What Would Happen if the Whole World Uses Same Currency? Is It Good Or Bad?

We've all imagined what would happen if the entire globe adopted a single currency for all financial transactions. These feelings are amplified when we consider the exorbitant currency rates we face while traveling or transferring money overseas.

The rates are astronomically expensive, and eliminating the many currencies might simplify the procedure for both us and the banking institutions. However, this reasoning is not unique, and we cannot conclude if adopting a single currency is simply beneficial or harmful.

You could believe that life would be simpler if we didn't have to waste time when traveling, exchanging cash, or calculating conversions in our thoughts. The majority of countries have their own currency for a simple reason: most countries have distinct economic conditions and seek to make monetary decisions that are tailored to their own interests and demands.

To comprehend these considerations, it's necessary to comprehend why currencies have different values and how those values change over time.

Watch the full video till the end.
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[LogicAndReason]

We just need a currency that every country will accept everywhere. Each country can still have it's own currency also.

[HyundaiAccent-nt]

Better for single currency. For a good reason, we can trace where actually money go.

[chadsimmons]

Agree with others. Definitely an underrated video and should have way more views. Proves my theory people are caring less

[domomitsune]

I think the pros outweigh any of the cons. If we all used one universal currency, there's no exchange rates, and there's no transfer fees from one currency to another. Would also mean there would be no reason to exchange one currency for another, resulting in a gain or loss of what you're exchanging to. And imagine how easy would be if you go on a trip, and there's no math conversion in your head to determine what something is is worth in another country. It would simplify and streamline the whole entire process.

[rogerwilkie]

Centralization of power follows and that will cause a natural resistance.

[justritesh]

What's wrong with views of this channel

[dreadfuldonkey]

Isn’t the reason for currency rates is so you don’t get more than what your money is worth

[mansidasgupta]

Oh. Sure. Good. .because. Of. .balanced. .economy. In. One. International. Market. And. One. International. Group. Is. Also. Good. For. Every. Department. In. World. For. .devlopment. Like. Food. Department. .education. Industrial. House. Problem. And. Everything.