De-Dollarization - An opportunity to crypto.

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Avatar for Amjad_Ali_Waince
1 year ago

Each sovereign country looks into its matters in its own interest without possible less interference by any other country. Same thing happened for regional blocks , international organisations and power politics where countries set the policies in the favour of Thier own nation.

US Dollar has international adoption especially in international trade agreements linked to USD. It gets more wings in 1974 when his diplomacy succeeded to convert OPEC trade into petrodollars.

Time passing and new industrial, financial blocks emerging in the world because USD not give them those benefits which they were looking. So new strategy coming up which is called De-Dollarization. It means go away from the bindings of USD anymore and boost domestic, native, digital currency.

In recent couple of years especially after Ukraine Russia war internationally lot of developments happening which causing ditching of USD globally. US Dollar rapidly loosing its pitching power and this fall of value can open new doors to crypto as overall. Recent developments like ,

  • OPEC member KSA announced to stop petrodollar trade and started accepting yuan against petrol trade with china, Russia and some other countries.

  • Brazil latest deal with china of LNG sealed under yuan payment which ditching further USD.

  • India, second largest population in world, started pitching its own currency Indian Rupees. India finalize his agreement with more then 19 countries where payments will be made with IR. It's biggest deal of palm oil from Malaysia bonded with IR payment.

  • Iran is suffering with US sanctions due to its nuclear capability. Iran supplying oil to China and Russia with yuan payment method.

  • China itself working deeply to bring yuan on launching pad of payments. China convinced countries of BRICS , OPEC and SCO to trade in yuan.

  • Due to US policy over Ukraine, Russia making full effort to ditch USD further so it pitching yuan as well. Putin using his influence over Ex- Soviet states to made trading deals in yuan.

So these examples showing that lot of efforts on international level trigger the mode into Anti- USD.

Impact on Crypto.

Most of countries doing planning, homework and financial amendments in laws rapidly and searching better alternative payment method of USD. Cashless trade concept also rooting up where crypto as first priority to alternative payment method emerged.

African nations already going far from US Dollar. The massage of Kenyan primer is loud voice that get rid of Dollar and accept Bitcoin, bitcoin cash and other reliable crypto currency. South Africa , Nigeria, Eritrea and sanigal are in leading nations where crypto got deep roots already.

Any further ditching of USD will generate opportunities for crypto to be use as payment in international trade agreements. The demand of crypto will increase and definitely prices of good , reliable and trustworthy coins will go higher more then anyone's expectations. All the crypto currencies which has lower transaction fee , time and capability of quick transactions like BCH and XRGE will get early place of crypto payment method in international trade agreements.

Cheers,

Amjad

That's all for today. Hope you like it . Upvote the article and leave comment for feedback.

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Comments

Im glad they found a solution to ther wants. Using USD may give huge change for some countries to monopolize. I'm just glad people nowadays had lots of options to use in trading, they even became flexible.

and by the way, I was invited to be a moderator in this community, I have no experience in such but I'm interested to do so; this would make me explore out of my comfort zone.

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1 year ago

Crypto has a bright future also and I hope that in every country it will be recognize also.

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1 year ago

In our country crypto was open in tge market to use. A matter of fact they use it in mode of payment in some other merchants

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1 year ago