What if USD shifted to Blockchain technology.

[Oxygen 1004]

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

[Migo 7946]

This will effect a lot, anyway I don't think that will happen, because every coin has its own place in the market, and no one can replace the other, if the usd shifted to blockchain technology then the whole crypto world will be legal and accepted worldwide 

[BTC Future 3946]

If the US government decides to create a Central Bank Digital Coin (CBDC) I am certain that it will be just a digital version of the paper fiat dollar. It would be even worse as their institutions will be able to track the movement of money, create databases with every consuming habbit of their citizens and use it appropriately when they need. They will invade the privacy and the individuality even more than now and will be able to totally control the wealth of their population as they do with the bank accounts. It will be centralized with the same problematic banking system we have since the 70's and you will still have to call your bank to find out why your transaction wasn't authorized.

[Syedbesharat 5423]

13 hours ago, Oxygen said:

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

USD is basically strong hold in forex for U.S.They have trillion market .They make not drastic move.They will may be start familiar project in Block chain .Does not bring USD to block chain.Because it will effect greatly to market.

[gigabyteRTX 1583]

Well you are saying that all USD or USD itself will be converted into crypto? Then i think it will not happen or maybe it will take too long for them to adapt it but not totally replace USD to bitcoin or any cryto currency.

[alexisfuentes 2130]

The dollar is a tangible and electronic Fiat currency. In order for economic change to arise ,it is not necessary for technology to cross, only "official" recognition of governments is required. 

 

Oil,Gol, diamonds are accepted international payment systems, Bitcoin must be recognized as an official payment method.

 

But governments and the establishment are afraid of losing control of the economy.

[Honny143 13612]

USD is strong currency in the world and operate all world USD involved in crypto currency but with out USD their is no crypto currency because you buy equipment and electricity and all buy only USD not in crypto currency because crypyo currency not works their use only USD so I think USD never shift to bitcoin 

[Roomi 1119]

19 hours ago, Oxygen said:

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

I think this will be another revolution in the world after bitcoin. As usd is mainstream in the world as it used for all cross border trades. So there could be faster and secure transactions. 

[Grease Lightning 169]

On 1/19/2020 at 3:19 AM, Oxygen said:

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

I think that's impossible shortly because the crypto ban exists in the US. But if that happens, do you think the supply will be limited or not?

[Jokeer 648]

As my opinion I don't think so it will happen due to every coin has it's own place in the market so they don't want to replace other coins but if it happens then there will be revolution on crypto market where every country will accept BTC.

[Great Commander 659]

Anywhere in the world could now use usd as a digital currency and paperless money will be obsolete but it can also affects countries that usually transact usd to their own currency. 

[Afrizal rahman 2636]

On 1/19/2020 at 7:11 AM, Migo said:

This will effect a lot, anyway I don't think that will happen, because every coin has its own place in the market, and no one can replace the other, if the usd shifted to blockchain technology then the whole crypto world will be legal and accepted worldwide 

That's right it will have a huge effect on the world of Crypto. What you say is true, that every coin born has its own place and if indeed the USD shifts to Blokchain technology, then Crypto will be legally stamped.

[AmjadBydn 0]

What do you mean bro ? I you mean USDT ... I think that there a lot of difference between usd and digital currencies and I think it wouldnt be happen !

[Beeba 240]

This is better for USD if it fully converted in Blockchain technologies and this is best time for USD that it convert in Blockchain technologies. Blockchain technologies is the need of the future.

[suzuya 945]

It's a good move if united states made this kind of choice or decision because this will make their money way more secured and this might make trading with the use of USD is easier and safer. Also, this can assure people that their money is safer.

[Soaib khan 1035]

if usd shifted to blockchain technology is effects to crypto world.and maybe crypto currencies legalize worldwide if usd shifted to blockchain technology.

Edited January 20, 2020 by Soaib khan

[Rudro88 371]

USD is a certain medium of crypto currency we get this USD through crypto currency transactions and I do not think it will be transferred through blockchain.  Because USD is a currency specific to different countries, it does not need to be transferred to the blockchain.

[Amirul Islam 382]

On 1/19/2020 at 2:19 AM, Oxygen said:

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

It can happen if they want. And if they turn usd into blockchain then we can see a massive growth on crypto market. 

[Mahadi hassen 50]

I have a new blockchain on this topic cryptocurrency. There is no such thing in this blockchain. If you could help me, I would find out about it. Web 3.0, which I call the new Internet, will be powered by blockchain technology.

General Chat Chat Loung

[Sapdrx 469]

On 1/19/2020 at 7:43 PM, Casinoval said:

Usd shifting to block chain is a good, it will make the currency more accessible to many people are the world and make trading with the United States easier.

Yes I agree. And hopefully they will get rid of the unlimited creation of new USD as well. The current financial markets are bankrupt. They just create money to keep the system running...

[guatazoo 7150]

I think USD is already been expended to blockchain technology, there are coins which have value of usd like tether. 

[Brushless4500KV 4214]

On 1/18/2020 at 11:49 PM, Oxygen said:

Have you ever thought that if US$ shifted to blockchain technology than what would it have effect on crypto market as well as in world's economy. 

If USD or Euro or any other national currency is shifted to blockchain technology, it will not be the same as bitcoin blockchain because all bitcoins are recorded on the same public blockchain but fiat currencies can't use only one blockchain for all transactions. In this case, every country needs to create its own blockchain and at the end we will have many different private blockchains. If this happens, we can't trace all transactions worldwide.

[guatazoo 7150]

2 hours ago, emonkhan3 said:

The US Dollar Shift Blockchain, which will affect cryptocurrency, will increase the value of the alt-currency, but all the altokins have their own market so that it will allow it to compete in crypto.  

i think we can all agree that this is a fantasy, the US governments have way to much respect for the dollar, they can in no way turn it digital.

[Fatihgani12 348]

I did not think until it was focused that if the dollar shifted to the Blockchain, what would happen would be the possibility of inflation in the world economic system.

[Oxygen 1004]

On 1/20/2020 at 8:32 PM, Yawar said:

Well there is of course a political motive on which this plan is based, however, if we put this decision inside the technological spectrum, this may as well prove to be quite beneficial for Russia. Cryptocurrency is the future and since advent of regulations on it in recent times, trust has been gained back. I would call it a smart move.

Yeah I am agreed with you. Politics have much more importance in implementing blockchain technology. Politicians can speak about blockchain technology importance in a parliment or assembly. That can educate ministers of finance as well as governments.

16 hours ago, guatazoo said:

i think we can all agree that this is a fantasy, the US governments have way to much respect for the dollar, they can in no way turn it digital.

That is also a truth that USD have a great value in all the world. Every country almost trading cross border with the help of USD, imports and exports are being done in US dollars and most probably importance of a country's own currency based on USD.