Bitcoin is already a global money itself, because it breaks the barrier in making quick transactions from one country to another. Bitcoin is fast when it comes to making international transactions but I still think that the banks can easily adopt a system like that to make their transactions quick, instead of the slow systems like Western Union, Money gram etc.
But its too early to talk about something that is unlikely to happen till the end of the world; have reasons for saying such might not happen or maybe Bitcoin is the one currency they are talking about, maybe this is how it was meant to be, that there will be one currency that can be used by anyone no matter their location and when they decide they can also make use of fiat.
But its too early to talk about something that is unlikely to happen till the end of the world; have reasons for saying such might not happen or maybe Bitcoin is the one currency they are talking about, maybe this is how it was meant to be, that there will be one currency that can be used by anyone no matter their location and when they decide they can also make use of fiat.
While Bitcoin is global money, it's not a currency which is endorsed by all the governments of the world. That's why, the focus is on a global currency (or should I say a One World Currency) that's powered by the blockchain and backed by all the countries of the world. If Blockchain technology becomes proven enough to handle transactions at a large scale, then without a doubt this will happen in the future, as the benefits are too hard to ignore. Of course, Blockchain eliminates corruption and fraud, but for that same reason, the world will adapt to it within a few years from now.
Once the One World Currency powered by the Blockchain comes into effect, then criminal activity will be reduced to a very minimum. However, the downside of this would be lack of privacy, as it'll be designed to track down every transaction made on planet Earth. From real estate, to transfers of ownership, to asset registration, anything would be registered on a global Blockchain which is maintained by the world's governments. It all sounds scary, but it's the reality as governments and banks worldwide have started to study Blockchain technology nowadays.
Therefore, sooner or later, we would embrace a One World Currency which would make use of Blockchain tech for immutability, transparency, fast settlements, low costs, and fraud prevention. Just my thoughts
