What if USD shifted to Blockchain technology.

[guatazoo 7150]

17 hours ago, Satushi6753 said:

What do you mean brother ? I you mean USDT ... I feel that there a great deal of contrast among usd and computerized monetary standards and I think it wouldnt be happen !

He means USD that's known as fiat currency but not USDT because USDT is different with USD, but the things that's makes them to be similar is USDT is spotting USD price. 

[Mcd0d0 5882]

Well, this will be changed a lot example of this is the effect of it for many people who are using USD as a traditional money because It's hard to adjust when you're adopt this at first but i think this will be not happen.

[Moaz 7239]

Certainly, if  if USD shifted to Blockchain technology, it will have a huge impact on the crypto world, but this is somewhat difficult, because the US dollar is a national currency supported by the American government and cannot allow unless the United States recognizes the cipher legally, and that the cryptocurrencies become centralized and under their control

[P A Ashif 2409]

Well I think if  us dollar is shifted to blockchain technology then I think the physical currency have to be destroyed. I don't think the fall and rise that we see in crypto or stock can be seen in a countries currency also us dollar. Well if USD will be shifted then some other currency have to take its place.

[bitcoin-shark 1928]

I believe that this will happen soon as China is about to release the virtual yuan, America will certainly not want to fall behind and will release the virtual dollar which will certainly become the reference point among stable coins

[hasan007 206]

Its might be effect, if i truly said will effect a lot. If the usd are started to being use the blockchain technology before that the authority would have to legalize the crypto. It might be  a great thing if they legalize the crypto. But is sounds like impossible to use the blockchain technology. 

[yato987 2811]

 i think this is not going to happen because USD  is an international currency and supported by USA so it will be impossible to replace all the USD with cryptocurrencies

[iloveyobit 6599]

Simply, this cannot happen because the dollar is a tangible currency and not a virtual one. In order for the dollar to be added to the blockchain, a completely new virtual currency must be created.

[BTC Future 3946]

There are blockchain systems as IBM's that are centralized and perhaps not imutable. Since they are centralized I doubt they can even be called blockchains. Still they got that name and noone cared to refute them. So these "blockchains" may be able to host a centralized CBDC run by a government.

Still they will be totally different from cryptocurrencies as Bitcoin.

[Ndayebo8 0]

is impossible to happen but if that scenario happens, I think this will have a big impact to the market because usd is a big currency and it is the most used currency. if the usd shifts to the blockchain it will definately affect cryptocurrency which might increase the value of altcoin

[Guru2050 8284]

If USD is transferred in to block chain technology this will be an added advantage for so many countries to willingly accept Crypto currency system because many countries has to exchange do currency to USD to pay international purchases 

[Izeal 4404]

I think there is already a coin based on real USD known as USDC in coinbase. I have used a lot to store my currency in this USDC as other coins are more volatile. Even their is USDT coin whose price is more or less similar to the USD.

[Gherkj34k 55]

On 1/19/2020 at 12:19 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. 

Interesting reasoning, then this will not happen in the foreseeable future. Blockchains have a huge disadvantage - transactions are processed very slowly. And there are thousands or even millions of settlements in dollars every second.

[playman64 11]

Maybe the world cannot improve in that way. The flat currencies would have disappeared that way. 

[Hunterdakka 25]

Dollar can be digital in the following years as I think 

[DollarDuck 106]

It will not happen now 'cause if it will USA need to return their state debt and that will lead to default at once. Also no government will risk to move all national currence to blockchain ever - that will be made only for the slave  citizen sector.

[Alex9876r 1408]

Actually there is the Tether currency, which is the equivalent of the US dollar and its value is equal to its value. It is available on the blockchain and is frequently used in financial payments as it is a bargaining chip and is supported by the dollar.

[estmerbol 257]

Each absolutely depends on the other because the measure of btc is with American Usd. That is why you cannot contemplate a market without Fiat money. Because the amount of services that are acquired through fiat money is immense. That is why in the short term this possibility is unfeasible. As long as the use of coins increases, they will take their rightful place.

[cryptovlek 2597]

Blockchain technology is the future. It will be part of it with many new technology. With blockchain it can work better for everything that has grown big enough to be slow and not stable. Blockchain can help with security and stabilize currencies so it is considered for digital currencies from central banks.

[rahmi777 320]

I do not think it will happen because the dollar is a local currency and it cannot be among the cryptocurrencies. I do not think this will happen 

[bogdanoff 3173]

There are many thoughts in the america to change the dollar to digital and perhaps they will use blockchain system to run on it. But this makes nothing different beacuse a blockchain can be centralized and under the control of the government. It will be the same as the system of digital banking only with a difference of having all fiat in digital form.

[yonkii 3205]

Blockchain technology means they will have to create a cryptocurrency. The question will be if they want to create a Bitcoin version of fiat with decentralization and stability under some algorithms to make it not volatile and what kind of inflation they would want to create. The debt is also a problem and any attempt will have difficult to forsee results.

[Sykkuno 2887]

Maybe the only way to save the dollar from being destroyed further will be to adopt blockchain digital dollar that will require the consensus of all political parties and economists too before creating massive debt and inflation to their country. It can be something that can create terms for better planning and strategy over the whole economy.

[Brushless4500KV 4214]

19 minutes ago, Raeess Sheharyar said:

In my point of view, 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 be careful my friend and take care...

Although there is no direct connection between USD and blockchain but they have a close relationship in some aspects. Look at it from a new angle. People are get employed. They work for their employers and earn USD income. After that they will enter blockchain network by converting their USD to crypto. Based on this description, it is safe to say that a large amount of USD is already on blockchain network. It is just the form of currency that has changed into digital. The value is almost the same.

[BrolySSJ 7899]

If the us dollar had to switch over to the blockchain technology it would have a major impact on the crypto market for two reasons. First the value of the US dollar would then be dependent on the supply and demand of the dollar and will fluctuate a lot more than the fiat currencies do now. Secondly all of het prices of crypto are often valued against the us dollar, so having us dollar on the blockchain will affect all the prices, making them much more volatile than we are seeing now in my opinion.