Could There Be One World Digital Currency?

[ethereumhunter]

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

Bitcoin can be one world currency in the future, but all governments must agree to use bitcoin as their money, which I don't think will be easy for them to accept bitcoin. Every country wants to have its own digital money, so there will be a competition between each country to be the number one currency used for another country.

[awakpane]

In my opinion, making cryptocurrency the only currency in the world in the near future is almost impossible. In fact, a pandemic has the potential to cause decoupling, which means that there is deglobalization. All focus on the recovery of their respective countries.

[plr]

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

One world currency sounds to good to be true, almost impossible because each country has their own financial structure and political philosophy, the Euro currency is very much different, I doubt if that possible for one world to have one currency, much more using Bitcoin as the one currency.

[bosede1]

I don't think bitcoin can be a substitute for money in the future all over the world some countries can adopt this but it cannot be a world thing. But the fact still remains it is another means of exchange possessing the feature of money entails.

[CuriousGeorge]

I don't think bitcoin can be a substitute for money in the future all over the world some countries can adopt this but it cannot be a world thing. But the fact still remains it is another means of exchange possessing the feature of money entails.

So many times people said about the possibility for bitcoin to be the only one digital currency but it will not happen. The fiat and digital money will always there. Bitcoin itself can be considered as a store of value rather than a payment system consider the majority of people have bought bitcoin to be used as their investment and that's their main intention owned some btc.

[iTradeChips]

This was just discussed last month on another thread? As it was believed by many and as the economy demands it, there will not be a one world digital currency. This is just simply stuff of conspiracies and world control. It defeats the very purpose of why cryptocurrency was created, so that it will be decentralized and deregulated. No one powerful entity will be able nor capable of controlling cryptocurrencies and become a dominant force in cryptocurrency.

[Lantind]

I don't think bitcoin can be a substitute for money in the future all over the world some countries can adopt this but it cannot be a world thing. But the fact still remains it is another means of exchange possessing the feature of money entails.

Logically speaking, Bitcoin cannot replace the role of money in the world in the main, but if we look at the features available in Bitcoin, then it can be a good choice for payment in other options, and it can also be run simultaneously with the role of real money.

[zulfi125]

There is no doubt that after COVID-19, the demand for digital currency is increased, and most counties think of avoiding paper currency and want to launch their own digital currency. Still, you can't be a one-world digital currency that will control the world because every country will launch its own digital currency with its rules, and Bitcoin is Decentralized and can't control by any country.

[Baimovic]

although it might happen in the future but I personally am still not sure if cryptoqurrency can replace fiat currency or be like paper currency. While the crypto market is unregulated and prices are also unstable, on the other hand there are still many countries or governments that do not support crypto.

[bandungan]

to become a substitute for the main currency is still difficult because it requires approval from the regulations of many countries ... but to get profit from bitcoin will still happen and this is useful to help the economy during the Covid 19 pandemic because people have bitcoin

[kamadazje]

In the future there is a big possibility that crypto will fully replace fiat but with regards to your question, I am doubtful that there will be one world digital currency to happen because it is very difficult to unite all the governments around the world to create or accept this one currency.

I am predicting that most of the country will make their own currency that will be use by their people in their daily transactions and their value will vary the same to how the fiat value works. Bitcoin is the king of crypto currencies but still, I am not 100% confident that it can unite the whole world to accept it as world digital currency.

[huiji2011]

In my opinion，this is never gonna happen. For example，is it possible that one day every country in the world will use the dollar, or some other name of legal tender，the only possibility is the countries in the earth is united as one country.

[isaac_clarke22]

Cryptocurrency is becoming a trend despite the shock of the COVID-19 pandemic. This actually raises a conspiracy regarding the possibility of changes in the financial world to use digital currency as one of the goals of the New World Order or the global elite.

COVID-19 itself has had an impact on worsening economies in many countries. But is there an adaptation of one world currency? Can Bitcoin or other cryptocurrencies be a substitute for money in the future?

It is already a substitute for some merchants but not all. The pandemic seemingly became an opportunity for merchants to adopt it but due to how unstable the price is, they might find it hard to adopt it.
Plus asking for the number one world digital curency? I don't think we'll have one.

[Zemomtum]

As there is no one world Fiat currency, there will be none for digital currency. In case it is eventually adopted, each country will have its own as it is presently.

[Rengga Jati]

It is too early to make Bitcoin or cryptocurrency the world currency because not all countries legalize Bitcoin and crypto as a payment method. This is actually a very interesting idea, but unfortunately, it may not work well right now. Each country may be considering using their digital currency or event creating its own CBDC than using Bitcoin. We know that official currency in a country must be regulated and they cannot regulate Bitcoin. That is why it is too difficult.

[coinsolidation.org]

Hi,

I believe that the financial issue or digital currencies will continue to grow and little by little some countries will begin to obtain by not using physical money, for example Sweden is already in that line.

I think that first electronic methods such as credit cards will continue to be used and later cryptocurrencies could enter fully legally in the most developed countries since this implies very clear rules to avoid illegal implications in the use of cryptocurrencies.

I leave you a post on how Sweden is doing with this.

https://interestingengineering.com/sweden-how-to-live-in-the-worlds-first-cashless-society

Regards,

[Renampun]

It is too early to make Bitcoin or cryptocurrency the world currency because not all countries legalize Bitcoin and crypto as a payment method. This is actually a very interesting idea, but unfortunately, it may not work well right now. Each country may be considering using their digital currency or event creating its own CBDC than using Bitcoin. We know that official currency in a country must be regulated and they cannot regulate Bitcoin. That is why it is too difficult.

controlling Bitcoin is an impossible job, it will never be possible...
every country making its own cryptocurrency is a very big possibility in the future. many countries will definitely make strict rules against other cryptocurrencies so that they can spread their own cryptocurrency in their respective countries.

[tvplus006]

The USA will release a digital currency of its own soon enough, so will Europe and Russia. It's a dream come true for a totalitarian lover, and what makes it worse is that people will love the new, way more convenient currency they're coming up with. A digital currency has been worked on for many years in different parts of the world, and all those digital fiat coins will be just as centralized as China's.

I do not think that payments in the national digital currency will be any different from payments by credit card, so they will not become something noticeable for people. The main advantages will be given to the government, in connection with full control over its citizens. So it's no surprise that China is one of the first countries to test CBDC.

[Psynthax]

As far as I know blockchain system still stucks on scalability. Popular coin like BTC and ETH struggling a lot when there's overflow of transactions and that's already a proof. Can't imagine if the entire world sending transaction at the same time, the fee gonna be whooping high despite ethereum 2.0's sharding.

It's still lacking and insufficient to replace the current centralized traditional money but as the time goes it's gonna be capable. It's just matter of time really and I disagree that it gonna be One World Digital Currency or whatever it is, I can't see it happening.

[Jeger.Kiting]

This is my question, whether the Bitcoin concept that has been made so far aims to become a digital currency that will be used throughout the world, even though this is just my speculation for that I ask why Bitcoin exists today, even exceeding the price of all investment tools, especially gold, if there is no such purpose, if there is a mistake, please correct it with your speculation.