What will happen if we use a one currency only?

[FLoving]

One currency for all the nations of this world is a great idea it sounds like a unity for different races of human. However, there are flaws in this kind of unified system in terms of the one who will handle the authority over to that currency, they will be granted the power to control and to enforce law over to that fiat and we have to submit to it no matter what, even it is a bad law because that is the only money that the world accepts. For now it is impossible to implement that and I disagree with that kind of currency system

This will unifies the world economically but it will take a lot of time to unite the whole world on the basis caste, creed and color. It is very difficult to unite the whole world only on the basis of currency. People have different mindsets, they belong to different religions and different cultures. Although bitcoins will help to globalize the world.

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[Sled]

One currency for all the nations of this world is a great idea it sounds like a unity for different races of human. However, there are flaws in this kind of unified system in terms of the one who will handle the authority over to that currency, they will be granted the power to control and to enforce law over to that fiat and we have to submit to it no matter what, even it is a bad law because that is the only money that the world accepts. For now it is impossible to implement that and I disagree with that kind of currency system

This will unifies the world economically but it will take a lot of time to unite the whole world on the basis caste, creed and color. It is very difficult to unite the whole world only on the basis of currency. People have different mindsets, they belong to different religions and different cultures. Although bitcoins will help to globalize the world.

The only problem that we have is communication. Different countries, different people, different culture, different tradition and last but not the least is the different languages and that is the most important that we need if we are going to have one currency because if we have one language then understanding other and then the mindsetting and getting agree to each other is easy.

[Kiweikoo]

Countries will never agree to that. Governments need regional control and need a means to adjust this (by having their own currency) if everyone uses the same currency, there would be more unemployment and financial mayhem overall

Yes I agree with you 100 percent that the governments all over the world would be many obligations about bitcoin as a one digital currency all over the world. Different currencies are the sign marks of the countries.

So I also think that all the governments will never agree on this that bitcoin should be the only usable digital currency all over the world. Wait for future and see the result.

[olubams]

One currency? This would be a landmark achievement but the practicability of it is what I am not envisaging happening in that even if government is ready to implement such (which is likely impossible), I don't see how citizens will accept because of the religious connotations that will bring and what people attach to such prophecy and its implications as well.

[streazight]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

I see it can help bring a leveling playing field globally most especially when it comes to importation/exportation. However, there is what they call currency risk in international trade (you can google to browse more about that) and it is obvious that the developed countries will benefit more.

Now, this is in terms relating with traditional currency such as USD etc. However, relating it with bitcoin being a decentralized currency, we may however see almost the same thing but since it cannot be controlled, then we may see different outcome. Nevertheless, I do not see situations like this playing out as it is quite impractical.

[danim1130]

for sure the government will just manipulate the price of it though the people will be unite and will make more understanding to each other but the point here is the government they will absolutely do whatever they want for sure.

[severaldetails]

I am a big fan of diversification and risk minimizing.
Using one currency only creates a bottleneck, a vulnerable spot in the economy.
I think for every important structure a backup is needed. That counts for currency systems as well.

[JTASSOCIATES]

First of in this world no country is going to united with out boundaries so every country will have their own Identity through the countries currency only. So there will be no exchange income and taxes how you differentiates this basic things also not how we controlled.

[Fatunad]

for sure the government will just manipulate the price of it though the people will be unite and will make more understanding to each other but the point here is the government they will absolutely do whatever they want for sure.

Who would be that government?What country would hold up the dictation or hold up the ruling? Having once currency would really create chaos knowing that not all leaders of each country would unit on their own the same motives or will.There would really be people would raise up their hands to have the control or governance.Local fiat currencies signifies power and i dont see this thing to happen.

[MOTHIT]

If we use a one currency ONLY there will be no foreign exchange. How you evaluate and compare the money. Simply saying final exam without result and showing. Finals ends without knowing who is the winner

[palle11]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

One currency I think will lead to monopoly and this is an easy way for the few to control majority. Monopoly itself is corruption riden. So, one currency in my view won't really be nice as it won't lead to choice and when you don't have choice, that means being caged.

[Inkdatar]

First of in this world no country is going to united with out boundaries so every country will have their own Identity through the countries currency only. So there will be no exchange income and taxes how you differentiates this basic things also not how we controlled.

If we use one currency only we have no choice as to follow the rules. But in this case yes you are right in every country there is no identity happen. So it is best to stay as is now that we have different currency in every country.

[_Dawid_]

Many of us currently appreciate the variety of currencies. Because for some independent nation should have own currency, for others number of curriencies is the number of potential investment on many exchanges.
But for majority, one common currency would bring many advantages and benefits. The Europe is interesting example, in countries who have the same currency(EUR) the companies have opportunity to trade without loss because of spread in exchanges, the comparing salaries etc. is much easier, and more you will be able to find in wikipedia. So we can boldly say that one currency should in theory bring more good for majority.

[faceoff97]

There may be probably good advantages when thete will be one currency like the ease of transaction and trading without loss, but it may also leaf to monopoly where the control is for only the few. Rich will become richer and poor becomes poorer. And alsi, I think having one currency will just lead to chaos. Having one currency in the world is only through cryptosystem. But the traditional currency will never be change anymore.

[Sled]

There may be probably good advantages when thete will be one currency like the ease of transaction and trading without loss, but it may also leaf to monopoly where the control is for only the few. Rich will become richer and poor becomes poorer. And alsi, I think having one currency will just lead to chaos. Having one currency in the world is only through cryptosystem. But the traditional currency will never be change anymore.

If we have one way of communicating to other people where we can understand each other despite of the different countries that we came from and our traditions then we can rely on one currency but if we don't have one currency only then like you said, it will only lead to chaos because people will just panic since they don't know how to transact and it will become a long adjusting stage for the other people who can't even speak english.

[GreatArkansas]

I think this can't be applied. One of the problem will be the traffic on network. Huge traffic incoming if this will happen.

[iyan33]

Although bitcoin is growing so rapidly but it becomes a legal currency and means of global payment transactions will require a wiser consideration because it will only lead to financial instability from various countries and can be a monopolistic practice of finance from some developed countries that have been legalized first against bitcoin

[krigger]

Will never happen. It is always possible to create new cryptocurrencies. There will always be new ones coming out all of the time.

[smile1218]

If the world will use one currency only it would be easier to transact to different parts of the world the value is fair for everyone and no country is going to be poor because no need for exchange rate everybody will be a successful country.

[entrepmind23]

If the world will use one currency only it would be easier to transact to different parts of the world the value is fair for everyone and no country is going to be poor because no need for exchange rate everybody will be a successful country.

Well there would be no need for exchange rates because all the countries in the world will have uniform currency. The issue of import and export charges would be solve because there is no problem in converting the currency. The problem with this is that who would be the one who would manage the printing of money. There should be a federal reserve of the world or a bank version of united nations so that there would be proper handling of the transactions.

There is a possibility of corruption still but then whether there is the same or different currencies, it still exist and this would only be eliminated if all the transactions are transparent like in blockchain technology where the transactions are traceable. It would be doable but I don't think all countries would agree to have the same currency because it is one of their pride having a higher value than other currencies.