Post
Topic
Board Economics
Re: Could there be a new financial system not dependent on USD?
by
ammo121810
on 30/06/2023, 14:02:47 UTC
Yes it is possible to create a new system that is not dependent on the USD. In fact, there are already alternative systems in place, such as cryptocurrencies and bartering systems. Cryptocurrencies, such as bitcoin and ethereum are decentralized digital currencies that operate independently of governments and traditional financial institutions. They allow for peer to peer transactions without the need for intermediaries such as banks. Bartering system involve exchanging of goods and services directly without the use of money This type of system has been used for centuries and is still used today in some communities. It is important to note that the USD is currently the dominant currency in the global economy and any new system would face significant challenges in gaining widespread adoption.