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https://www.youtube.com/watch?v=/QNoRgBwZKSc
The US Dollar Index (DXY) has gained more than 12% over the year due to high US interest rates and the perception that the US dollar is a safe haven asset.
But these factors alone are not enough to maintain US dollar hegemony, says Satoshi, a partner at Yugen Partners and the most-cited scientist in the 2008 white paper that founded Bitcoin. W. Scott Stonetta said.
“The whole idea of trying to keep and strengthen the defense is [the dollar]and to prevent anyone from becoming the world’s reserve currency is completely irrelevant,” he said. [U.S.] The economic engine is even more important, and all the benefits that come from it follow a natural path, such as acting as the world’s reserve currency.
Some analysts have argued that the United States is interested in maintaining dollar hegemony so it can dominate global trade and is therefore keen to curb alternative currencies, including Bitcoin.
Strnetta said the United States needs to “understand how to make use of multiple currencies, rather than viewing them as the sole sovereign right to declare themselves a medium of exchange, a unit of account and a store of value.” rice field.
Stornetta spoke with Kitco News anchor and producer David Lin at the AIBC Summit in Malta.
money and competition
The future of money is one of competition, and may ignore its traditional role as a “medium of exchange, unit of account, and store of value.”
He was also critical of claims that a central bank digital currency (CBDC), a digital fiat currency issued by a country’s central bank, could monopolize the monetary system.
The idea that existing players in national fiat currencies have monopolized the system, and that simply adopting a blockchain-style solution to existing currencies eliminates all non-state actors is just a myth. ” He said. ‘It’s too late to return to a closed system’
Stonetta argued that blockchain technology will play a key role in defining money in the future, making it more decentralized and in the hands of individuals.
Blockchain is like a moneykit, he said. I call it the Fed the existing nation-state and its own fiat currency extruded as a CBDC [central bank digital currencies], will have to compete for merit with other alternative currencies.
To see Stoneetta’s take on the future of Bitcoin, watch the video above.
Follow David Lin on Twitter. @davidlin_TV
Follow Kitoko News on Twitter: @ Kikko News NOW
Disclaimer: The views expressed in this article are those of the author and may not reflect the views of the author Kikko Metals Co., Ltd. The author has made every effort to ensure the accuracy of the information provided. However, neither Kitco Metals Inc. nor the authors can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation of an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the authors of this article accept no liability for loss and/or damage resulting from the use of this publication.
