Post
Topic
Board Economics
Re: A global currency may be powered by the blockchain
by
Abiky
on 18/10/2018, 02:01:24 UTC

It is really difficult to unite ans provide a global currency since we do havw different government system. It impossible on many country such as the third ones because of low back up funds, aside there will be economy imbalance if a global currency would be implemented. Blockchain technology is a great system for financing however we will be needing a great, fast and wide network for the world.

That's certainly true, mate. However, I believe that as time goes by, the Internet would be accessible to any country in the world. This would probably become achieved by using satellites which distribute the internet to diverse areas worldwide. Once this is achieved, then all countries could get access to blockchain technology, enabling a cashless society in the future. At some point, they would come to an agreement, as they devise laws for the benefit of all.

When all the world's governments become united into a single global government, then you could expect a "One World Currency" to become a reality soon. One thing for sure, is that Blockchain technology has been overhyped. As such, it wouldn't be surprising if this "One World Currency" would be launched in a Blockchain (either Public/Permission-less or Private/Permissioned). Therefore, the tech provides many benefits that are too hard to ignore for world governments such as transparency, immutability, security, lower costs, faster speeds, and more. Just my thoughts Grin