100 years ago, Henry Ford proposed ‘energy currency’ to replace gold By Cointelegraph

by Msnbctv news staff


100 years in the past, Henry Ford proposed ‘vitality forex’ to switch gold

In 1921, American industrialist Henry Ford proposed the creation of an “vitality forex” that would type the idea of a brand new financial system — providing putting similarities to the peer-to-peer digital money system outlined in Satoshi Nakamoto’s 2008 (BTC) whitepaper.

Entrance web page of the New York Tribune dated Sunday, December 4, 1921. Supply: Library of Congress

Bitcoin as an vitality forex

On Dec. 4, 1921, the New York Tribune revealed an article outlining Ford’s imaginative and prescient of changing gold with an vitality forex that he believed might break the banking elites’ grip on international wealth and put an finish to wars. He supposed to do that by constructing “the world’s best energy plant” and creating a brand new forex system based mostly on “models of energy.”

Changing gold, ending wars