Well, not entirely for every transaction of course. But no doubt, some trades that would otherwise been made in dollars were instead transacted using bitcoins.
Currencies compete for transactions in an eternal race against older, more established, and newer, more innovative currencies. Since traders are free to agree to use the best version of currencies for their transactions they sometimes choose BTC over their next best solution, say the USD. In that sense, the Bitcoin then replaces the US dollar per transaction.
Topic: Crypto currency can replace the dollar - page 6. (Read 585 times)
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. "
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. "
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