The president of the Bancor Foundation passed away earlier today. The project's official Twitter made the announcement, describing him as a "financial justice warrior".
The Swiss-German, who was in his late 70s, died at his home in Hoherhagen, Germany.
Today we mourn the passing of @BernardLietaer, one of the greatest monetary innovators of our time & President of the Bancor Foundation. Bernard was a financial justice warrior. He will be truly missed. pic.twitter.com/Y3Ndona9fO— Bancor (@Bancor) February 4, 2019
A student at MIT in the late 1960s, Lietaer conducted an in-depth study on floating exchange rates. While working in the central banking sector, he was involved with the development of the European Currency Unit, which was a precursor to the Euro.
His innovative ideas about money and how it could be changed to work for people were developed well before the blockchain was invented. He had long seen the potential in decentralized financial systems and how they could tackle issues with fiat currency monopolies.
The Bancor network's focus on liquidity was a big part of what appealed to Lietaer, and what led him to join the Foundation as President as well as Chief Monetary Officer.
13/ Bernard played an instrumental role in advancing the fundamental convertibility technology, researching its implications & advising the first Bancor-powered community currency pilot, the Sarafu Network, deployed last August in Kenya in with local non-profit @grassEcon.— galiabenartzi (@galiabenartzi) February 4, 2019