With the current trend towards the use of electronic currencies and the use of the Internet for all things financial, many people are considering the possibility of one world currency being forced upon the citizens of the world. For decades this concept has been the realm of science fiction in which the world has migrated to a single government and a single currency with everyone living at peace with one another. While paper money may be slowly replaced with the use of plastic cards and online banking, most economists tend to agree that the concept of a single world currency is a bit too farfetched and unlikely to be successful. Little do they know that the UN is actively planning for just such an outcome.

What we may see is a considerable reduction in the use of paper money, if you look around you will already see this is occurring. In its simplest for take a look the next time you go shopping and see how many people pay with plastic versus those who pay with cash. In the financial world it is even more predominant as the use of electronic currencies continues to increase. However, with so many different governments the concept of one world currency will be more difficult to pass simply because of the strain that it would put on their economies.

Some countries have the view that a one world currency would help solve the world food crisis. Other countries strongly oppose that viewpoint.

Instead what is more likely to come to pass is a reduction in the total number of currencies in use which is something that we are already starting to see. Consider this, when the crude oil price is quoted on the market, no matter where the crude oil originates from, the price is quoted in US dollars, the same applies to many commodities. The Euro is rapidly becoming a second currency and both are used to negotiate contracts for commodities rather than the Saudi Riyal or the Kuwaiti Dinar. You will find that countries prefer to deal with these major world currencies as well.

To further emphasize the problems associated with the idea of one world economy, one only has to take a look at what has happened in Europe with the introduction of the Euro. Intended to help make inter-country commerce easier and stabilize the overall economy, it has led to more instability and severe economic problems in countries such as Greece and Iceland where runs on the banks crashed economies that might have otherwise remains stable under their old currency. There are those who feel adopting a single currency would be a major step towards solving many of the world's problems. While this may in fact be true, the biggest concern is how many more problems would be created as a result of a one world currency?