Currency Diversification: Why You Should Do It Now [Infographic]

Imagine this scenario: your government has just declared your paper currency without value in four hours in a country where 90% of transactions are cash based. The lines at the banks are wrapped around the block, and most people aren’t going to make it inside before the deadline. There is a run on food as people anticipate not being able to get what they need before the banks close, and people in rural areas have no access to digital currency. And to top it all off, your government is pushing the use of a payment app instead of cash or plastic, when not everyone can afford to have a smartphone. Sounds pretty far-fetched, right? That’s exactly what happened in India last winter after the government attempted to curb tax evasion and corruption.

How can you prevent yourself from being in a situation where your currency becomes useless? Diversification. Diversifying your currency can help you to be prepared to deal with whatever problems may come your way, whether it is a government-backed devaluation of your currency or a hacker-caused collapse of the banking system. Learn more about currency diversification from this infographic!

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Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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