If my interpretation is accurate that cryptocurrency is now a "threat" to the Eurodollar system, will the former also be in the process of replacing the latter in its position as a reserve currency?
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Blockchain is actually the innovation. It is the Eurodollar system's foundation.
It all comes down to the ledger. Right now, the bankers control that. If we understand that the monetary system is a combination of accounting with communications, then we see how blockchain serves that role.
Then it is up to us, instead of the bankers, to create whatever forms of money we decide to.
We are taking over their role.
With that, it makes sense to keep the USD as the unit of account since that is what 4 generations of people understand. But as with the Eurodollar system, there is no USD currency involved.
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I really like that part where we are taking the bankers' role. 😄
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When you truly understand the banking system and how it really operates, it is easy to see where this is all going.
Distributed ledger technology (DLT) is very powerful. We can really alter the control of the financial ledger that is operating globally and keeping track of all our money.
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Yeah, this is good news, but most people either refuse to see it or they think it's too good to be true. 😆
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