So everyone talks a lot about Crypto and the blockchain as the FUTURE?
Well its a great experiment in decentralised money exchanges in a non physical currency asset. Now this is speculation with a tinge of reality check.
SDR's are the Special Drawing Reserve of the world bank that can stabilise other currencies by using it like a promissory note in global exchange. That is a basic interpretation of something that could also used in emergency such as a pandemic. The global status of economies in the next two years will be losing either their peg to the US dollar and or gold rising in popularity to stave off inflation on currencies.
There are good points to realise in this speculative economic musing.
There is a need for a currency that can keep countries operating in exchange to food in distressed nations that are technologically advanced economies.
Crypto and blockchain is essentially a mixed basket of exchange coins, stable coins and many variations of the marketing and methods.
What can become a reality with crypto marrying into a basket SDR model?
Think about it homogeneity happens to all new inventions once the bell curve and novelty gives way to serious acceptance, or production of structures and laws to manage it.
Two problems i have mentioned in previous blogs. Crypto can be nationalised by the fact it is reliant on power companies. Nations can tax power to revalue crypto so it is not decentralised until a free power generation source is available in mass availability for the population.
Maybe Solar Hats, printable solar clothes will be invented so you can mine your coin as you walk outdoors?
So to speculate further as banks will need to recapitalise will this effect the general populace that expect to have what sci-fi movies have canonised the trope of 'CREDITS.' A variation of currency that exists on a biometric marker or card associated to your biology. Its plausible with pay and wave technology on chipped bank cards and mobile phones with applications that can pay for goods and services with a contactless movement of the phone near the appropriate receiver. Yet we are not scientifically able to integrate tech that precisely into the human system just yet.
Biometrics are currently being harvested and soon DNA due to COVID-19 will be documented and categorised. Pandemic fear has a double effect that they can digitise everyones details. 5g technology already has backscatter effect that can measure biometrics and can almost work as a tracking device similar to a 3d scanner. So possibly it will be integrated by fear or by force. The two applicable conformist instigators are disease or weaponry.
In closing this wild speculation, the World Bank, United Nation, or whatever will attempt to unify everything under a power based economy that mines a coin based on biometrics and various inputs into the system. We still have a way to go through various mutations of diseases, the destruction of traditional modes of work and perception. New methodologies and implementation of war structures and theatres. Of course Science will be at the forefront of this change in the human social structure and it will not be pretty with many mistakes expected along the way.
Stay safe take my words with a pinch of salt and a bit of speculative science fiction hilariousness for flavour.
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