A few days ago the IMF released a significant video outlining the need for a new Bretton Woods Moment that will redefine the global economic structure for the foreseeable future.
The previous Bretton Woods agreement which was signed into being in 1944 established the US Dollar as the world's reserve currency and set up the global economic system that the majority of people today have always known. According to the IMF, a refresh of Bretton Woods is needed due to the economic devastation caused by the Covid-19 outbreak, but any long term crypto proponent knows the problems we face started long before 2020. But regardless of the reason, any change from the current system, which would entail a move away from the US dollar as the reserve currency, looks to be decidedly bullish for Bitcoin and the cryptocurrency space in general.
In other developments, the Stellar blockchain (XLM) has received future validation after it was chosen by the Centre consortium to become the next blockchain to support the USDC stablecoin. This makes the third blockchain that USDC is now supported on, along with Ethereum and Algorand, and the rapidly growing project continues to expand as it looks to rival the current controversial stablecoin King USDT.
Chainlink continues to expand its integrations and ensure that it becomes an indispensable part of the blockchain ecosystem. Most recently, LINK has partnered with the blockchain-based Wikipedia competitor Eveipedia to record, validate and verify the upcoming U.S. election results.
I finish up the video discussing some of my favorite crypto projects that have been performing well lately including Theta ($THETA), UMA ($UMA), Elrond ($ERD), and Ocean protocol ($OCEAN).
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