A single currency policy.

[ahmedo24]

If the whole world decides to have a single currency for instance like bitcoin or a stable coin like USDT . What are the effects.you think it could have on global economy?

 

[Nurudeen]

The exchange rate will have a total effect on different economy. Like for example 1btc to a naira in nigeria is 491 which is way to high for common Nigerian to afford

 

[Lyrrex]

I think it might stabilize the cost of goods and services across the globe. But I strongly doubt if it will improve the economic situation of any country

 

[WhiteHouse]

it might stabilize some wrecking economy, and Because Bitcoin is not controlled by anybody, it will not be easily swayed by effects or happenings in the world

 

[ahmedo24]

I feel it will kill the US forex market which will affect their Economy greatly. As to price of goods and services very likely it will be cheaper

 

[MastetG]

In hindsight, it is easy to see the appeal. The illusion was that hard money and industrious economic development would go hand-in-hand right from the start. The Greek debt crisis served as a brutal warning that a currency union was no deterrent, though. It may be tempting to conclude the opposite, but then identifying the currency union as the major culprit is challenging too.

 

[Ojonuyo]

Everything that has advantages surely has a disadvantage too. Using one currency world wide might appear as a source of uniting the whole world together, but in the end, it will turn out unpleasant. To me, I would prefer the different currency which brings value to money compare to just a single currency.

 

[Niftyyem]

For me, there would be nothing to attract me to other nations because truth be told, the fact that some countries have strong currencies has been working in their favour even giving them more credibility than they deserve.

 

[tuna89]

Really do not think that such can occur, the world powers may not decide or agree to such monopoly, it's more preferable to have different Cryptos, they all have various functions as well. It's better to have a general circulation of different crypto for the benefit of the investors and others.

 

[Ltherman]

The value of a stable coin is still pegged to a fiat currency and the proliferation of dollar as the common currency for international transactions and exchange of goods and services already creates a bias and an unfair advantage for some people.
It's hard to have a common world currency, we can only try bit the feasibility is too slim.
It may have its advantages but a greater mass of the world will be at an extreme disadvantage.

 

[Josemendez]

I think such system won't exist because countries like US that have their dollar to stand out among other currencies won't want to have the same currency value with other countries.
Secondly , there won't be any effect of it on the economy if the world at large .

 

[zagzagi]

Different economies will be closely interconnected and all protectionist obstacles will be removed. Thus, global trade will spread much faster. Countries will not be able to print their own money, so they will only rely on economic growth. Money will flow freely from strong economies to weak economies. Growth would be strong, but not sustainable in the long run. An interconnected world is much more fragile. Any local crisis that arises in a country will spread almost everywhere and cause some kind of chain reaction.

 

[Ralphjoe]

The world can actually handle a single currency but it will be economically disadvantaged to developed countries as they will be shouldering the excesses of underdeveloped countries effects on the currency. This is one of the reasons that made the UK to break away from Europe. The whole world using one currency will be a very huge ambitious project that will improve international trade.

 

[Kane]

Technically speaking, it is not possible to have one currency. The value of fiat currency depends on the economy of that country, and in the world, all countries have their own economic strength.