Why the global currency cannot be 100% internet based and if we will have one

[justspare]

I believe the world has really advanced and technology has taking over. There is literally no country that does not have internet services and if your fear would that the currency can be targeted or shut down, I think that is not possible. To shut down the internet worldwide will not be an easy task.

The US dollar for example is already considered a Global currency, although it does not hold an official title yet, it is used more on the internet for various transactions than even the cash, the only difference it has from bitcoin is that it is not decentralized and this is what makes Bitcoin has an edge over it. I think having a global currency that is 100% internet based, either in form of Bitcoin or USD would not be a problem at all.

Almost everyone is acquainted with the internet now, it will only take a little time to pull people out of the old system and introduce the new payment method.

[Malsetid]

When you say global currency, that would transcend national borders. It would include places where internet connection would be scarce so there's going to be a problem there already. And that's also going to be a challenge since many countries would oppose to have a singular currency without their own.

[Chikitita2004]

So you mean to have a one single currency for all the countries in the whole world? I don't think its possible. If it happens there would also be a one world government to have a one global currency and if it is global then it must be internet based to be able to move from one place to another to transfer from one country to another but from my point of view it is impossible to happen.

[Reid]

It wont happen even in internet.
It is like wishing for peace in the world which is impossible too.
Too many opinions and people have high prides by now.

Governments which would do anything to keep themselves on the top and would declare war if their currency value falls.
The world started with colonization and so it is by now. Who will vote for one country to be the leader of all? I doubt they will vote something else rather than their own.

Same with internet currencies. Banks would want to dominate it by using credit cards. Then there is Paypal and a lot more option. So conclusion will be: We will be dead and there wont be much changes and even our grandchildren will still see it.
So you should not stress it by now and just use what you can.

[Kimonoe]

So you mean to have a one single currency for all the countries in the whole world? I don't think its possible. If it happens there would also be a one world government to have a one global currency and if it is global then it must be internet based to be able to move from one place to another to transfer from one country to another but from my point of view it is impossible to happen.

of course every country wants to have its own independence in terms of currency. I think it will also be difficult if one currency for the whole world, of course not all countries have good relations, I think there will be more contra

[Ozero]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

Very vague express and argue your opinion. What do you mean by global currency? The currency that most states would use at the international level has always been. Before paper type dollars, the euro, mankind has always used gold, silver and precious stones. Therefore, do not reinvent the wheel. It is unlikely that a currency based on the Internet can have a global status that would be recognized by most states. As for the cryptoaalyutics, it is not so simple. Let's see what will happen next.

[redsun114]

I don't think if we have a global currency it would be internet based, the government needs this money to be able to reach everyone in the world, and for the fact that you have access to internet all of the time doesn't mean that another person somewhere else has this kind of access, so I believe they are going to consider all this and make the currency fiat and not internet based because a lot of persons will not be able to have possession of this money if it's internet based since not all regions has internet connection.

[Adriano2010]

I think only if governments want we can have a global currency, but i don't think this will happen, most countries want to have their currency so they can control better the economy because maybe they are not yet prepared for a global currency.

[Mila52]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

Very vague express and argue your opinion. What do you mean by global currency? The currency that most states would use at the international level has always been. Before paper type dollars, the euro, mankind has always used gold, silver and precious stones. Therefore, do not reinvent the wheel. It is unlikely that a currency based on the Internet can have a global status that would be recognized by most states. As for the cryptoaalyutics, it is not so simple. Let's see what will happen next.

It's impossible.If a global currency will be, it will be regulation and centralizetion. I think this idea is not real. Many countries have different levels of economic development and wealth. You forget about the countries where are taking place a  local hostilities and political crises . You are talking about electronic payments and the Internet but not one remembered about electricity! Disconnect power supplies and your gadgets will be useless without recharging.

[Bezobraznike]

   We have the European union already with Euro. Many countries included and they use same currency.
I know it cannot be called as globality, but it's kinda the brightest example for today.
   All countries of the Unity can basically use crypto currency in future, but I doubt that it will be spreaded whole world wide.
Today we may watch too greedy and powerful people in the top of ruling elite in some countries who will never support globalization and one currency, it's just not in their interests.

[CryptoBry]

If there would be a global currency it would be on the internet since we don't need people to cross some ocean just because they need money from the one who's controlling the currency. But of course, each of our countries doesn't like the idea of someone controlling the currency thus there's no need for a global currency that isn't internet based. But most country would agree with the idea of using both fiat and crypto at the same time to benefit most of us people around the world.

Yeah a Global currency isn't something I want personally, too many countries that are fucked up, who would be printing it and changing the rules? Because they would be, you aren't going to get countries to jump on something that can't be manipulated or printed in mass, they're too used to it.

Global currency won't work as many countries are experiencing different level of success and difficulties in their economies...and this is quite reflective on variations of different fiat monies we have. This is one reason why the EURO is having a difficulty right now as EU is integrating varying economies into one system. A country's weakness and problems can easily spread to its border neighbors if we have one currency...it is even spreading right now all because we have globalization. Plus there is the question of which country or a group of people that will administer the whole one global economy as one currency really requires this. Truly, it can be impossible to achieve this dream.

[Broly46]

Tough question, but how you going to give it to the bank and to the government, no many people accept internet money, it is very much fake, can you called the hell note as money too? They can be traded in the hell but in real life? How about in game money, play station credit, Nintendo store credit? Apps store credit? Apple Pay credit? Consumers are getting so confused with so many type of currency all over the internet, it’s making value pricing very difficult, if you going to sell an item, are you going to list 1000 type of currency price for that item? Too much workload.

[Falgorn]

I believe that the financial system can not directly depend on high technology. The simpler such a system is, the more reliable it is. If we switch to the use of cryptocurrency and something happens to the Internet, and such a possibility is not excluded, for example, due to the emergence of a new virus, then our entire financial system will collapse immediately. Therefore, we should always have various alternative reserve forms of cash payments and paper money of the states are the simplest and most reliable of them.
However, national cash and non-cash money will continue to exist for many other reasons, and above all, because they effectively interact with the state economy, and the cryptocurrency does not have such properties.

[Irvinn]

I believe that the financial system can not directly depend on high technology. The simpler such a system is, the more reliable it is. If we switch to the use of cryptocurrency and something happens to the Internet, and such a possibility is not excluded, for example, due to the emergence of a new virus, then our entire financial system will collapse immediately. Therefore, we should always have various alternative reserve forms of cash payments and paper money of the states are the simplest and most reliable of them.
However, national cash and non-cash money will continue to exist for many other reasons, and above all, because they effectively interact with the state economy, and the cryptocurrency does not have such properties.

Yes, I totally agree with you. Humanity should not risk its civilization so much to trust one technology, no matter how reliable it is and, therefore, put eggs in one basket. The consequences can be too dire.
Already now, in the near-Earth orbit, a lot of different garbage is rotating as waste products of human space activity and therefore the threat of their collision with launched artificial satellites is increasing.

[1Referee]

Therefore, we should always have various alternative reserve forms of cash payments and paper money of the states are the simplest and most reliable of them.

That can be done through physical means, such as paper wallets, coins, cards, etc.

Physical Bitcoins have continuously been used as cash throughout the years, and while it's still a niche sort of economy that consists of collectors and whatnot, it actually shows that it can work as cash. It's super anonymous since nothing moves on-chain, and for that reason you have the fungibility that Bitcoin currently lacks.

The only thing that needs to happen is to have these physical means be secure enough to actually be used by the average person.

[Ucy]

There is no way the future of Internet I have read about  would work without a global currency.
Such global currency would require a single global leadership.
The future of humanity depends on the character of such leaders.


People who refuse to adapt or stay within the system will probably be destroyed?

[Palmaper]

One of the main problems of a single and global currency would be that we would tacitly accept centralization at its best. And par excellence, one of the main functions of any national central bank is to consolidate the autonomy of each country in matters of monetary policy, and this policy is necessary in the face of the disparity that exists in the different economies of the world, for which I doubt very much that there may be a single global currency whose usefulness and functionality is much greater than the one practically exercised by the US dollar.

[stfN2128]

I don't think that the different govs are willing to cooperate in financial things. As you can see on the tradeware USA vs China. or the different wars around israel. nobody will agree for one solution. Everyone has an other idea here and there so the only thing we can do is still supporting bitcoin. Pushing companies to accept bitcoin and show the people the benefits of bitcoin and cryptos in general. maybe there will be starting a network by itself without the need of govs. But till we are at this point, we will pass some years.

[rizkyhiw]

Of course it requires a very heavy calculation to believe in one technology that governs all global finance, a little risky when they are too innocent to believe in all the risks that exist today rather than not supporting but would be better to improve existing internet technology and security, everything will go hand in hand, I don't think it's time to adopt everything because the system isn't entirely safe.

[nur rochid]

Of course it requires a very heavy calculation to believe in one technology that governs all global finance, a little risky when they are too innocent to believe in all the risks that exist today rather than not supporting but would be better to improve existing internet technology and security, everything will go hand in hand, I don't think it's time to adopt everything because the system isn't entirely safe.

I agree, indeed requires a process of understanding to be able to use a new technology. moreover the technology is contrary to the current order. but I guess let them judge and finally be able to decide