What will happen if we use a one currency only?

[traderethereum]

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

It is not good and it will not be a good benefits for every country to contain a one currency. Every country have different value when it comes to their monetary. It will not become more productive for everyone.

I believe also that it will not result for a productive way for everyone because that is now how the world works. It needs a lot of difference for the world to work well because if the world will have one currency then all of the people will be just equal which is not the best thing to happen since people will not obey the others command if they are just equal at the same level.

i am agree with every country have different value and it is true, there will be a gap for the people in each country and they will live in the country which have many of source so they will use it to earn money. i think its related with the money for them because with the many of source that they can use, they can be able to do many things to make money which is their primary needs to continue their life. and because of this, the country which have power will become more powerfull because they have the source and they have capability to conquer the weak country.

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[Bluestreet]

If there will be a single currency it will come with advantages and disadvantages both.   It will benefit the local people they will roam any country's without the need to exchange their money in country one.  Their will be no transaction fees imposed.  Banks will go in  loss.  Less interest rate will be there.  Although it may not benefit economy but it will benefit the people.  Talking about its disadvantages,  this will boost confidence of criminals.  They will flew with the illegal money anywhere and start new life.  They can use it for illegal purpose.  For paying terrorism.

[kateryana81]

this is impossible. because every country has its own trade volume. even if we use the same currency, the value of the volume in each country will not be the same. it creates a problem that system.

The world will be like a local market and all the people can buy and sell their needs to anybody in the world without exchanging their money. I think that will be a dream world that all the people in the world will use only one currency. I will feel that I am purchasing in another city of my country if it is out of the country. I will feel so much excitement while using one currency all over the world.

[Altero]

Actually no matter how I like the idea of Bitcoin, I would not want to have it to be the only currency. Because there are different factors that affects each country's economy and this their currency. If Bitcoin will be used alone, then it will be more volatile.

Of having a single currency used, we can't assured that everyone  would be comfortable for this. This could make trouble to the community as they had already satisfied before. Even though this just a speculation, but still we can't ignored this and possibilities to happen as it will continue grow and consistently on top.

[richmcrich]

there may not be developed countries and developing countries are usually influenced from the currency itself, it's good also everyone uses the currency only one they will not seek to another country

How do you see it when everyone discovers that someone in their position is being paid a bigger amount in a different country, do you think that’s really good? Everyone would want to migrate to the country that pays a bigger amount. Well, not really that, I’m just not in support of a one currency.

[ramsdaj28]

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

That would probably lead to a lot of economic problems - high price of product, weak economy, corruption, etc. One of the things that gives essence to economy is the currency of the different country. Dollar is the father of all currency in the world (as to bitcoin in cryptocurrency). If there is only 1 currency in the world, there will be no trading of money between countries, and countries will not progress in terms of its economic status, especially those under-developed and developing countries. And the worst thing, money (dollar, in this case) will lose its value since there is nothing to compare it (imagine all people eating same food). What is the sense of using a single currency in different countries? Nothing.

[AriannaSantosUU]

Today, i think it appears that implementing a single  or only one currency worldwide is impractical. It may lead to considerable advantages but also disadvantages. But if we force a single and only one currency, it would lead to harmful effects than good.

[shezu007]

Today, i think it appears that implementing a single  or only one currency worldwide is impractical. It may lead to considerable advantages but also disadvantages. But if we force a single and only one currency, it would lead to harmful effects than good.

if all the world will start using one currency then it will give a big profit to all the users because no one can change currency in any other country and this will protect him from paying taxes to exchanger and also people will be able to pay anywhere in the world form any country so this will be great facility for all people.

[jagmrx]

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

That would probably lead to a lot of economic problems - high price of product, weak economy, corruption, etc. One of the things that gives essence to economy is the currency of the different country. Dollar is the father of all currency in the world (as to bitcoin in cryptocurrency). If there is only 1 currency in the world, there will be no trading of money between countries, and countries will not progress in terms of its economic status, especially those under-developed and developing countries. And the worst thing, money (dollar, in this case) will lose its value since there is nothing to compare it (imagine all people eating same food). What is the sense of using a single currency in different countries? Nothing.

Well, that would be something very unique. But by the way, if we talk about it I remember the conspiracy theory of the one world government. In many European countries, this is already applied and their currency is only one, that is Euro. Maybe it can happen, but it will take a long time and gradual effort. What will happen if that happens? To be honest, I do not know. But now we are familiar with some popular currencies and used by many people. Among others: Dollar, Euro, Bitcoin, and so on.

Typically, the price of such a currency will be very expensive when compared to currencies in thirld-world countries.

[katiecbell]

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

It is not good and it will not be a good benefits for every country to contain a one currency. Every country have different value when it comes to their monetary. It will not become more productive for everyone.

I am sorry but I have entirely different opinion and what I believe is that we are already living in global village and we believe that our world is turning into global village. We are now living in digital community or era and here people travel a lot.

It is really big issue for these businessman to convert their country currency into the one where they are travelling to. Using just one currency will help travelers a lot on their business tours.

[YourCoinIsMine]

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

All other coins became worthless and one as bitcoin is may be 20k each.

[jonnybravo0411]

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

Well, now almost so it is, the national currency in relation to the two most advanced is the euro and the dollar. And it is on this indicator that one can understand how much local currency is good or vice versa with respect to the dollar. Translate all into dollars and all you can, only then will there be a complete collapse in the economies of many countries.

[Darknight31]

Corruption is always there especially if the government are involved with huge lump sum of money involved, so either we are using one currency or a lot of currencies it does not really matter if corruption is involved. But if ever we would be using one currency I think mass poverty would take place plus the economy would go bad for sure.

I guess corruption will prevail if we use one currency only. And people will experience poverty in exchange for the idea. The goverment will always be present to interrupt all the transactions of the people. Unlike if we have multiple currency, even though there are still corruption present atleast people will still live.

[johny1512]

if we use only one currency this will make corrupt people to do more corruption because as you said if we start using dollars then countries which are poor eg pakistan the politicians are corrupt and if dollars will be the currency they will start corruption in dollars which will cause huge loss to the countrys economy

[thoerz18]

Of course, the application of a single currency system across the globe will bring no small change; if it can not be said the change is unfair. One of them is developed countries will benefit massively because there will be no more currency risk in the international trade arena. There will also be changes in the global game arena as countries such as China will no longer be able to capitalize on the exchange of currencies to leverage their goods in global markets.

[eshkikay]

which happens if we only use one type of currency is going to disappear the trade market and the trading will disappear,
because we do not have competition or currency benchmark it ..

If we use a one currency for whole world is also not a good idea which has been repeatedly avoided by developed world nation it can take steps to deflate it currency making it cheaper and therefore make it export more appealing to other countries with only one global currency having single currency is not enough to raise a question you also have to state of countries have the right to print their own currency if people of one country can go and buy or sell in another country without any cess or taxes people are free to invest in any country.

[resty]

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

In our case in Philippines, we are not so glad about that system. There are many Overseas Filipino workers in the other countries that are working for their families. They are very glad when the time comes that they will send their money to their family for it will be change into a higher value when it has been converted into peso. In fact, one dollar is equal to 50 pesos here on Philippines and it was a great opportunity for many families here. So I personally about having one currency.

[Rostadom]

There will be some problems with the distribution of wealth. For example, are they going to give each country the same amount of that currency. Or are people are going to buy it and it will have a supply and demand going on. The money that we have right now will be such a waste of resource because it will have zero value. The equipment that was made to create those money will just be disposed since it doesn't have any other use as well as the money itself.

The new universal currency is probably going to be a digital one and people have to convert their fiat money into it. But if fiat essentially doesn't have any value, how much would be the equivalent of it to the new currency. There will be people buying that currency earlier than everyone else and be able to buy it at a lower price. The people that have been left out are prolly going to be people that doesn't have a strong internet connection. They are the poor ones. They don't have that much money to convert and by the time that they are about to convert to that certain currency, the price has already risen a lot. So they are even more poorer and the rich people are even richer.

There's this imbalance distribution of wealth that's going to happen for sure. I don't know what it is but it's hard to distribute something to each and every single person in Earth since everyone's going to convert their money into the new currency.

[ranz_18]

There will be some problems with the distribution of wealth. For example, are they going to give each country the same amount of that currency. Or are people are going to buy it and it will have a supply and demand going on. The money that we have right now will be such a waste of resource because it will have zero value. The equipment that was made to create those money will just be disposed since it doesn't have any other use as well as the money itself.

The new universal currency is probably going to be a digital one and people have to convert their fiat money into it. But if fiat essentially doesn't have any value, how much would be the equivalent of it to the new currency. There will be people buying that currency earlier than everyone else and be able to buy it at a lower price. The people that have been left out are prolly going to be people that doesn't have a strong internet connection. They are the poor ones. They don't have that much money to convert and by the time that they are about to convert to that certain currency, the price has already risen a lot. So they are even more poorer and the rich people are even richer.

There's this imbalance distribution of wealth that's going to happen for sure. I don't know what it is but it's hard to distribute something to each and every single person in Earth since everyone's going to convert their money into the new currency.

If we use one currency only, loss of Import-Export businesses are possible to happen. Since they are profit-based, having a single currency for the whole world would not be a great incentive, because these businesses often rely on the value of certain currencies going up in the future.

[Sophia29]

It will be not good in some already rich country and not good also in some developing and poor countries to have one type of currency, i found the idea chaotic.