Algorithm of Money

Is It Possible for Crypto To Replace the U.S. Dollar?

The U.S. is still powerful enough to control the global economy, do you really want to mess up with the U.S. dollar?

The U.S. dollar is an international currency after World War II. At that time, the U.S. is the most powerful country globally.

Since bank reserves didn’t have enough gold to sustain the growth of the currencies, the U.S. started to abandon the gold standard and resorted to printed banknotes.

Although it doesn’t hold an official status of global currency, the U.S. dollar holds 64 percent of the known foreign exchange reserves of central banks, which makes it the world currency.

Even right now, in 2022, the U.S. is still powerful enough to control the global economy.

When some middle eastern countries don’t want to accept transactions using the U.S. dollar anymore, and back to the traditional gold standard, there is propaganda to prevent their idea.

Since the war with Ukraine, Russia only accepts transactions using rubel and gold, because Russia knows how to make the U.S. government angry.

And now, a new technology wants to replace the U.S. dollar? I think that wouldn’t be easy.

The U.S. government keeps making more crypto regulations, maybe one day they want all cryptocurrencies backed by the U.S dollar.

Unless, if you believe in New World Order.

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Originally published at https://ainurroviq.com on May 20, 2022.