In your example, you'd set your fence to 50mm (~2" for those who like Freedom Units ;) and run it through that way. If you should happen to mis-set the fence a bit and you get it at 49.9mm or 50.1mm, at least your strips are all the same. If you put the "off cut" portion between the blade & fence, you have to adjust the fence for every single cut. I've never seen anyone do this. See addendum at the end for an update on this
While 50mm isn't much room to get your hand safely past the blade without risking losing a finger, this is what a push stick/block is for.
One thing you do want to consider is NOT having the fence on the same side as your blade tips to if you're making an angled cut. In this lovely ASCII art, you'll see that the cut piece between the fence and blade can get pinched, and that's where you get kickback:
+--+ <--- Fence
| | v--------- Work piece: this part could get pinched and cause kick back
| |
| |------\----
| |-------\--- <--- Tilted blade
--------------------- Saw table
Instead, you'd want to put the fence on the other side to significantly reduce the chance of kick back:
+--+
| |
| |
---\--------| |
----\-------| |
---------------------------
In this scenario, the off cut piece won't get pinched between the tilted blade and the fence - it's free to move if it needs to. The "keeper" piece would be free to rise up some if necessary.
I will note that since I originally wrote this answer, I have learned about a tool/jig called a "thin rip guide" or "narrow rip guide". This is a device that clamps into one track in your table saw and has a wheel against which you position the stock. You put the jig to the left of the blade and the fence to the right. You adjust the jig so the gap between the wheel & blade is the size of piece you need to keep, then make a cut. You then reposition the fence by placing the board against the jig's wheel and move the fence until it hits the wood.
This effectively puts the "keeper" piece to the left of the blade and the "off cut" between the blade and fence.
The goal of this is to be able to safely make thin cuts without risk of the thin piece falling between the blade & insert (hint: a zero-clearance insert also helps), and without it getting stuck between the blade & fence where it's difficult to push past the blade, even with a push stick, and could possibly kick back at you. It even allows you to reinstall the blade guard with its built in anti-kickback pawls for even greater cut safety.
With this setup, you do move the fence with every cut, but you've got the jig to make the movement quick and easy and the measurement is repeatable, instead of having to do the math on each one, relying on the fence's scale and your ability to work in imperial fractions (or the easier metric) and having to also calculate in the blade kerf for each cut.
One example of the "thin rip jig" is this one from Woodpeckers. From what I understand, they make very high quality (and expensive) tools and a lot of people recommend them. I cannot recommend them personally because I don't own any. The Woodpeckers was simply the first one I found in my searching - they're also made by a variety of other manufacturers at differing price & quality levels.