Political tension in Korea, cryptocurrencies and Kencoin

2017 is a year filled with political tension.

Earlier this year the hands of the doomsday clock was moved from three minutes to midnight to two hand a half. The doomsday clock was created in 1947 by the bulletin of the Atomic Scientists and it calculates the probability of a global disaster. This is the closest we’ve been to global catastrophe since the early 1980s.

To make matters worse, tensions in the far east have been rising sharply over the past 2 weeks. With Kim Jung-un’s missile tests and nuclear ambitions, the eyes of the world have turned to North Korea. Many have claimed that U.S. President Donald Trump’s militant “fire and fury” comment as response to the missile tests are only fanning the flames further.

As reported by the Daily Mail earlier today, North Korea plans on continuing its missile launches despite worldwide condemnations. This announcement is keeping the world on edge.

Tuesday’s North Korean missile launch over Japan has already affected the economy in negative manners. Fear of war has caused losses in both the South Korean and Japanese stock exchanges. It also is likely to be the primary culprit in the rise of the price of gold recently.

Today Kim Jung-un has directly threatened the U.S. territory of Guam with a missile strike, further raising global tensions.

The economic repercussions and cryptocurrencies

While in the past people have stored gold or foreign currencies in case of a disaster, cryptocurrencies such as Kencoin, Etherium and Bitcoin have many technological advantages that make it preferable to Gold in a lot of ways.

Cryptocurrencies like Kencoin will not need to physically be on an individual, therefor providing better security. It can also be exchanged to any fiat currency an individual would want and can be purchased easily online.

With tensions raising in other sectors in the globe as well as the Korea peninsula, cryptocurrencies and gold are expected to rise while traditional fiat currencies such as the US dollar, Japanese Yen and the South Korean Won are expected to weaken.

One can only wonder how high the value of cryptocurrencies will rise by the beginning of 2018. With the world close to a global conflict, we would recommend that every adult have an emergency stash of cryptocurrencies, and some Kencoin in that stash. Because we all know that the last World War ended with a baby boom.