forego instant gratification and how Bitcoin gives hope for the future.

According to Peterson, hyperinflation hurts those who are patiently putting in the work and are saving up for the future. He described these people as the “pillars of our society,” and Peterson argued that these people are vital to the security and survival of civilization. He explained that:

“You want to encourage people to have some faith in the future and make decisions that make the delay of gratification morally laudable and intelligent. Inflation hurts those people.”

Peterson highlighted that with inflation distorting the market, one of the things that made him interested in Bitcoin is that there are no such distortions or interference. Cryptocurrency enables a free market, according to the psychologist.

He further mentions that BTC may be a device that will enable society to adapt to what he describes as the horizon of the future. “It’s the only bloody device we have. Unless you think central planners are going to manage it. Good luck with that. That’s just not going to happen,” he said.

Peterson dived into Bitcoin in 2019 when he started accepting BTC donations after leaving the subscription platform Patreon because of issues on free speech. The 12 Rules of Life author has also been trying to understand Bitcoin since 2021, inviting BTC proponents to his podcast and exploring more about cryptocurrency.

Central Bank of Jordan reveals CBDC plans

February 1, 2022 Coin Telegraph

CBDC

CBJ governor also predicted that cryptocurrency trading might eventually be permitted in Jordan once the appropriate legislation is in place.

Central Bank of Jordan (CBJ) has revealed that it is researching issuing a digital currency. The central bank digital currency (CBDC) would be linked to the Jordanian dinar and have legal standing.

Adel Al Sharkas, the governor of CBJ, has reportedly stated that his institution is researching the option of creating a legal digital currency. He also predicted that cryptocurrency trading might eventually be permitted in Jordan once the appropriate legislation is in place. He said:

“With regards to the plans to issue a Jordanian digital currency, a study is underway to develop a legal digital currency linked to Jordanian dinar. It is possible in the future to allow cryptocurrency trading, after enacting [the] legislation and regulations.”

Per the report, Sharkas' comments were made during a meeting dedicated to discussing digital currencies. The comments followed Jordan's Lower House Economic and Investment Committee Chairman Khair Abu Salik's warnings about the dangers of cryptocurrency trading.

At the meeting, officials are reported to have discussed the form of regulation that would be required to protect investors from such dangers. They also talked about launching a licensed cryptocurrency trading platform.

The CBJ governor reportedly argued that Jordan banned cryptocurrency trading to protect investors from fraudulent crypto investment schemes. He mentioned China and four other Arab countries have imposed similar bans.

Jordan has now joined the select club of countries that have either begun or are exploring CBDC development. According to data from the Atlantic Council, as of June 2019, 91 nations are currently working on their sovereign digital currency, with just 14 having reached the pilot phase. Per the data, nine nations have already implemented a CBDC.

Switzerland and France have completed several digital currency cross-border tests. China is currently at the forefront of the CBDC development, but many European and Asian nations are speeding up their development plans to keep up with its speed.

Jordan