Could a Cryptocurrency Ever Become The “Wordwide Super Currency”?

Could someone invent a “Super Currency” 

A super currency could be defined as being a hypothetical global currency, or supranational currency, which in theory would be backed by a basket of “Other” reserve currencies at the International Monetary Fund (IMF). The idea being that this could eventually somehow form the basis for a new global monetary system. The idea has attracted limited interest following the financial crisis and has been widely promoted by China and the rest of the BRICS.

At the United Nations Conference on Trade and Development speakers called for a new global currency to replace the U.S. dollar as the world’s dominant reserve currency because of the lack of control which the IMF had Worldwide. Many committees were formed at the time to discuss such a possibility, and indeed some of these committees are sitting today

The Future of Global Money

 

Despite all the predictions of the dollar’s demise, the U.S. dollar will remain the world’s reserve currency for the foreseeable future because of the fear of one country attempting to manipulate or tamper with an unregulated cryptocurrency., 

A report by “Futurism” highlights some of the possible scenarios, should cryptocurrencies surpass fiat currencies at some point in the future. One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status.

Beyond that, cryptocurrencies could better support the concept of a universal basic income than fiat currencies would.

As a matter of fact, some programs have already experimented with the use of cryptocurrencies as a means of distributing a universal basic income.

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