Cointime

Download App
iOS & Android

The Rise of CBDCs Could Lead to the End of the Dollar-Based International Monetary System

Brazil's adoption of central bank digital currencies (CBDCs) may lead to de-dollarization and a shift away from the dollar-based international monetary system in the next decade, potentially creating a multi-currency world. Economist Zoltan Pozsar suggests that CBDCs could reduce global demand for dollars and displace correspondent banks. The US should leverage the soft power aspects of the dollar's dominance, reserve official digital dollars for cross-border settlements, and avoid following China's centralized digital currency model, instead allowing decentralized models with crypto technology for domestic use.

Comments

All Comments

Recommended for you

  • 7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more

    Innovative blockhain fundraising methods according Flare Network, FUNToken, MixMob, Aethir, Upland, Undrgrnd and Sensay.
  • DeFi DAO introduces permissionless listings with AI enhancement

    This decentralized finance platform seeks to help users navigate the DeFi landscape with AI and permissionless listings.
  • Q-Day approaching: Can Ethereum survive a quantum emergency?

    Quantum computing is the next most significant disruptive technological leap and its rapid evolution and funding will soon make it a reality.
  • Crypto-to-crypto swaps, explained

    Crypto-to-crypto swaps are the direct exchange of one cryptocurrency for another at the prevailing market rate. Unlike traditional exchanges, which would require fiat currency deposits and a longer process, crypto-to-crypto swaps facilitate the exchange seamlessly.
  • Cointime April 23th News Express

    1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
  • Cointime April 5th News Express

    1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.
  • Cointime February 3 News Express

    1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions
  • Cointime January 14 News Express

    1.Digital asset protocol Metaplex will list its Solana inscription on January 162.Investment bank TD Cowen: The U.S. SEC will not approve an Ethereum spot ETF in the short term3.Binance, Kraken and other nine trading platforms have been removed from Google App Store in India4.Barclays economists advance forecast for Fed rate cut to start from June to March5.The Chairman of the U.S. SEC issued a statement on the theft of the SEC's official Twitter account: The impact is still being evaluated and the company is cooperating with law enforcement agencies for
  • Cointime January 7th News Express

    1.Ordinals’ cumulative fee income exceeds 5,400 BTC