LaughingBubba
1 min readDec 22, 2022

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Thank you Isaiah. Your shift in language and demeanor is noticeable. Currencies don't globalise commerce. Their rates of exchange are simply indicative of the trade flows between countries. Thus USD is the default ATM because of the sheer volume of the country's trade flows. When China's economy surpasses the US, I expect the RMB will become more ascendant.

"Deglobalisation" began with the disruptions to the global supply chain, caused by absenteeism resulting from COVID and the lockdowns imposed by China to contain COVID. Not to mention giant container ships paralysing the Suez (ie the Evergreen). At a time when the West was desperate to get vaccines, medicines and masks to other countries, the fragility of the global supply chain was laid bare. Is it any wonder than that there's a rethink of putting all your eggs in the one Chinese basket?

So, unless a digital currency can cure COVID and prevent protectionist policies, I'm not seeing a DC being of any use. Unless the EU or China+US agree to to a standard DC for exchange. (unlikely to happen in the current geopolitical climate)

China and subsequently other countries are exploring Central Bank Digital Currencies (CBDC) but I dont see that as solving any global commerce problems, just digitising the supply of Fiat.

In short, DCs are a solution looking for a problem. (remember FB's Libra?) Block Chain in general has a place in global commerce but is yet to be worked out. The sooner the cryptoshere stops trying to bootstrap currencies from nothing the sooner that energy can go towards something constructive.

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