Bitcoin Could Ruin U.S. Control Of Global Currency Reserves
Post
WWII world wide acceptance of USD led to the exponential rise of the
United States, which has carried over to date.. However, after 75
years of its dominance, the USD has met its fiercest rival in
Bitcoin. Bitcoin is based on revolutionary blockchain technology. In
simple terms, the technology takes off the control of authorities
over the monetary system, and pass it to the users themselves. The
popularity it has managed to garner over a period of time has forced
government regulators like central banks, finance ministries, etc. to
take them seriously and find ways to regulate them.
Nonetheless,
all efforts to control, regulate, or even ban cryptocurrencies
haven’t worked out. So what’s next? Adopt them! And a few
countries like Russia or Venezuela, who are doing so, have found it
to be a mode of liberation from the American dominance. How? Quite
simple. They have found a new currency to trade with other countries
and hence will no longer need the US dollar. This is what eats at
DC….
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