A note Why XRP Can Replace Petrodollar? appeared for the first time Coinpedia Fintech News
What is happening in the Strait of Hormuz is not just a geopolitical issue. According to Mickle’s expert, they may be the time when the world learns that it does not need the dollar to set up trade.
“What’s happening in the Strait is teaching all these other countries how to do things other than the petrodollar,” Mickle said recent discussions. “If this starts to happen, we will see XRP, Ethereum and a few other tokens being used in other parts of the world.”
Escaping Money, Not Just Dollars
The policy that Mickle is against is based on the economic theory of Ray Dalio, especially the last part of the collapse of savings where the flight is not from one currency to another but from the currency itself.
For many years, this last step was thought to involve the Chinese Yuan entering the dollar sector. Mickle argues that the story has changed. Even Dalio, historically the gold standard, seems to have been after something else. The question was no longer which country’s currency was in control. It’s like every country’s currency rules.
“I think Ray Dalio took his point of view because the last part is now running away from money,” Mickle said. “Digital assets make it possible to step down from the global financial system and into a more neutral environment.”
Why XRP Is Enough This Time
Mickle spoke bluntly about the values that are important as countries look for alternatives to refugees. Deep pools of liquidity. Global extinction. Ability to move value at speed. And neutrality, meaning that no one government rules.
“There are only a few tokens that fall into that category and XRP is one of them,” he said. “This is where things like XRP can be successfully implemented globally.”
Gold, he said, used to fill the treasure store. But real gold can’t solve 130 ships a day running into trouble in real time. Digital assets can.
The Dominos Are Just Starting to Fall
Mickle’s time is long. Dedollarisation and deglobalisation are decade-long developments in his view and the technology to support them is only being introduced as these become more prevalent.
“I think we’re just a little bit ahead of the curve on the technology to make that happen,” he said. “This is the dominoes starting to fall.”
With the Strait of Hormuz closed, Iran’s demand for cryptocurrencies and control of US-Iran talks are collapsing in Islamabad, which Mickle explains is no longer a fantasy. It is tested for stress in real time.
