Is a global virtual currency with universal acceptance feasible ?

TL;DR

This paper explores the feasibility and economic implications of establishing a universal digital currency to enhance global e-commerce and address cross-border financial challenges.

Contribution

It provides an analysis of the potential for a global virtual currency and discusses its impact on international digital commerce and monetary systems.

Findings

Digital currency can facilitate cross-border transactions.

Universal acceptance could boost global e-commerce growth.

Economic challenges and regulatory issues need addressing.

Abstract

As digital goods and services become an integral part of modern day society, the demand for a standardized and ubiquitous form of digital currency increases. And it is not just about digital goods; the adoption of electronic and mobile commerce has not reached its expected level at all parts of the globe as expected. One of the main reasons behind that is the lack of a universal digital as well as virtual currency. Many countries in the world have failed to realize the potential of e-commerce, let alone m-commerce, because of rigid financial regulations and apparent disorientation & gap between monetary stakeholders across borders and continents. Digital currency which is internet-based, non-banks issued and circulated within a certain range of networks has brought a significant impact on the development of e-commerce. The research and analysis of this paper would focus on the feasibility of the operation of a digital currency and its economic implications.