Future. The dollar is dying and no longer necessary for oil purchases. Russia, China and any other major player out there are willing to play with new poker chips like Yuan and Gold.
The dollar will be done away with. (unless the US can get a war started)
The "New Dollar" will be crypto and all will be duped into using it (cuz they did such a nice job fupping duck the paper one).
Then exchanges will be allowed to trade only in "Legal" crypto like the YuanCoin, USDcoin, etc. (which will all be centralized).
Right now we need to educate people on what is a crypto, why we need our keys in our possession and why a centralized cyrpto is NOT crypto. A centralized block chain will need bail outs just like the banking system did.
- We Need Out !
This is what is happening to the US dollar ^^
The petro dollar is indeed becoming unnecessary and it looks like especially China is starting to show its influence on the global market. However I do have my doubts that they will ever succeed making a centralized crypto successful, but we should keep our eyes open! Unless people are staying in oblivious ignorance...we're gonna have some great times ahead of us. With what the blockchain is able to provide for us the whole infrastructure is gonna change, exciting times :D!!
@sponge-bob,
Indeed "a centralized cyrpto is NOT crypto." I also fear for that! They are trying to faking people by saying "Hi, this is the crypto"! But we are still trapped and attached with fiat! Yeah it might change, but not a very easy thing to do! Anyway now we live in the era of crypto!
Cheers~