The US dollars has been exploited as an economic weapon agains countries that are considered ‘not playing by the rules’ such as Venezuela and Russia. However, the hegemony of the US dollars has been challenged. A Russian-operated international payment system is under development. Venezuela launched the Petro as its experiment of cryptocurrency, though it has been considered a failure.
Is there a possibility that countries settle international trades, like oil, in Bitcoin? Is it one solution to sanctions? Is the US dollars going to lose its status as the pivot of international trades? What makes Bitcoin the next global reserve currency? Let’s meet and discuss!
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