Does Global Trade Need A Global Currency?

Longitudes

Rimas Kapeskas

Our world is getting smaller, flatter and more connected every day.

The rise of e-commerce has empowered consumers and changed the landscape for buying and selling goods, while transforming the worldwide economy.

This omnipresent demand for goods, regardless of the market, will soon get even more intense.

However, the current payment, clearing and settlement systems are major bottlenecks to the flow of global trade. They are inefficient, have long settlement times and high-cost fees and exchange rates.

Today’s technologies have enhanced the global exchange of information about goods and bolstered transportation networks moving items across borders. People around the globe have access to virtual marketplaces that feel borderless.

But consumers are still stuck in the credit card age of payments for those transactions. Sure, credit cards have been around for 65-plus years. But they are ripe for a technological leap.

Breaking down barriers

[pullquote align=right] A unified, global currency…

View original post 760 more words

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s