Are we a global village that needs a global currency?

[EvaGC]

1 in 5 US households has a foreign-born spouse.

In the UK more than 1 in 5 households has a foreign-born spouse.

3%+ of the world’s total population live outside their country or origin.

1 in 6 Irish live abroad. More than 1 in 10 Kiwis, Mexicans. Polish, Lithuanians live abroad.

4% of the international student population study abroad, with a 12% yony increase expected.

Millenials are changing the world - in the US alone, known for its insularity, 59% of millenials say they would move to another country for work. New family groupings, and family members working abroad change the nature of currency flow.

And for tourists: in 2015 over 1.3 billion people travelled abroad. That compares with 0.6 billion in 1995. Global threats are not deterring us from exploring beyond our local boundaries.

So the stats show how we are living / working / studying / travelling abroad more and more; creating that global village which enriches the individual’s experience. But do we need a global currency? Our ‘home' local currency pays the groceries and local bills. But our personal needs for goods; services; and family money transfers demands a global currency.

The 2-5% ‘service charge’ of using a domestic bank card abroad has sent the savvy towards multi-currency cards, to cut transactional costs. The next step, and the real game-changer, will be a way of paying and receiving ‘one currency’ across borders easily; cheaply; securely; fast.

That really useful ‘one currency’ may be different in different global zones; it may be different for different demographics. But it won’t be just the currency of one country, one FIAT currency. And it won't necessarily be the zeitgeist favourite BTC, either. It will be a 'currency' that has evolved from the traditional banking world, where there is familiarity and trust; and where a specific community can use it freely and fully. I think the 'global currency' will in effect be a currency basket - a portfolio of selected FIAT (and in the future, crypto) currencies. The type of portfolio currently held by Central Banks and UHNW individuals - but not yet the man in the street.

We have carried out extensive research on currency needs, and we want to be led and directed by demand for different currency baskets, and offer an infrastructure ready to respond to the changing face of the global village. That’s what we mean by a global currency. 

Written by Linda Leaney - Globcoin CFO

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[nastaverba]

Maybe one day it's possible 

[Raist]

Last time the person who was talking so clearly about one currency based on the bunch of traditional currencies took some time figuring touching aspects of their relationship with the maids. And last company pretended to "change the world of online payment" is now charging more than Visa (and on Ebay much more than visa and mastercard). We shall see how it turn this time.

[zoro katana]

The concept is very good, with the global currency of course will be many much benefit we will get, we can fullfil the needs of funds wherever we are, of course it can be realized by the strong facility and extensive network to support this concept, it also requires security in every transaction, if all the factors that can be realized, of course the global currency can be realized, very revolutioner concept, I hope someday it happen

[JainaVsUther]

EvaGC.. you say this currency will come from the "trusted banks". It is because of these "trusted banks" that was the reason Bitcoin was created in the first place, because the world community has viewed that there are no such thing as trustworthy banks. You're right in that a global currency will come from the community, but in my opinion it will have nothing to do with banks, in fact as far as possible this global currency should be removed from established governments and banks, and be run by and for the people.

It might not be Bitcoin as you say, since this coin has too many political and development issues, but it will be a decentralized currency not belonging to any central body.

[posi]

EvaGC.. you say this currency will come from the "trusted banks". It is because of these "trusted banks" that was the reason Bitcoin was created in the first place, because the world community has viewed that there are no such thing as trustworthy banks. You're right in that a global currency will come from the community, but in my opinion it will have nothing to do with banks, in fact as far as possible this global currency should be removed from established governments and banks, and be run by and for the people.

It might not be Bitcoin as you say, since this coin has too many political and development issues, but it will be a decentralized currency not belonging to any central body.

You're right mate. Although, I like the purpose of creating a global currency which will be cheap, secure, fast and easy to use. But, after reading what the OP wrote it seems like the coin won't be decentralized? No true cryptonier will be in support of that.

[slaman29]

EvaGC.. you say this currency will come from the "trusted banks". It is because of these "trusted banks" that was the reason Bitcoin was created in the first place, because the world community has viewed that there are no such thing as trustworthy banks. You're right in that a global currency will come from the community, but in my opinion it will have nothing to do with banks, in fact as far as possible this global currency should be removed from established governments and banks, and be run by and for the people.

It might not be Bitcoin as you say, since this coin has too many political and development issues, but it will be a decentralized currency not belonging to any central body.

Exactly! The entire point of Bitcoin was to eliminate the need for trust... because all trust systems are not foolproof. They will fail at some point, at any point, and this failure will always result in someone becoming the victim. Bitcoin took away this problem, and it has made a lot of people understand finally how they had always been wrong to trust banks or other authorities with money. Governments and banks have stolen, misused and misappropriated the funds of their citizens and their customers. Ask the clients of banks who closed down. Ask investors whose banks lost money in giving out bad loans. Ask people who tried to withdraw their cash savings and found their countries were bankrupt.

[borulce]

I think we are living in a global village that DOESN'T NEED global currency. Havng as much as local coins is better in the long run similar to having different radio or tv channels or even websites. On special fields.

[NathanJB]

1 in 5 US households has a foreign-born spouse.

In the UK more than 1 in 5 households has a foreign-born spouse.

3%+ of the world’s total population live outside their country or origin.

1 in 6 Irish live abroad. More than 1 in 10 Kiwis, Mexicans. Polish, Lithuanians live abroad.

4% of the international student population study abroad, with a 12% yony increase expected.

Millenials are changing the world - in the US alone, known for its insularity, 59% of millenials say they would move to another country for work. New family groupings, and family members working abroad change the nature of currency flow.

And for tourists: in 2015 over 1.3 billion people travelled abroad. That compares with 0.6 billion in 1995. Global threats are not deterring us from exploring beyond our local boundaries.

So the stats show how we are living / working / studying / travelling abroad more and more; creating that global village which enriches the individual’s experience. But do we need a global currency? Our ‘home' local currency pays the groceries and local bills. But our personal needs for goods; services; and family money transfers demands a global currency.

The 2-5% ‘service charge’ of using a domestic bank card abroad has sent the savvy towards multi-currency cards, to cut transactional costs. The next step, and the real game-changer, will be a way of paying and receiving ‘one currency’ across borders easily; cheaply; securely; fast.

That really useful ‘one currency’ may be different in different global zones; it may be different for different demographics. But it won’t be just the currency of one country, one FIAT currency. And it won't necessarily be the zeitgeist favourite BTC, either. It will be a 'currency' that has evolved from the traditional banking world, where there is familiarity and trust; and where a specific community can use it freely and fully. I think the 'global currency' will in effect be a currency basket - a portfolio of selected FIAT (and in the future, crypto) currencies. The type of portfolio currently held by Central Banks and UHNW individuals - but not yet the man in the street.

We have carried out extensive research on currency needs, and we want to be led and directed by demand for different currency baskets, and offer an infrastructure ready to respond to the changing face of the global village. That’s what we mean by a global currency. 

Written by Linda Leaney - Globcoin CFO

Well, to be fair, I like the way you use hard data through statistics to back up what you are promoting. But it would have been much better if you included in your claims the sources of such numbers. These are data that covers the whole world. I hope they're not just made up figures just to be able to appear convincing and realistic. But apart from that, I truly believe in your idea at least. 

[leea-1334]

We do not need a global currency, but that would be very useful. But we are not at that stage yet. The problem is we are all living in our little bubble where we think we know how things work. But the reality is that currency does not work the same way in every part of the world. In fact, in some parts, people do not use currency, and it other parts people only trade value. This is not to say the idea is not a good one, a good global currency is one that frees people not restricts them. So it should give options, not force them to use it.

[EvaGC]

EvaGC.. you say this currency will come from the "trusted banks". It is because of these "trusted banks" that was the reason Bitcoin was created in the first place, because the world community has viewed that there are no such thing as trustworthy banks. You're right in that a global currency will come from the community, but in my opinion it will have nothing to do with banks, in fact as far as possible this global currency should be removed from established governments and banks, and be run by and for the people.

It might not be Bitcoin as you say, since this coin has too many political and development issues, but it will be a decentralized currency not belonging to any central body.

Fair point. I hear ya'.

Just to make clear: I did not write this, if you read the last line, I quoted it from the company's CFO.

I think what they mean by "global" is that their cryptocurrency will be used across the globe with none or little transaction fees and eliminating all the issues that comes with currency exchange when you leave your homeland or do businesses. I don't think they mean as the "romantic" global currency that first comes to mind to crypto-people.

But I see your point that it's a bit confusing

[preshpr1nce]

If we look back in history, there has been multiple attempts to push a one world currency, the people who oppose this do so due to the obvious issues that come from such a centralised power.

We now have bitcoin which you could almost call a beta test for a global currency, the same people in the past who opposed a one world currency are now the ones adopting bitcoin (the we hate bankers types)

Another issue with current currency is no history of currency outside of the banking world (cash etc), this removes some power from the centralised bankers.

Now lets look at bitcoin/crypto, we say it's decentralised but what makes a currency truly decentralised? the network it operates on or the spread of wealth? if the current power holders want to they can buy up most of the crypto market, once you own majority of any currency you can control it.

So is a decentralised network really a threat to the banking elite if they control majority of it? I say no, it's an improvement to their current model as ALL currency on the planet can be accounted for (privacy coins will do their best to help with this)

To me it appears to be the grand deception, we're adopting a one world currency or at least beta testing it.
I'll ride the wave, if it's going to happen it's going to happen.

Any one else got views around this?

[Lazinne]

I think we're gradually getting the point where a global currency will be inevitable.

[alyssa85]

Given the problems we've seen with the euro (look at the devastation of the Greek economy), having a single global currency would be like the euro but a million times as bad.

The world is better off where individuals can choose what currency they use, including teh right to choose many cryptocurrencies. Having just one causes problems.

[Idrisu]

1 in 5 US households has a foreign-born spouse.

In the UK more than 1 in 5 households has a foreign-born spouse.

3%+ of the world’s total population live outside their country or origin.

1 in 6 Irish live abroad. More than 1 in 10 Kiwis, Mexicans. Polish, Lithuanians live abroad.

4% of the international student population study abroad, with a 12% yony increase expected.

Millenials are changing the world - in the US alone, known for its insularity, 59% of millenials say they would move to another country for work. New family groupings, and family members working abroad change the nature of currency flow.

And for tourists: in 2015 over 1.3 billion people travelled abroad. That compares with 0.6 billion in 1995. Global threats are not deterring us from exploring beyond our local boundaries.

So the stats show how we are living / working / studying / travelling abroad more and more; creating that global village which enriches the individual’s experience. But do we need a global currency? Our ‘home' local currency pays the groceries and local bills. But our personal needs for goods; services; and family money transfers demands a global currency.

The 2-5% ‘service charge’ of using a domestic bank card abroad has sent the savvy towards multi-currency cards, to cut transactional costs. The next step, and the real game-changer, will be a way of paying and receiving ‘one currency’ across borders easily; cheaply; securely; fast.

That really useful ‘one currency’ may be different in different global zones; it may be different for different demographics. But it won’t be just the currency of one country, one FIAT currency. And it won't necessarily be the zeitgeist favourite BTC, either. It will be a 'currency' that has evolved from the traditional banking world, where there is familiarity and trust; and where a specific community can use it freely and fully. I think the 'global currency' will in effect be a currency basket - a portfolio of selected FIAT (and in the future, crypto) currencies. The type of portfolio currently held by Central Banks and UHNW individuals - but not yet the man in the street.

We have carried out extensive research on currency needs, and we want to be led and directed by demand for different currency baskets, and offer an infrastructure ready to respond to the changing face of the global village. That’s what we mean by a global currency. 

Written by Linda Leaney - Globcoin CFO

From all indications the world now is a global village and that means we would need a global currency! Bitcoin actually fit in to that kind of currency and we should need to work hard to build a blockchain technology to unit the whole world. Leaders around the world gather on Monday to discuss globalization and we should not expect that there is going to be a globalization without unified currency.

[Jack.Doe333]

We are moving to and fro as you mentioned and that is why we need global currency

[Veidt]

A global currency will be followed by a one world government. Thats where we are heading.

[patrik58]

when EUR was introduced we have more freedom to travel and not think of 'local' currencies so there is doubt

[urikmarkov]

A global currency will be followed by a one world government. Thats where we are heading.

Not necessarily. Crypto is managed without world government. Though they may want ride crypto as a horse  I do not think they will succeed

[deepcoreotc]

And that is why the Dollar and the Euro are so big and thats also why people use debit and credit cards.