Bitcoin Forum

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

Worldcoin

There will never be a single world currency.It doesn`t matter if it`s going to be fiat or crypto.
No country would want to lose it`s central bank and it`s own national currency.
What will happen to bitcoin?Absolutely nothing...

you are assuming that other country will use it only because it will be centralized and regulate, basically an "euro coin" that work with all the country

you see already all the issue with the euro, what make you think this will work instead? the only currency that can work a globally level is a decentralized one

But we already do have a new world order currency issued by the banks themselves. Theyre called credit cards. You can use it all over the world, its totally controlled by them, and the minute you use it its nothing but numbers in their system not backed by anything.

True, especially with the Euro-zone fails rn countries are now more reluctant than ever to give up their own currencies

This will never happen as no single country will allow a different country to work in his home at the cost of its own currency. For eg trump has said he wants to make $ strong and that's what each and every country tries to do. With the brexit looming do you think they would opt for it. Each and country has different currency and to find a common coin for them is very difficult. They earn in currency exchange, so they won't ever agree on the same coin, their earnings will be limited and the country that has all the coins can devastate the entire world economy. Sadly the one coin logic won't ever fit in

It would definitely create an impact on the world economy but still, bitcoin will retain its value even in that case because global acceptance is just one feature of bitcoin. The main reason for popularity is the complete control of the funds and even if world bank, IMF creates their own currency, it will be just another fiat IMO.

people like you who say things like this have one thing in common: they don't know what bitcoin is and most probably have never used bitcoin.
bitcoin is a decentralized currency and that alone makes it different than any other so called currency that any bank or other centralized entities create. and because of it bitcoin will always remain useful as long as it is good to use and nothing is broken about it.

IMF & Worldbank wont make a one world currency par-say.

they have/will however control, secure, be the transport conduit, and the auditor of all the future FIAT currencies that get into using blockchains.
much like merging SWIFT, RTGS and other international wire transfer protocols into one

hyperledger allows subchains(sidechains/altcoins) that are all in the end audited by the hyperledger.
hyperledger itself wont have a 'coin' but will have a ledger to list and secure the audits of the other FIAT chains that join to the hyperledger network.

IMF, worldbank and BIS wont make money just having a "one world currency". they make money on the trades (forex swaps) between the different currencies and the demand/ supply of different currencies.

so there wont be a "one world currency" but there could/would be a one world network

Nobody knows except for the New World Order organization itself. But there is one thing for sure they will try to be the number one holder of that currency that will hit the world. And they will not stop on just having the huge amount of that currency on their disposal but they will use it to get political power and control over the military, society and the financial system.

Yup this sounds like a good theory.
would I be right in saying that really this is what Ethereum primarily is edging towards?

This wont happen since not all countries would really decide to approve such idea on making a world currency.As been said above they wont decide to give up their own currency since we all know that its currency symbolizes its sovereignty and power on a certain country.

edging... yes
achieving.. no

banks WONT use any of the decentralised open altcoins or bitcoin as their mechanism.
banks will develop their own which they can control 100%. but have the 'automation' and security of auditing and transport of data features that blockchains offer.

in short making the world movements of 'money' more efficient. but still controlled by bankers

As I have read the idea behind a world currency  (http://www.thegoldandoilguy.com/new-world-currency-backed-gold-silver/) it's not new and has been a matter of discussion of many people worldwide the last years. There is an article in 2009 IMF blog about a world reserve currency  (https://blog-imfdirect.imf.org/2009/09/24/reserve-currencies-in-the-post-crisis-international-monetary-system/)after the US Dollar. Even though is quite old it refers to a truly global currency which could be a store of value disconnected from local currencies and their inherent problems. I do not think that it was by chance in January 2009 the creation of the genesis bitcoin block. On the other side it's quite obvious that governments and banks will not let bitcoin to dominate as international currency. For this reason there are already some tries from banks to create their own digital cash using private and centralized blockchains. Who will be the winner is difficult to say. But if we remember something that known entrepreneur Antonopoulos Andreas had said that in the last we will win.

...a world "reserve" currency detached from local currencies...
check out the swaps the IMF are doing.. using .. SDR's. which are then converted to local currencies.
this too will be sidechained near the top of the hyperledger pyramid

but does not mean all local currencies will go and everyone just trading goods for crypto SDR's

How many countries do you know that would give up their local currency for some one world currency and what would be the benefit of that?

You have seen what happened to the Euro when some of the smaller countries economies failed.... the Euro suffered. Can you see Muslim

countries accepting the same currency as their enemies? .....North Korea using the dollar?  

countries wont want to give up their 'local currencies' but they will join together their SWIFT, RTGS and other transfer mechanisms to get a more practical, efficient and secure method of transporting value.

but in my mind let the banks play with their closed door fiat networks.

and let bitcoin be separate as the open currency for anyone to have without all the barriers and headaches or worries of government seizures simply for not paying tax on time or having a bank charge. due to them not having privkey access to funds be default

With one global currency countries would give up power over their own fiat, they wouldn't be able to devalue this new currency.
Devaluing help balance a budget, bring down debt levels and make exports more competitive (China is doing it all the time).
Local government will lose money if they couldn't use quantitative easing as a tool to regulate their economy so they will not accept One World Currency.

I don't see this happening soon. Governments currently love their fiat and there are influential people who make most of their money from trading currencies,  they won't easily let this happen. Not to mention how hard it is to implement. When you lump economic powerhouses like Germany with laggards like Greece and make them use the same currency, you're going to have problems. Recent developments in the EU would definitely make other economic blocks like GCC and ASEAN think twice before adopting a single currency.

All one has to do when thinking of a One World Currency is look at what the Euro has done to most of Europe. And that's a fairly homogenous bunch with economies that aren't too out of kilter with each other.

What works for Canada might not hit the spot for Suriname.

IBM highly involved in hyperledger
http://www.the-blockchain.com/2017/02/02/nine-ten-governments-investing-blockchain-2018-says-ibm-study/

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http://www.coindesk.com/central-banks-hyperledger-blockchain/

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http://www.ibtimes.co.uk/hsbc-bank-america-merrill-lynch-use-hyperledger-project-blockchain-based-trade-finance-1575269

The world today is ruled by egos of world powers and even IMF or world Bank decision is not even final as we have seen countries pull out of world bodies if they feel their interest is not being protected and same thing might happen if they propose such. How do one explain how USA and Russia of China will agree on particular currency, I doubt if that will ever happen...

what you dont realise is while fox news is screaming BOMB THEM BOMB THEM BOMB THEM
america is doing trade deals with them.

EG
IMF had the UK and america in thier SDR pool. and in october 2016 they added china.. http://www.imf.org/en/News/Articles/2016/09/30/AM16-PR16440-IMF-Launches-New-SDR-Basket-Including-Chinese-Renminbi

secondly russia. while people think america hate russia and sanctioned them and removed visa/mastercard utility, stopped trade deals, blah blah blah.. america actually done trade and actually done deals giving russia money.
EG
international space station supply and maintenance funding(while cutting U.S's own NASA funding)
other things like you can buy iphones, mcdonalds and many other american things in russia.
http://www.reuters.com/article/us-mcdonalds-russia-idUSKBN15F111

TOTAL year 2000    imports:2,092.5m    exports:7,658.5m    
TOTAL year 2013    imports:11,144.7m    exports:27,085.7m
    
so avoid fox news

It is possible to collaborate certain countries and make a union and can replace their national currency with a common currency but to create a single currency for the entire world is not a possibility when it comes to economic feasibility.Either every countries economic situation must be at par with each other and that is not the case in the real world scenario and so bitcoin is by far the only possible world currency which can be adopted by anyone in the world without any boundaries. :)

They are welcome to create new currency, but I am not sure there will be people interested in this currency, it is better to used bitcoin where the creator is not from the government institution, so if IMF or world bank created a currency, I will still stick to bitcoin, maybe some people will change to the new currency but I believe many people will still used bitcoin

Is the Hyperledger centralized? I dont think the banks will use something that they dont have some control over. Although credit card transactions that are recorded on Hyperledger would be a God send to them. A cashless society that is well very controlled solely by the bankers.

hyperledger is a multichain ledger. its only going to be used behind the scenes by those authorised to use it. but becomes unhackable because the data of hyperledgers main chain is distributed aswell as each chain is distributed. .but because only certain people have direct access its not 'openly public'

There is this transcript wich is good to read from the IFM One World, One Currency: Destination or Delusion? November 8, 2000 (http://www.imf.org/external/np/tr/2000/tr001108.htm) It's an old one from the year 2000 but very interesting. It's a long one but i really advice you read it

Global currency means that the country has to give up it's own local currency and i don't think any country want to do that. They want their currency to be superior than the others to show their power to the world.


this is a good read and i agree with this particular statement. "One world, one currency" could exist in a dictatorship or a world empire, but I couldn't imagine a world democracy with a single currency. I couldn't imagine that system.

i don't know about this but to introduce a new currency for all country, there will be a big conversation from each of leader of the country to approve the new currency so that currency will be applied in all country. but i don't think that this will be made in short time because for now, the situation and the condition for each country is not unite and they need to talk in wide forum or have conversation together to approve new currency. before all country is unite and work together, there will be no new currency for all country and each of country will use each currency for their country and for their citizen.

That's profound, I can't phantom why people keep coming up with the idea of one world currency, we are not the same economically and so we can't run all economies together as if they of a single nation so this idea won't wash. It's deadly and might render global economies in tatters just like Europe.

I have done some browsing about Hyperledger and came across on a write up about R3 giving up and stopping blockchain development. I want one thing clarified. Is R3 somehow connected with the Hyperledger project?

It depends on what they decide to use and what they came about after their extensive deliberations and analysis. However, irrespective of the currency they agree to use, I believe there will be room for other currency to be used and that where bitcoin comes in. And it would be a better thing in the crypto-world if they can just adopt bitcoin as a form of currency because anything they will be implement to go across borders of countries is already being done by bitcoin.

An interesting example could be Montenegro (South Europe, little country). They had their currency (or common currency with Serbia), but the country decided to use EUR. They're not part of the EUR monetary union, so officially they can't use EUR but people and the companies, banks are using it in everyday life, also the government. If a country wants to use a currency, they can. They just can't influence the currency with the normal cental banks' utilities like if it was their national currency.