The act of using one currency in the world mean's that every country in the world uses the same currency.
The use of a global currency will be the starting point of eliminating suffering in the world.
I don't believe that it's going to eliminate world suffering. While it can be a start of unity of every country but differences will remain to each country and races that are living on this world. So, it has some benefits but also the disadvantages are still there and doesn't guarantee elimination of world suffering.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
It doesn't guarantee with how you look at the situation but trade wise, every country will still rely on law of supply and demand. Currency one but the value differs because of the demand of good, etc.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development.
While I agree that developing nations will benefit from having one-stable currency of all because of ease of trade and transactions. However, geographically there will be a lot of matters concerning the geopolitics and how economically well is a country.
Sounds good but I'm not optimistic at all. While beneficial but, it doesn't guarantee everything.
For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
It's not only Zimbabwe that has gone through hyperinflation but Venezuela, Cuba and other South American countries. With what I know with these countries dealing with hyperinflation, it's certainly a good alternative when they use USD for the purchases of their needs and necessities.
One currency will work on these countries but it's not going to work for other countries that have stable economies and larger geopolitical territories. Because as we know, not every country is willing to submit to another country that they know they're stronger and more stable.