The result of a currency dropping in buying power (value) and price skyrocketing has a tremendous effect on daily living and it simply should no longer exist in our modern times.
Designed inflation of fiat currencies are the reason why you can't save money for long periods of time-- it simply becomes worth less and less. If your parents saved money for a big purchase such as a house or college, here are the effects.
In the last 29 years, from 1988 to 2017, the dollar, the world reserve currency, experienced a cumulative price change of 106%, which roughly translates to losing half of its buying power. $100 saved in 1988 becomes worth less than $50 in equivalent buying power in 2017. To say it another way, it takes $206 dollars in 2017 to buy the same thing $100 purchased in 1988.
If this makes you scratch your head, it should. For almost a century the countries of the world have engaged in a financial chess game where us individuals are the pawns in the game. Blockchain has the power to combat some of this monetary manipulation.