Cointime

Download App
iOS & Android

The Rise of CBDCs Could Lead to the End of the Dollar-Based International Monetary System

Brazil's adoption of central bank digital currencies (CBDCs) may lead to de-dollarization and a shift away from the dollar-based international monetary system in the next decade, potentially creating a multi-currency world. Economist Zoltan Pozsar suggests that CBDCs could reduce global demand for dollars and displace correspondent banks. The US should leverage the soft power aspects of the dollar's dominance, reserve official digital dollars for cross-border settlements, and avoid following China's centralized digital currency model, instead allowing decentralized models with crypto technology for domestic use.

Comments

All Comments

Recommended for you

  • Cointime's Evening Highlights for May 19th

    1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week
  • Will this cycle skip Ethereum?

    Ryan Sean Adams is going to take the perspective of long-term Ethereum bulls, not the obviously wrong dyed in the wool Ethereum is dead haters.
  • Genesis Global secures court approval for $3B payout

    According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.
  • Crypto Industry Rallies Behind House Bill as It Heads Toward Final Vote

    The so-called FIT21 legislation to establish a U.S. regulatory regime for digital assets is set for a floor vote next week, and the sector is telling House leaders the effort is "crucial."
  • If SEC approves spot Ether ETFs, many ‘will be caught severely offside’

    Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
  • Cointime April 23th News Express

    1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
  • Cointime April 5th News Express

    1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.
  • Cointime February 3 News Express

    1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions