Day: October 21, 2019

Transcending Borders: Global Currencies of the Future

Transcending borders: Global currencies of the future

Bitcoin and other cryptocurrencies are considered global currencies as they transcend borders. Many cryptocurrency exchanges today facilitate the investment and trade of these global currencies. But even before Bitcoin was conceived in 2008 and launched in 2009, various leaders, economists, and educationalists have proposed ideas for the establishment of a single currency without borders. The SDR or the Special Drawing Right, though not a currency but a unit-of-account, is the very first attempt at establishing a world currency. The SDR is relevant today only for Governments and not for the general public as their sole purpose is to act as