Topic: A global currency may be powered by the blockchain - page 5. (Read 746 times)

I live in an "independent" country of Eastern Europe, which fulfills almost all the requirements of the European Union and the USA. There are hundreds of such countries that are ruled by puppet governments. I am sure that in 3-4 years the single world electronic currency will be massively used and put into practice.

By this means every person who got that microchip don't have a escape to the hands of the government tracking financial stability,asset and other source of income into one blockchain this is a good idea for the person who don't use his/her wealth wrongly, and on the other hand bad news for the outside world who don't use bitcoin rightful.

I have the same view as you towards the government maximizing the use of blockchain technology once a global currency is implemented. Not only because the governement wants to track and control us financially, but basically in everything we do. This has been also the reason why Bitcoin was created, to acquire such financial freedom. But, gradually everything in cryptospace has becoming less decentralized and sooner or later, it will either cryptocurrency could be phased out or it could be fully regulated and controlled by the government.

Bitcoin could be the global currency right now, but it hasn't been adopted by governments worldwide due to its decentralized nature. No one can control it, neither restrict access to it, which makes it terrible for a one world currency used in the New World Order. Of course, cryptocurrencies will become popular over time, but they won't be able to replace fiat because they're not backed by a trusted entity like a government.

When a centralized global currency comes into effect, every nation would be using it to conduct transactions all around the world, recorded on the blockchain. This blockchain, would probably be a private one (permissioned) controlled by all the governments in the world. Every asset from food supplies, to personal information and financial information would be tracked by them, greatly defeating the purpose of privacy for human beings. It sounds horrifying, but I'm afraid that it'll become a reality in the future, as every government will enforce extreme surveillance over every individual around the world.

With the power of blockchain technology (for tracking assets and proving their authenticity) and AI (for decision making), you could expect for this to happen and more.



Exactly. That's what I believe that will happen within a few years from now. Everything would be tracked and verified by the blockchain, as it’s the immutable source of truth. Fiat currencies would be migrated to this technology, and a cashless society would come into effect. Then, proof of ownership, legal contracts, certificates of birth, and more would be registered on the blockchain. With all this, there's nothing stopping governments around the world, into migrating their outdated economic and political system into the modern world via the use of blockchain technology.

However, I still believe that there could exist a possibility of governments joining themselves together, to form a global currency which is under their control. Then, every people would transact using an implant under their skin to buy or sell anything. Since the one-world-currency would operate on a global blockchain network, any transaction could be tracked by any government around the world, effectively reducing criminal activity at a large scale.

My thoughts on this are clear, it wont be happening, no government will be on the same page anytime in the future. Come on lets face it this world is run by rich and politics and common people can just dream about new ideas and nothing else. To take effect the government needs to approve many protocols that will come in line with the other 213 countries and then we can say we have one currency in the world.
I could have said that we should not be mixing the politics and financial system but it is what it is mate! Also lets not over hype the use of blockchain which is smart yet not usable over the global level due to miscellaneous reasons around us.

I think it is very difficult to implement One World Currency, because there are some countries that are still firm in their stand to use their domestic currency, the country is afraid that using One World Currency will make the country's economy depend on other countries

I think that is very good news for the future of bitcoin, indeed integration of global payments is needed for efficiency in the economy of all countries, if payments between countries are more efficient, then economic transactions will increase and the economy of each country in the world will grow rapidly

Ethereum is the name of the blockchain company that has created digital ether tokens. But this crypto currency is often called Ether. Supported by blockchain like Bitcoin, the technology is slightly different and is intended for special use cases: smart contracts. For example a financial trade agreement.

Too much tinfoil about NWO, but yes, we are currently heading towards a blockchain-powered world seeing how eager governments and companies are to integrate/incorporate the blockchain tech on their systems and operations. With this, many things would be kept on a ledger which allows for faster data processing and efficient data storage. Currencies will be smooth as hell and services would not take long to pull up information a user needs. We might not see a one-world government but we are already seeing the blockchain revolution materialize.

Bitcoin is already THE global currency.

If we purely focus on fiat, then I am happy there is a wide level of variety in fiat currencies that we can choose from. It's horrible if the world wold uses one single blockchain powered fiat currency with how flawed and rotten to the core governments are. If one major governments fucks up, it will take down that currency with it, so it's not viable and we shouldn't want this to happen.

Power to the people with how much freedom we have to switch from fiat currency to fiat currency based on what we believe is the safest possible hedge to preserve our networth as much as possible. The more currencies people can choose from, the more financial freedom and power they will obtain, so I'm all in for a world with plenty of options, because everything is better than being forced to use one just one currency.

In the end, fiat currencies will be tokenized and that's really the most we can expect from this revolution, and we should be happy with that.

It is not much of a challenge or big deal really if someone mega government structure decide to launch a global currency based on the blockchain, I see the European Union doing this in a few years time. It will basically be the digital versions of the fiats they issue, only powered this type by the blockchain.I do not like the idea of a government creating a crypto because it will ultimately be a centralized coin. That goes against the very thing I like about cryptocurrencies

It's more or less already happening. Ripple has various products that they managed to install in various banks across the globe, which should make transfer of value much easier and faster, so that's technically the first step.

I'm however not sure how long banks will be using Ripple's services, but it's definitely a start of something that might stimulate them to create their own system that works better and doesn't require them to pay an external party such as Ripple.

Banks are thriving on controlling every aspect of their operations, so it only makes sense to drop Ripple's services at a later stage.

Most governments use the local currency as a tool. Inflation helps them a lot. Issuing "paper" also helps them a lot.
If two or more different countries want to use the same currency they need a lot of regulations and even then big problems can occur (see EURO and Greece).
So no, I don't expect to see too soon such a coin.

Commercial Banks, on the other hand, could use some sort of digital gold - a cryptocurrency they manage / own and can transfer value between themselves very easy. This could be something we may see in a near future. Such approach makes more sense.

Have you ever heard about the "One World Currency" that will be used in the New World Order? Well, it's believed that such currency may be powered by a blockchain which is in the hands of Banks and Governments worldwide. As this technology has been proven to provide borderless payments in a fast and cheap way, it's the perfect way to upgrade the existing monetary system into one that's highly efficient, transparent, and controllable by the world's authorities. In addition, blockchain not only works for tracking money, but also property, supply chains, and more.

As such, there could exist a global currency in the future which makes use of Bitcoin's blockchain technology. After all, the latest buzz has been all about blockchain, and banks, as well as governments, have become interested in it. Before we know it, everything will be digitalized as our personal, financial, and medical information will be stored in a microchip and verified by one global blockchain network.

What are your thoughts?