Topic: A global currency may be powered by the blockchain (Read 746 times)

Agree. First things first. Countries worldwide would need to adapt blockchain to their existing infrastructure for a global currency to become a reality in the future. Considering how many have shift their views from Bitcoin and crypto, to the Blockchain, there's a possibility that the sole technology would take over every aspect of our lives in the future. An issue present nowadays which prevent a "One World Currency" to become a reality, is the lack of Internet access worldwide.

As such, the Internet needs to be accessible by anyone around the world, to help make a "One World Currency" (or Global Currency) powered by the blockchain fully adopted by the masses. The New World Order could use the blockchain for its own benefit, as it provides transparency, and reduces fraud and corruption. With a single blockchain, people could be conducting their transactions worldwide. Obviously, Bitcoin cannot be that "Global Currency" since it's decentralized and unfriendly to most banks and governments worldwide.

Nonetheless, the Global Currency needs to have the approval of governments, and banks worldwide, to become used as a standard (and only) medium of exchange for the people. Perhaps, the US Dollar would switch to a blockchain becoming the Global Currency. Or maybe, another currency such as the Euro or Yuan will take over the world. What matters is that Bitcoin has brought us such a unique technology (Blockchain) which will enable massive transformation of our economy, healthcare, lifestyle, and more. Just my opinion

Maybe it could happen if all countries would adapt blockchain. We know that blockchain really helps any online transactions that made it more easier and faster. Then if that would be the case, everything would be more accessible.

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

Well this is about the story of nine years that crypto currency is here on board. We can have good research on the performance and other factors that will allow us to make a list of best coins in market so far. For me, this is only bitcoin that have the potential to turn red into green. We can have more other coins in the market coming too but they will take more time.

Yes, I also agreed on you. Most likely now cases in easy stealing are on the cryptocurrency, there is a lot of scammers waiting for a weak person as a new victim into them. Improvement of the system is needed especially on transactions process that must be fast and easy to secure your account. Indeed, time to time I never doubt that this blockchain technology will bring us a good profit via investing coins.

of course blockchain will feel effectiveness of time and transparency in transferring. there are currently banks and companies that use this system. so it's just a matter of time to be widely used

thats absolutely true , now all cryptos are only scam hype projects, blockchain is sure future for all, but all will see new cryptos with new features one better then another and when we will get that one crypto with all features fast transactions etc - we will get our one global currency

all possibilities can happen without anyone knowing for sure one of them blockchain according to blockchain technology was created to answer the needs of an economic system that uses advances in time and technology might just develop in the future

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 it’s 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.

This has become a fact. The blockchain will change the Internet again. Usually people call it Internet 2.0, which is a technological revolution, and human information civilization has gone one step further.

I do believe in future all of our transaction will be tracked by blockchain technology, event bank are starting to use blockchain technology for a faster transaction. Lets see what will happen in 5 years from now, i believe blockchain will be really popular and many will come to use it for businesses purposes.

That's certainly true, mate. However, for a one-world-currency to take effect, it needs to be as centralized as possible. This type of currency would rely on blockchain technology to track every transaction made around the world. I believe that Ripple fits the bill nicely, since it's centralized and several banks have already made partnerships with it. The XRP ledger is highly scalable and extremely cost-effective, which means that it could easily become the go-to platform for a one-world-currency or global currency to emerge within the future.

Once this is done, then all financial data could be stored within a microchip implanted in a person's body. That microchip would include the account balance of that one-world-currency which is powered by the blockchain. By that time, it'll be nearly impossible to attack or disrupt the centralized blockchain ledger backed by millions of devices around the world. Since many governments would be responsible for securing this global currency, the centralized blockchain would be as secure as Bitcoin (probably even more secure than Bitcoin).

While this would take some time to become a reality, there's no doubt that blockchain technology would mature to a point where governments and banks would adopt it for their own benefit. Right now, they've been carefully researching the tech, which means that there's a high probability of a global currency backed by all the governments of the world to emerge within the future. Just my thoughts

in this case, you need to invent a new bitcoin, because only the anonymity of the Creator gives this decentralization

It is more likely that one of the cryptocurrency might be the currency that will be used in financial trnsactions all over the world. But, it not known up to now which coin will that be. As of now, cryptocurrency coins are still racing towards adoption. As of now, developers are working hard for this.

Do you mean that bitcoin , I think that . Many people expect that bitcoin will become a global currency in the future but it seemly hard for it to be come true

In my thoughts , i think we need more learned about this because it is not easy and its risky .Why , because you didn`t sure if this is secure or safe. But like you said is very helpful if you know how to use this in your own risk and manage your own . I like the word fast and cheap transaction that offer in every blockchain. But we still need a paper money because this is important also in the wet market and also the non civilized country.   

This is a new revolution of mankind. This is the era of the information revolution. A large number of jobs can solve employment. This is an important journey for mankind to move into the information age.

You do have a point there, mate. Blockchain technology exposes their actions since it's transparent. However, as we've seen with other cryptocurrency projects, blockchain can become private or obfuscated as well. With the use of Zero Knowledge Proofs or Confidential Transactions, sensitive transaction information can become obfuscated from prying eyes. Which gives the governments a greater advantage over fiat, IMO, since it'll be hard to track down and trace their activities on the blockchain.

The way I see it, is that a global currency powered by the blockchain, would make use of privacy technologies for the sole use of governments, while for the rest of the people, it would remain as transparent as possible to help fight criminal activity. Because of the many benefits a blockchain provides such as transparency, privacy, security, and lower operation costs, it'll be too hard to ignore for any government.

Therefore, a global currency powered by the blockchain could become into effect within the not-so-distant future. It's only a matter of question which currency it will be whenever it's the US Dollar, the Euro, the Yen, or any other Fiat currency. Just my thoughts

The governments know this already, they have advisors left and right that know of this but why don't they use it? Because it exposes them and airs our their dirty laundry to their constituents and know that they're actually corrupt as f*ck. That or banks pressures them to turn a blind eye so they could rip off people more.

Bitcoin may have become a popular cryptocurrency worldwide. However, it cannot be considered as a global currency since there are specific areas of the world where the Internet is inaccessible. In addition, Bitcoin is a decentralized cryptocurrency which doesn't fit the likes of banks and governments worldwide, because they cannot control it whatsoever. For a global currency to become practical and highly controllable by governments worldwide, it would need to be as centralized as possible. With the advent of blockchain technology, this is possible, as we've seen it with Ripple (XRP).

As governments carefully research this new technology, they could explore the many benefits a blockchain provides such as unparalleled security, transparency, and low costs. This would prove to be perfect for a centralized global currency, since every transaction could be trackable. No matter if it's transfers of ownership, real estate, certificates of birth/death, and more, the blockchain could easily verify the authenticity of everything, and provide transparency to the government. Before we know it, a single unified currency would take place, allowing everyone no matter the location to transact in the free world.

Imagine being able to pay with the same currency anywhere in the world by just using an implant. At first, it may look convenient for the average user, but as governments use the latest technologies to track and control someone's finances, it’ll be terrifying. Effectively, this could eliminate privacy once and for all, since everything would be tracked by the blockchain and surveilled by AI. Which in turn, brings the New World Order. Just my opinion