BitCoins for those of you who don’t know is a decentralized digital currency that was invented in 2009. The BitCoins are becoming more widely accepted around the world on gambling sites, marketplaces, and can even be exchanged at some currency exchange booths.
The basic premise behind the BitCoin is that a computer creates BitCoins in a process known as BitCoin mining and is limited to a max creation of about 21 million BitCoins. Each person that decides to start using BitCoins must install a BitCoin wallet onto their computer or phone and then can begin making transactions.
The main difference of BitCoin to normal currency are:
- No central ownership of the currency
- BitCoins do not have an exchange rate they are worth the same all over the world.
- Economic ups and downs do not affect this currency on the same scale as national currencies.
- Completely digital
While I don’t believe BitCoins will necessarily become the one world currency, I believe that the platform on which it is based, is what the one world currency will be based on. This is really only a thought on the subject and I in no way have concrete evidence or am proclaiming that BitCoins are the real deal.
In my opinion however, in order to have a one world currency work properly, you would have to have a currency that is not controlled by a certain person, place or organization(decentralized).
You would have to be able to use this currency quickly and easily all over the world, and it would have to be adaptable to all new technology that the future holds.
The one world currency, as a digital based currency would allow the possibility of wifi enabled chips or wifi enabled tattoos in order to make transactions, and hold the information necessary for your banking.
All in all a digital based currency I believe makes the most sense for a one world currency platform. There is no waste of expensive resources, or printing machines. The currency value wouldn’t be based on economy or political corruption. With the available total currency having a cap, it would allow for the value of the currency to be more reliable and even, instead of being washed out by printing excess money.
Anyways just a thought on the matter, I could be entirely wrong, but I thought I would just throw the idea out there.