How do cryptocurrencies affect Global Economy?

[Wimex]

Although cryptocurrencies have gained popularity and have influenced financial technological innovation, so far they have not managed to significantly weaken the global financial system. It is true that some nations have adopted cryptocurrencies for specific purposes such as you mention “the Petro in Venezuela”, but its adoption and effect on the world economy remain limited... Why? Because cryptocurrencies are often considered high-risk and volatile assets by many people. So the widespread adoption of government-issued cryptocurrencies could bring changes to the financial system, but these changes would not necessarily weaken mainstream economies. Instead if weakened, the implementation of digital currencies could improve the efficiency of transactions and regulatory oversight.

I have a thought that we are likely to see a co-existence between government-issued digital currencies, decentralized cryptocurrencies and the traditional financial system in the future. I have been seeing that governments and financial institutions are working to find a balance between technological innovation and the regulation necessary to ensure financial stability...  I hope that happens.

[harapan]

CBCD is been created by government of a country to minimize fiat currency which is depreciating gradually. It does not have any effect on the global economy and it is not also a decentralized currency. No matter the way it is presented to the citizens it still remains centralized. So if a country creates its own digital currency and link it to gold or oil barrel price it still will not change anything.

Cryptocurrencies are much helpful for developing countries since they can increase their economic and social status.It all started with  bitcoin,and now so many other cryptocurrencies has been added or existing.This new innovation of cryptocurrencies has renewed the economic standard of countries that uses bitcoin.Just like El Salvador,that country doesn't seem to have a problem adopting or making bitcoin a legal tender.

The Cryptocurrency network is backed by distributed ledger technology,called the blockchain network.It eliminates the risk of fraud and corruption,because of the decentralized financial system as no individual can manipulate it.The crypto-based network is moving towards Progress despite the predictions and critics.

Cryptocurrency is a new and speculative technology so embrace it,upgrade yourself,buy cryptocurrencies, study them, invest in them, trade them.This is 21st century,and technologies like bitcoin has done more good than harm to us.

[MissNonFall9]

Cryptocurrencies are playing a huge role in solving the problems of using and exchanging physical money in today's world. As the currency of each country is different and currency management and use are different so if cryptocurrency gets global acceptance then the people of the world will be freed from all these problems of currency exchange. Which will save you from spending any extra money. Although not all countries of the world have accepted the use of cryptocurrency its use is increasing rapidly and shortly cryptocurrency will be the only currency. Because cryptocurrency is very powerful in terms of technology and is very easy to use. So it will play a very important role in the global economy.