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Opinion

Understanding the Coming Currency Cold War

Will the future of currency be led by the U.S., China, Bitcoin or some combination we can barely imagine today?

By Nathaniel Whittemore
AccessTimeIconSep 27, 2020 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 10:01 a.m. UTC
AccessTimeIconSep 27, 2020 at 1:00 p.m. UTCUpdated Sep 14, 2021 at 10:01 a.m. UTC
Breakdown 9.27
AccessTimeIconSep 27, 2020 at 1:00 p.m. UTCUpdated Sep 14, 2021 at 10:01 a.m. UTC

Will the future of currency be led by the U.S., China, Bitcoin or some combination we can barely imagine today?

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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

This week’s Long Reads Sunday is a reading of “The Currency Cold War: Four Scenarios” by Jeff Wilser – part of CoinDesk’s Internet 2030 series. 

In it, Wilsner talks to experts about four scenarios:

  • A multi-currency scenario, where exchange is abstracted away via digital wallets
  • A China-led scenario
  • A U.S.-led scenario
  • A bitcoin/non-state currency-led scenario

In addition to reading, NLW gives his take on which scenario is most likely. 

See also: Sven Henrich on the Ever-Weakening Economic Cycle

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.