Inflation is becoming more and more relevant to current global conditions, as the world enters a recession that many believe is the deepest since World War II. The effect of inflation on us reduces the value of our possessions, which reduces the purchasing power of our money.
An example of inflation is that in 1913 one dollar had the same purchasing power as $27.58 today. Nowadays, the Federal Reserve and other central banks around the world engage in quantitative easing and other economic policies that increase bank liquidity, but risk increasing inflation.
The central bank has taken measures by buying long-term securities from the market to increase the money supply. The goal was to reduce inflation by stimulating lending and investment activities, de-prioritizing savings and prudence.
Purchases of more than $80 billion in treasures and $40 billion in mortgage-backed securities were made each month by the Federal Reserve in the summer of 2020. The balance sheet indicated it had passed the $8 trillion mark.
The solution to these problems is a different type of currency, which rewards wise moves such as savings and ensures that people’s purchasing power does not disappear over time. The Inflation Hedging (IHC) currency is one such currency. It is also one of the most widely supported projects – evidenced by the fact that IHC raised $10 million in less than 30 seconds.
How the International Humanitarian City is fighting inflation
IHC is a cross-chain cryptocurrency, running on both the Ethereum (ETH) and Binance Smart Chain (BNB) networks. Through the regular burning events of the International Humanitarian City determined by US inflation rates, the value of the International Humanitarian City remains stable. The burning events will continue until the total market capitalization is equal to the number of tokens owned by the total number of owners.
Each IHC transaction incurs a 5% fee that will be collected and redistributed to every other token holder on a regular basis in an effort to incentivize them to save more rather than speculating in other activities with the tokens. None of the accumulated fees go to the founders of the city and their team.
Another metric that makes IHC less volatile than other cryptocurrencies in the space is not to engage in trading or other speculative activities.
Currently, the IHC team is developing an on-chain wallet application to improve functionality and give token holders easier access to financial services. The wallet application will include lending and cropping services to ensure savings, for example, easier for users on the chain.
The IHC team is made up of experts from various fields and includes blockchain developers, entrepreneurs and others who have more than 20 years of combined experience in the global financial markets. Its consultants have experience in various sectors and have run operations from Wall Street to Ulaanbaatar.
Co-founder and CEO of the project Gantig Bayarmagnai is a blockchain and cryptocurrency expert in Mongolia. Besides founding IH Bit LLC and Cryptocurrency Mongolia Group, he also co-founded Silkchain Capital, a country representative for VeChain in Mongolia.
Accelerate the global transition to cryptocurrency
This Saturday, October 9, 2021, will be a major day for the world of boxing. To promote worldwide adoption of cryptocurrency, IHC is teaming up with former world heavyweight boxing champion Deontay “The Bronze Bomber” Wilder for the WBC World Heavyweight Championship in Las Vegas.
Deontay’s fight against Tyson Fury will see the fight emerge in IHC-sponsored fighting trunks as part of the company’s mission to accelerate the global transition to cryptocurrency. Deontay Wilder said in a press release that he is “excited about his sponsorship of IHC.”
Munkhjin Otgonbaatar, Co-Founder and CFO of IHC noted that Deontay “embodies everything a hero should be – rebellious, resilient and disciplined. He is a true rebel who fights against social injustice and inequality, while IHC is a rebel cryptocurrency that fights against inequality and the resulting injustice about the printing of bumper money practiced by central banks around the world.”
How to buy the International City for Humanitarian Services?
IHC coin is currently available and traded on two DEXes, ApeSwap and PancakeSwap. As part of the company’s roadmap, the token is scheduled to be listed on two central exchanges, which is supposed to take place in late October 2021. All news of the listing will be announced to the community on available communication channels and social media platforms. For more information on how to obtain an IHC and project support, please visit the IHCoin website.