Topic: Crypto currency can replace the dollar (Read 563 times)
Replacing of dollar won't anytime in the short or later. As the usage of cryptocurrency keeps increasing it might contribute in a large scale to the growth of the economy. Dollar is something beyond the cryptocurrency, it can be of the usage or it can be based of the trust it has gained from its historical value.
They were never supposed to change money as we know crypto currency suppoused to make bank usseles and control that central goverment have on some currencies.How that turned out it remains to be seen
I don't think so. Governments and upper people don't like if there is something not under their control and decentralized currency would lead to anarchy. Especially US Government would be very unhappy with this.
Indeed, crypto-currencies can be a complement to money. Most crypts can have additional functions. This is beneficial to develop and use.
Each e-currency or dollar has its own values as well as its own characteristics, which enrich our currency markets, which can not replace each other. complement each other more perfectly
Maybe in price and value because it is high but in currency maybe not since dollar is existing and a current currency in the certain country. It is not replace by crypto currency.
Cryptos do have the potential to replace dollar but it will take them years to do so as:
The coins though widely accepted, are not totally accepted in the financial market and are even banned in some countries.
They are highly volatile and for a strong economy, a highly stable currency is required.
The decentralised nature of the cryptos make them special as they are not bound to any rules and regulations.
The coins though widely accepted, are not totally accepted in the financial market and are even banned in some countries.
They are highly volatile and for a strong economy, a highly stable currency is required.
The decentralised nature of the cryptos make them special as they are not bound to any rules and regulations.
To replace the US dollar, I think the most basic should be to achieve price stability. The current cryptocurrency is widely used for commercial hype, which makes the cryptocurrency price has been unstable, and 90% of the tokens on the market are just for the sake of Take investors' money!
no that's not true dollar now is continue to grow because of the economy of different country that using it and cryptocurrency is very risky to hold because of volatile price that's why some people all over the world not use this not like dollar that only continue to grow and not go low not like cryptocurrency still better to use this both in the ways that they good at like save our crypto currency in our own place then use dollar too in saving money for much better actually no need to ask this question OP
The cryptocurrency will never replace fiat. Yes, it is very convenient, fast in the transactions, and anonymous but who will care about these pros when he comes to a usual shop or a store to buy some groceries?
Crypto replace Dollar? This wont happen even on my dreams i dont know where you do get this analysis or basis about crypto to took over one of the most powerful fiat currency in globe. Considering America is one of the most powerful country and so as with its currency. How can you presume that dollar can be replaced? Its not possible on any angle. Crypto would just still remain as it should be where it is just good to be on digital aspects and make such online transactions but when it comes to traditional payments then fiat would still be on the work.
Imagine a world where all online e-commerce is united with a single inventory base. From Amazon to Alibaba, eBay to Etsy, Jet to JD.com, what if the world’s most popular marketplaces shared the same items, making it easier for you to buy what you want at the best price? This is the vision of Spl.yt: a new e-commerce paradigm that is easier to use and secured by blockchain. Let’s take a look at how such a system would make life easier for buyers, sellers, and marketplaces alike.
Taming the Tedium
One of the most time-consuming parts for online retailers is keeping inventory current and up to date. This is especially challenging when items are listed on different marketplaces. When an item is listed for sale on several sites and is then purchased on one, the vendor must update the listing on every site individually. If there is an error in this process or somebody drops the ball, the retailer may double-sell the item, leading to unhappy customers, unflattering reviews, and frustrated vendors. Spl.yt solves these problems by seamlessly and securely connecting inventory records and transactions across all marketplaces. So as soon as an item is purchased on one market, it is delisted from all the others. No more checking and updating multiple listings manually.
Painting the Picture
Let’s go through the process of how the global e-commerce inventory of Spl.yt works. Spl.yt’s infrastructure helps online retailers to connect to the blockchain and utilize smart contract technology for maintaining, listing, and selling the best products online. The blockchain helps with transparent and secure transactions while Spl.yt’s smart contracts enable consumers to do things like fractionally purchase any item that is impractical to buy on their own (think yachts or even planes).
You can imagine how this new tech will be useful in your daily life by accessing our alpha to imagine. There, you will see a dashboard with a user’s identifying info and stats, such as email address, wallet address of SAT tokens, and balances. Across the top are three clickable menu options: ALL LISTINGS, SUBMIT LISTINGS and MY PURCHASES. And under that is a handy search bar to help you find what you’re looking for. Once a buyer decides on an item, making a purchase is quick and easy using SAT tokens. As you can see SATs, are automatically deducted from your total balance once you buy an item. These features and more are available to any marketplace who leverages the power of decentralization by linking to our easy-to-use SDKs.
Further, if you click CHECK MARKET II, you will see how buyers are not limited to any specific marketplace as any Spl.yt-powered marketplace has the same inventory. This gives every buyer the best options for finding the best product at the best price without having to browse multiple stores.
Smooth Sailing for Sales
The alpha also shows what it would be like for a seller conducting business on Spl.yt power marketplaces. If you click the SUBMIT LISTINGS tab, you will see a simple form to enter an item’s details like title, description, and price. The form also has an optional referral reward, which can be paid to another site if they help find a buyer. In this way, Spl.yt is an automated affiliate marketing brokerage and incentive service that includes invoicing and payments. All without expensive headache of interacting with greedy intermediaries.
Like any blockchain-app, you can verify your transaction trail on the blockchain by simply clicking the CHECK BLOCKCHAIN tab on the left. And, like how buying an item de-lists it from other websites, you can see how Spl.yt automatically populates your new listing across multiple marketplaces by clicking the CHECK MARKET II. Further, because all Spl.yt payments settle upon completion, unpaid and inaccurate affiliate marketing agreements are a thing of the past. Everyone, from social media influencers to drop-shippers to individual consumers, can benefit by using Spl.yt to post listings to their websites or other social media channels.
There is another unique feature in this section: the option for “fractional sale” of an item. This feature allows consumers to buy pieces of something like they would a timeshare, which (once funded) they can seamlessly and collectively manage, monetize, and book time to use and enjoy. If you select this option, you can enter Asset Type, Yearly Cost of Ownership, and Funding Duration for a fractional item. Sellers can sell any asset for fractionally, like cars, musical instruments, season sports tickets, or even a private jet. (More details on this in another post!)
No More Marketplace Migraines
When many websites and marketplaces work together through Spl.yt, they can focus on competing on what matters most to customers — like shipping costs/delivery speed, support, niche expertise, etc. Further, independent sellers will love these features as well. For example, when Amazon, eBay, and textbooks.com are all on Spl.yt, a student selling their old textbooks can list to one website and the Spl.yt protocol will take care of the rest to make sure the listing is in front of every potential buyer. Everyone saves time, energy and money with Spl.yt!
Every marketplace worries about the threat of fraud and dissatisfied customers. They know how fake listings can scare away customers and cause unnecessary disputes, all while distracting from their quality products. Fake web-crawler/bot hits are notorious for running up click-through marketing commissions. And a hack or failure of centralized marketplaces can lose sellers’ revenue and customer respect.
Spl.yt counters these issues with token economics, decentralization, and smart contract security. In the Spl.yt ecosystem, customers and sellers can easily settle disputes through our Dispute Resolution Protocol, which ensures any complaint is painlessly and fairly resolved. Token rewards entice anyone to police spam from the comfort of their own home. And because decentralized smart contracts are always running, sellers can know commissions are only paid when due and only quality products are listed — all without downtime. Every existing marketplace will enjoy an upgrade with Spl.yt.
We are only limited by our imaginations for what is possible in Spl.yt-powered e-commerce world. Join us as we change the way people shop online. Learn how today at https://www.spl.yt/
Taming the Tedium
One of the most time-consuming parts for online retailers is keeping inventory current and up to date. This is especially challenging when items are listed on different marketplaces. When an item is listed for sale on several sites and is then purchased on one, the vendor must update the listing on every site individually. If there is an error in this process or somebody drops the ball, the retailer may double-sell the item, leading to unhappy customers, unflattering reviews, and frustrated vendors. Spl.yt solves these problems by seamlessly and securely connecting inventory records and transactions across all marketplaces. So as soon as an item is purchased on one market, it is delisted from all the others. No more checking and updating multiple listings manually.
Painting the Picture
Let’s go through the process of how the global e-commerce inventory of Spl.yt works. Spl.yt’s infrastructure helps online retailers to connect to the blockchain and utilize smart contract technology for maintaining, listing, and selling the best products online. The blockchain helps with transparent and secure transactions while Spl.yt’s smart contracts enable consumers to do things like fractionally purchase any item that is impractical to buy on their own (think yachts or even planes).
You can imagine how this new tech will be useful in your daily life by accessing our alpha to imagine. There, you will see a dashboard with a user’s identifying info and stats, such as email address, wallet address of SAT tokens, and balances. Across the top are three clickable menu options: ALL LISTINGS, SUBMIT LISTINGS and MY PURCHASES. And under that is a handy search bar to help you find what you’re looking for. Once a buyer decides on an item, making a purchase is quick and easy using SAT tokens. As you can see SATs, are automatically deducted from your total balance once you buy an item. These features and more are available to any marketplace who leverages the power of decentralization by linking to our easy-to-use SDKs.
Further, if you click CHECK MARKET II, you will see how buyers are not limited to any specific marketplace as any Spl.yt-powered marketplace has the same inventory. This gives every buyer the best options for finding the best product at the best price without having to browse multiple stores.
Smooth Sailing for Sales
The alpha also shows what it would be like for a seller conducting business on Spl.yt power marketplaces. If you click the SUBMIT LISTINGS tab, you will see a simple form to enter an item’s details like title, description, and price. The form also has an optional referral reward, which can be paid to another site if they help find a buyer. In this way, Spl.yt is an automated affiliate marketing brokerage and incentive service that includes invoicing and payments. All without expensive headache of interacting with greedy intermediaries.
Like any blockchain-app, you can verify your transaction trail on the blockchain by simply clicking the CHECK BLOCKCHAIN tab on the left. And, like how buying an item de-lists it from other websites, you can see how Spl.yt automatically populates your new listing across multiple marketplaces by clicking the CHECK MARKET II. Further, because all Spl.yt payments settle upon completion, unpaid and inaccurate affiliate marketing agreements are a thing of the past. Everyone, from social media influencers to drop-shippers to individual consumers, can benefit by using Spl.yt to post listings to their websites or other social media channels.
There is another unique feature in this section: the option for “fractional sale” of an item. This feature allows consumers to buy pieces of something like they would a timeshare, which (once funded) they can seamlessly and collectively manage, monetize, and book time to use and enjoy. If you select this option, you can enter Asset Type, Yearly Cost of Ownership, and Funding Duration for a fractional item. Sellers can sell any asset for fractionally, like cars, musical instruments, season sports tickets, or even a private jet. (More details on this in another post!)
No More Marketplace Migraines
When many websites and marketplaces work together through Spl.yt, they can focus on competing on what matters most to customers — like shipping costs/delivery speed, support, niche expertise, etc. Further, independent sellers will love these features as well. For example, when Amazon, eBay, and textbooks.com are all on Spl.yt, a student selling their old textbooks can list to one website and the Spl.yt protocol will take care of the rest to make sure the listing is in front of every potential buyer. Everyone saves time, energy and money with Spl.yt!
Every marketplace worries about the threat of fraud and dissatisfied customers. They know how fake listings can scare away customers and cause unnecessary disputes, all while distracting from their quality products. Fake web-crawler/bot hits are notorious for running up click-through marketing commissions. And a hack or failure of centralized marketplaces can lose sellers’ revenue and customer respect.
Spl.yt counters these issues with token economics, decentralization, and smart contract security. In the Spl.yt ecosystem, customers and sellers can easily settle disputes through our Dispute Resolution Protocol, which ensures any complaint is painlessly and fairly resolved. Token rewards entice anyone to police spam from the comfort of their own home. And because decentralized smart contracts are always running, sellers can know commissions are only paid when due and only quality products are listed — all without downtime. Every existing marketplace will enjoy an upgrade with Spl.yt.
We are only limited by our imaginations for what is possible in Spl.yt-powered e-commerce world. Join us as we change the way people shop online. Learn how today at https://www.spl.yt/
Never this can happen, nowadays the use of electronic money is not suitable for many objects and there are many holes in the market, so we do not think that password money will replace electronic money .
The answer is no.
. The investment boom of bitcoins makes ICO (Original coin offer) in the chain zone become unusually hot, and more companies aiming at misappropriation are involved in the bubble. In addition to the platform with money, there are many MLM organizations, mixed with investors, to fraud.
. The investment boom of bitcoins makes ICO (Original coin offer) in the chain zone become unusually hot, and more companies aiming at misappropriation are involved in the bubble. In addition to the platform with money, there are many MLM organizations, mixed with investors, to fraud.
I think crypto currency can not replace fiat money. Because cryptocurrency and fiat money is diffrent. People who use cryptocurrency also use fiat money. And to buy cryptocurrency we must sent dollars from atm or paypal or etc.
We will see in next 10 years is it possible or not. WOrld change very fast, remember when first cellphone appear nobody takes it seriously not everyone has cellphone. Same history with internet and cryptocurrency.
I think that, will take over US Dollar in the online platform only. However, because fiat and US Dollar has backed by governments, so it is improbable that cryptocurrencies will replace paper money. Each economic system has "whales" who really benefit from the current monetary system. Their benefits are preserved by their governments via different ways, like the national military & central banks
Kalashnikov: crypto currency can replace the dollar
The deputy chairman of the Federation Council Committee on Economic Policy believes that states should use digital money for mutual settlements, not the American dollar, but digital money.
Sergei Kalashnikov, who also chairs the Interim Commission for Monitoring Economic Development, expressed his opinion on the international role of crypto-currencies at the conference Digital Economy in Russia. Non-standard forms of payment »:
"The situation when the dollar is a universal means of payment in international relations, tightly binds each country to the US reserve system.It turns out that one country takes on the functions of global management of the entire world financial market. Perhaps, just the crypto currency could solve this problem on more democratic and objective basis. "
Kalashnikov cited the example of interaction between the countries of the Eurasian Economic Community and noted that the asset for interethnic exchange of money should be neutral:
"We have to exchange certain denominations within the framework of the Eurasian Economic Community (EurAsEC), and we would not like to apply any national currency, for example the ruble, as a nominal, for political and other reasons." It turns out that we need some neutral universal currency that is not tied to some one country.And what could it be? In my personal opinion, a certain type of crypto currency could well become that clearing currency of mutual settlements, not only within the framework of the EurAsEC, but also in the wider context between different countries . "
In late May, the State Duma approved in the first reading three bills that deal with digital law, crypto-currencies and their turnover. Kalashnikov believes that lawmakers should create basic rules for the normal development of the digital economy in Russia:
"The fact that the proposals of the State Duma are frameworks is, on the one hand, good, since they do not impose anything, but on the other hand, they may presume the adoption of such subordinate legislation that could significantly distort the original ideas of these bills. the challenge is to propose changes to the legislation that regulate not so much the present day as the future, because the recognition or non-recognition of crypto-currency is not limited to the problem. overt direction and the vector of development in the field of the digital economy legislation. "
no. It can not replace any flat money. Altcoin is volatile, not every one wants to have high risky money. Imagine you have one bitcoin yesterday is 10,000, 3 days later costs only 6000. The deputy chairman of the Federation Council Committee on Economic Policy believes that states should use digital money for mutual settlements, not the American dollar, but digital money.
Sergei Kalashnikov, who also chairs the Interim Commission for Monitoring Economic Development, expressed his opinion on the international role of crypto-currencies at the conference Digital Economy in Russia. Non-standard forms of payment »:
"The situation when the dollar is a universal means of payment in international relations, tightly binds each country to the US reserve system.It turns out that one country takes on the functions of global management of the entire world financial market. Perhaps, just the crypto currency could solve this problem on more democratic and objective basis. "
Kalashnikov cited the example of interaction between the countries of the Eurasian Economic Community and noted that the asset for interethnic exchange of money should be neutral:
"We have to exchange certain denominations within the framework of the Eurasian Economic Community (EurAsEC), and we would not like to apply any national currency, for example the ruble, as a nominal, for political and other reasons." It turns out that we need some neutral universal currency that is not tied to some one country.And what could it be? In my personal opinion, a certain type of crypto currency could well become that clearing currency of mutual settlements, not only within the framework of the EurAsEC, but also in the wider context between different countries . "
In late May, the State Duma approved in the first reading three bills that deal with digital law, crypto-currencies and their turnover. Kalashnikov believes that lawmakers should create basic rules for the normal development of the digital economy in Russia:
"The fact that the proposals of the State Duma are frameworks is, on the one hand, good, since they do not impose anything, but on the other hand, they may presume the adoption of such subordinate legislation that could significantly distort the original ideas of these bills. the challenge is to propose changes to the legislation that regulate not so much the present day as the future, because the recognition or non-recognition of crypto-currency is not limited to the problem. overt direction and the vector of development in the field of the digital economy legislation. "
I also hope that cryptocurrency can replace more cash and be recognized by more countries. If their recommendations are adopted and applied, then I think this will allow the cryptocurrency market to take off overnight!
This is going to be a fight between USD backed by America and Bitcoin backed by all those across the world who use it. It seems in future, Bitcoin will win the fight because in my opinion, Bitcoin will be accepted by all the countries and if the prices went stable enough, I think they can think about the international trade in the form of Bitcoin. This can outshine USD. But the power behind USD will never make it happen.
Somehow, someday it will but at this rate crypto currency is getting a lot of hate coming from nowhere just maybe because it's a threat to most of the banks. But somehow the government are making some regulations to make it subtle to most of the currency in the world. It is up to the people to decide whether they want this to happen or let it just be a cryptocurrency forever but i doubt they will agree on me.
i dont think it is possible in even long term. because traditional way is always sound more safe for regular people. it will be really hard for those regular people to start using crypto currencies instead of cash.
No, I don't think that cryptocurrencies can replace the dollar, at least in our nearest future. People around the world are using fiat currencies a lot more than using cryptocurrencies, and the usability of the dollar worldwide is really incomparable to the usability of Bitcoin and altcoins.
In addition, most governments and banks still supporting only fiat currencies right now.
In addition, most governments and banks still supporting only fiat currencies right now.
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