At this point, only gold has the capability to be used as the reserve currency of the world. Bitcoin and some of the other cryptocurrencies may rise to that role in the future, but right now they are noway near that. Then there are other bullion currencies such as Silver and Platinum. But the issue with these metals is that they don't have enough liquidity to become store of value.
As history has shown, gold cannot be used as a currency. The value of a currency - money - is in the speed of its movement. I signed the transaction and received the money in minutes. Rhetorical question - how to pay with gold?
Exchange obligations in gold? Voros - how can you be sure that I have in my reserves the 100,500 tons of gold I indicated? Those. a debt obligation in gold is a dummy. However, just like the gold and foreign exchange reserves of countries, there is a nominal indicator, but no one ever allows auditors. The question is why?
If I'm not mistaken, gold was used as currency in feudal China. According to historical films produced by China, the people of this country at that time used silver and gold as currency in exchanging goods. But it must also be admitted that using gold as currency will create more disadvantages than the benefits it brings. But no matter what developments or major changes the world has, gold is always a valuable asset and receives the most attention. No other property can surpass it and that has been proven for over a thousand years.