Transitioning to a Unified Global Currency
Date
2020-10-01
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Publisher
Association for Computing Machinery
Abstract
This paper discusses the advent of a new currency platform HBAR based on Hedera network. The superiority of this new platform is compared with the existing Bitcoin and Ethereum platforms. Significant differences in terms of security, cost and operational efficiencies are highlighted. Currency valuations based on the prevailing US Dollar is discussed which benefits from the current regimes of multiple monetary systems and practices. The transition to a unified global currency is expounded with the transition to a digital currency which will eliminate the consideration for currency devaluations and accompanying variations in foreign exchange rates given that the digital currency will be based on a steady state thus eliminating the need for future value considerations. © 2020 ACM.
Description
This article is not available at CUD collection. The version of scholarly record of this article is published in ACM International Conference Proceeding Series (2020), available online at: https://doi-org.ezp.cud.ac.ae/10.1145/3377571.3377633
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Conference Paper
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Keywords
Bitcoin, Digital currency, Ethereum, Future value, Hedera, Electronic money, Currency devaluation, Current regimes, Foreign exchange rates, Global currencies, Monetary system, Operational efficiencies, Steady state, US dollar, US dollar
Citation
Sheijani, B. M., Elshareif, E., & Lewis, A. (2020, January). Transitioning to a Unified Global Currency. In Proceedings of the 2020 11th International Conference on E-Education, E-Business, E-Management, and E-Learning (pp. 314-316). https://doi-org.ezp.cud.ac.ae/10.1145/3377571.3377633