You are viewing a single comment's thread from:
RE: BLOCKCHAIN OIL: Is this the end of the PetroDollar?
The Petrodollar will not succomb easily to the blockchain. If blockchain tech significantly improves accounting methods for the petroleum industry, they could still pay in dollars. Create a blockchain smart contract system based on the USD. The Russians or Chinese could do the same with their oil industry; create Petrorubles and Petroyuan. However, this is only for the big dogs. Remember what happened to Muammar Gaddafi and Sadam Hussein when they went against the Petrodollar.
The PetroDollar is "old hat" and was great for the 1970's before the advent of the Internet. BLOCKCHAIN will replace Global Trade Agreements in the future and eventually there will be a Derivatives Digital Currency that will replace the USD as the Global Reserve Currency. It's already starting to happen. Thank you for your support. Stephen