The Transformation of the Global Monetary and Financial System Under Tokenization

... may strengthen the international position of the dollar thanks to the technological opportunities emerging from the universal tokenization of financial and real assets at the global level. Key global financial institutions—whose investment portfolios ... ... cartel-type financial intermediation. Now, to examine these two features in more detail. Credit-Based Money Aleksei Kuznetsov: World Finance in an Era of Trade Wars Formally, the U.S. dollar was recognized as global money at the intergovernmental level in 1944....