Could There Be One World Digital Currency?

Wulan_maniez

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Quote from: soenan on December 08, 2020, 07:20:16 AM

COVID-19 itself has had an impact on worsening economies in many countries.

The economy in many countries is indeed experiencing an economic recession, also in my country.
It seems that my country has also printed a lot of money for various purposes such as to buy
very expensive vaccines and to make donations to its people, as many are excluded from work.

JJJJames

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Quote from: Inspiron14 on December 16, 2020, 03:04:25 PM

all of that might happen, considering we don't know what will happen in the future,
maybe this virus is making more and more people easily infected, and money paper is a means of spreading the virus,
of course only digital money can prevent it, maybe in the future Bitcoin will become one of the world's currencies.

What about a computer virus?

Inspiron14

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all of that might happen, considering we don't know what will happen in the future,
maybe this virus is making more and more people easily infected, and money paper is a means of spreading the virus,
of course only digital money can prevent it, maybe in the future Bitcoin will become one of the world's currencies.

Chainsmokers

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it is impossible for digital currencies to replace real currencies in the future Of course there will be a lot of clashes from several parties, My speculation is that digital currency will be used as a means of payment only as has been done in several developed countries

JJJJames

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I'd hazard a guess that people with a lot of power and a lot of influence would have a lot to say about a "world currency" having currencies backed by bitcoin as some (fewer than a hundred years ago) are by gold.

FontSeli

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Quote from: jaberwock on December 12, 2020, 02:20:27 PM

There is already a currency that should be considered a global currency and that’s Bitcoin, it’s free to be used by anyone around the world, no one is stopping you from making use of it except your government if they happens to say that crypto assets are illegal in the country, if not that then you’re free to make use of it.

Bitcoin is the first cryptocurrency and has been a really useful means for cross border transactions, and Ethereum is another one. All these cryptocurrencies are already global currencies, but they are not real currencies though, fiat still remains the real one and every has its own fiat.

Bitcoin is a great option at the moment. However, if we proceed globally when the cryptocurrency will be used by billions of people, we will need a coin with a much faster transaction speed.
Bitcoin at this time may well continue to remain as a reserve cryptocurrency-the digital equivalent of gold. But at the same time, to perform the main number of trading operations, we will need a faster coin.

jaberwock

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There is already a currency that should be considered a global currency and that’s Bitcoin, it’s free to be used by anyone around the world, no one is stopping you from making use of it except your government if they happens to say that crypto assets are illegal in the country, if not that then you’re free to make use of it.

Bitcoin is the first cryptocurrency and has been a really useful means for cross border transactions, and Ethereum is another one. All these cryptocurrencies are already global currencies, but they are not real currencies though, fiat still remains the real one and every has its own fiat.

suzanne5223

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The question of having one world digital currency has been discussed before on this forum and having one world digital currency is not possible.
1) the government stance towards the Libra coin and its executives is evidence.
2) The IMF's suggestions to the governments were each country having its own digital currency not one world digital coin.
3) The rules and regulations of every country are not the same things.

FontSeli

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Quote from: kpierce77 on December 12, 2020, 04:56:13 AM

Quote from: FontSeli on December 12, 2020, 03:58:38 AM

Quote from: Psynthax on December 10, 2020, 04:42:30 AM

As far as I know blockchain system still stucks on scalability. Popular coin like BTC and ETH struggling a lot when there's overflow of transactions and that's already a proof. Can't imagine if the entire world sending transaction at the same time, the fee gonna be whooping high despite ethereum 2.0's sharding.

It's still lacking and insufficient to replace the current centralized traditional money but as the time goes it's gonna be capable. It's just matter of time really and I disagree that it gonna be One World Digital Currency or whatever it is, I can't see it happening.

At the moment, there are really no coins that can handle the billions of transactions that can occur in the event of mass adoption of cryptocurrencies. However, I am sure that such coins will appear as soon as the popularity of cryptocurrencies increases. Ethereum 2.0 provides Sharding, which can give good speeds with minimal commissions. I hope that in the future we will see how this technology will work.

Of course, there are a number of projects that offer sharding and I think we already know the direction. maybe it only takes time for the developers to develop the technology, and I think with the many projects now offering pretty good scalebility, I think we'll find something pretty good maybe in the next year.

The main problem with Sharding is that quite a few nodes provide validation and this has a very bad effect on the security of transactions. The new Ethereum network already has a lot of nodes, which means that there will be sufficient security in sharding.

kpierce77

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Quote from: FontSeli on December 12, 2020, 03:58:38 AM

Quote from: Psynthax on December 10, 2020, 04:42:30 AM

As far as I know blockchain system still stucks on scalability. Popular coin like BTC and ETH struggling a lot when there's overflow of transactions and that's already a proof. Can't imagine if the entire world sending transaction at the same time, the fee gonna be whooping high despite ethereum 2.0's sharding.

It's still lacking and insufficient to replace the current centralized traditional money but as the time goes it's gonna be capable. It's just matter of time really and I disagree that it gonna be One World Digital Currency or whatever it is, I can't see it happening.

At the moment, there are really no coins that can handle the billions of transactions that can occur in the event of mass adoption of cryptocurrencies. However, I am sure that such coins will appear as soon as the popularity of cryptocurrencies increases. Ethereum 2.0 provides Sharding, which can give good speeds with minimal commissions. I hope that in the future we will see how this technology will work.

Of course, there are a number of projects that offer sharding and I think we already know the direction. maybe it only takes time for the developers to develop the technology, and I think with the many projects now offering pretty good scalebility, I think we'll find something pretty good maybe in the next year.

bitterguy28

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Quote from: soenan on December 08, 2020, 07:20:16 AM

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

This is next to impossible mate,Because every country has their deciding currency and even that bitcoin becomes adopted worldwide in don't think that all the countries around the world will do the same,Surely soem will use other altcoins and America has PayPal so why crypto when they are always wanted to be original and different.

Quote from: soenan on December 08, 2020, 07:20:16 AM

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

Substitution for Money in several countries might considerable like Venezuela that wanted to be adopting crypto to become their currecncy.
But total replacement of Fiat worldwide will never happen,not unless the world will have single leader things that also impossible to happen.

Paulogo

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The fact Cryptocurrency has a bright future cannot be overemphasized. But it becoming the basis for a one world currency seem to me like a mere fantasy. Who controls it will be a major reason why it will not be globally. The world power nations will not want to submit control to each other. I see impossibility in this one.

Dhoe

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Quote from: aysha9853 on December 12, 2020, 04:11:15 AM

it is possible that if the currency does not exist it will be replaced by gold, because before getting to know currency, gold or silver was first, while bitcoin is likely to be difficult to become a currency

Bitcoin is difficult to become one world digital currency because of government regulations, many do not agree that Bitcoin is used as a currency. But lately I have seen a lot of developed countries accept Cryptocurrency payments and I think this is an advance in the Crypto world, I still hope that someday, Bitcoin will truly become one world digital currency.

aysha9853

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it is possible that if the currency does not exist it will be replaced by gold, because before getting to know currency, gold or silver was first, while bitcoin is likely to be difficult to become a currency

FontSeli

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Quote from: Psynthax on December 10, 2020, 04:42:30 AM

As far as I know blockchain system still stucks on scalability. Popular coin like BTC and ETH struggling a lot when there's overflow of transactions and that's already a proof. Can't imagine if the entire world sending transaction at the same time, the fee gonna be whooping high despite ethereum 2.0's sharding.

It's still lacking and insufficient to replace the current centralized traditional money but as the time goes it's gonna be capable. It's just matter of time really and I disagree that it gonna be One World Digital Currency or whatever it is, I can't see it happening.

At the moment, there are really no coins that can handle the billions of transactions that can occur in the event of mass adoption of cryptocurrencies. However, I am sure that such coins will appear as soon as the popularity of cryptocurrencies increases. Ethereum 2.0 provides Sharding, which can give good speeds with minimal commissions. I hope that in the future we will see how this technology will work.

Farma

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Quote from: soenan on December 08, 2020, 07:20:16 AM

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

This is a pretty tough question, but if bitcoin continues, I think it could happen. however, we have seen that in the midst of this pandemic, the price of bitcoin continues to grow. In fact, many people are suggesting learning about cryptocurrency at this point because it could help stop covid transmission. after all, cryptocurrency pretty much solves the problem. it's just that, there are still quite a number of people who don't share the same opinion. however, whether this can be a substitute or not, it still has a vague answer.

Banulit

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There is a very huge possibility that countries in the whole world will accept and adopt bitcoin and cryptocurrencies as part of the mode of payment seeing that it is more convenient, less hassle and it is a contactless transaction which the world using right now in avoiding covid-19. I can see a very bright future that sooner or later almost all the countries will finally uses cryptocurrencies.

robelneo

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Quote from: soenan on December 08, 2020, 07:20:16 AM

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

As one of the early adopter of Cryptocurrency, we all want or dreaming Bitcoin to reach greater heights like making it the One World Digital Currency but it's not easy and a realistic view of the concept is not likely to happen at this point in time, even if we do not admit it the government wants to control and they want centralization, something that Bitcoin cannot bring.
I don't know how's it's going to happen there will be a revolutionary structure for them to achieve Bitcoin.

bttmember

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Quote from: soenan on December 08, 2020, 07:20:16 AM

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

I do not think that so many countries around the world will agree on this point though the concept of single global digital currency sounds awesome but i think that countries will prefer their own national digital currencies so that they have full control over it.

1l1l11ll1l

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Quote from: seleme on December 11, 2020, 05:19:53 PM

There is no need to overestimate the potential of conspiracy theories, one world currency is only possible under the single government. Since gold agreements among G8 countries, the gold standard has been approved as the main reserve for Us currency. BTC has no such fundamental potential, unfortunately.

Agree, besides that bitcoin also does not have enough credibility to become a strong currency used by all people in the world, there is still a lack of knowledge and also a lack of regulation which means it can hinder bitcoin steps. on the other hand, gold has long been a measuring instrument of exchange around the world

Topic: Could There Be One World Digital Currency? (Read 830 times)