The World Bank Needs to Create a Universal Coin

There are a seemingly endless amount of blockchains, with the latest coming from The Ant Group as they released AntChain for the group’s blockchain based solutions; the World Bank should create a global coin that allows for financial institutions to use the system and exchange local currencies; there’d be no “new” money or mined coins, the only volatility would be the traditional currency exchange flux between the world’s two most used fiat currencies; this would help to accelerate the use of cryptocurrencies around the globe, right now the industry is filled with enthusiasts; Daniel Döderlein, CEO and Founder of Auka, writes in Forbes, “I might be naive and I’m open to hearing otherwise but I honestly believe it’s that simple. If we’re truly looking for a digital way for money to be exchanged between parties across a public ledger, the solution exists, but it has little commercial value to powerful stakeholders, so that’s why it’s not materialised.” Forbes.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.