I will try to structure my question as good as my english allows me. Two weeks ago there was International monetary fund meeting and the main idea of it was that the next Breton wood moment in a financial world might be in the near future. Meaning that there will be some kind of global financial reset. And one of new things will be global digital currency.
So my question is how all of this will impact forex market? What if there is a scenario when all current currencies disappear and we have one official global digital currency and maybe some other currencies like bitcoin? Then what is being traded on such a market? Will it still be available for retail traders?
I’m interested in your thoughts about this.
Thank you.
I don’t know about this global digital currency. However, many major countries are developing their own digital currency. In future physical currencies are going to fade.
I am very skeptical about the scenario where there is just one digital currency across golbe. I do not see in in far future even. But some countries are developing their digital currency, but I do not think that it will impact the traditional currency of that country much.
As of now, no country has completely adopted crypto, let alone the whole world. If this is going to happen, I don’t think it would happen in our lifetime.
If taxes are an issue, then forex.
Well it is not impossible, but it is far future as of now, no country is fully comfortable with the concept of Crypto currency. So, it is a long shot, but never the less, the process has started.
I don’t think that will happen anytime soon. The concept of digital currency like crypto is still new for many countries. Also, if people have tax concerns then not many people will prefer this
This is going to be a thought in the recent future as well. Currently, no country is fully equipped to handle transactions in just crypto cuurencies. Maybe, in next couple of years, a path way for it would be conducted.