The news from Bloomberg says Russia will eliminate the dollar from its wealth fun. Kremlin seeks to reduce exposure to U.S. assets amid threats of sanctions.
As outlined in this series of articles, every country that’s not the USA or PRC will shift to national stacks & neutral protocols over the 2020s. National stacks for domestic trade & communications. Neutral protocols for international access to the same. https://balajis.com/tag/india/
BTC is akin to digital gold, and cannot be frozen or seized by any state. It is this property that makes BTC so precious for safeguarding national security. A network that cannot be shut down by any state can be relied upon in time of conflict.
We are entering an era of global monetary competition. In the 2020s, millions will own many different kinds of digital assets, including crypto, foreign currencies, & the national currency of their own state. All of these will compete against each other.
As the USA & PRC slug it out in Cold War 2, the rest of the world can take a different path. Think of this as a reinvigorated Non-Aligned Movement, except it’d be a Decentralized Movement that aligns its members behind national stacks & neutral protocols.