INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
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ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIV, Issue IV, April 2025
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Global Single Currency (Gsc): Unified Financial Spectrum
Manu G
Ph.D Research Scholar in Management studies, IMK, Karyavattom Campus, University of Kerala, Trivandrum, India.
DOI : https://doi.org/10.51583/IJLTEMAS.2025.140400044
Received: 17 April 2025; Accepted: 21 April 2025; Published: 08 May 2025
Abstract: This article interrogates the theoretical and practical perspective of corroboration of a Global Single Currency (GSC)
within a single frame of digitally assimilated global economy. It conceives the basic proposition of value equalization (stable value),
exchange unification and unified form of currency as instruments for reconciling global financial disparities, intensifying trade
efficiency and enhancing a unified economic hub cross-border. Indeed, it has concurred through a resemblances analysis of the US
Dollar (USD), Indian Rupee (INR) and EUR (Euro), and a review of literature, the article also traverse the evolving role of digital
money and its core possibilities as the fundamental framework of worldwide single financial spectrum based on inclusivity and
interoperability.
Keywords: Global Single Currency (GSC), Value equalisation, Exchange Unification, Unified Economic Hub, worldwide single
Financial Spectrum.
I. Introduction
The decentralisation of global finance- where particular national reserve currencies dominate global trade, pricing, indexing,
exchange control and access the whole capital efficiency fluctuations in the money market. It has led to widespread deficiency
regarding the financial flows, inequality and monetary diffraction. In the argumentative view of economists, scholars and
institutions have submitted various referendum and research prospects in the doctrine of Global Single Currency that could imply
the unified economic currency system.
With the invention of digital currency , this proposal is now more attractive and feasible than ever before. Recently, worldwide the
government has initiated an initiative to verify or test the Central Bank Digital Currency (CBDC’s) for a move in the sigersation of
global payment and asset control of the digital currency world. Meanwhile, the same stand which led to digital assets in the stable
coin, crypto native digital assets evolved to maintain stable values which acquire accessibility and user empowerment. In these
circumstances, the global financial structure is transformed towards digitalization and decentralisation. This articles also obstruct
the physical financial transmission which emphasise that the introduce of digital era the equalised global single currency that
dismantling global exchange rate, balance of payment, balance purchasing power, reserve dominant currency surveyorship, and it
resolved all financial issues and which purified global economic spectrum it reflects the economic dignity and financial
responsibility at all which get equal value system of single currency, it access to provide all global citizen and it make a volatile
economic network.
Literature Review
The global single currency is an extreme version of value unification readjustment in the worldwide blueprint. It determines the
international standard of exchange index fixity, and readjust of currency mismatch and which stimulate the currency parity. The
fundamental theories and proposal came from old school of economists, Keynes (1944) his book the “Bancor” which proclaimed
as “a supranational currency designed to stabilize global trade through a clearing union” it consisted of balance and equalised trade
access.
In addition, the advanced trailblazing ideas were sophisticated from scholars regarding the global single money system. Robert
Mundell (1961), constructed a development theory of optimal currency areas, after that he propagated the global currency induced
to reduce the volatility and which led to promote growth. Stiglitz ( 2022), significantly identified the gap between globalization and
monetary reforms in the modern world and he further specifically argued that “globalisation without an equal monetary system can
exacerbate inequalities”, considered as international monetary reforms.
In the era of digital revolution: the modern financialist, Libra and Diem (2019) proposed the stablecoin updated by multiple
currencies and experimented with both the crucial and risk management privately assimilated in global currency. The Bureau Indian
Standards (BIS 2020), confred two supplemental contexts, one part: the international conference of business information system,
other attempted: data science and security which referendum interpreted the integrity of the role of Central Bank Digital Currency
(CBDC’s) to use for the digital platform and to evaluate the increcement of efficiency and financial inclusiveness. Further, the
World Bank and IMF recently launched the idea of equatable digital currency adoption and emphasised the ulterior importance of
interoperability and provide international standards of regulation and securities.
Conceptual Framework
The key concepts in this study, differently articulate certain instruments, particularly explain in the key cents are: -
Single Global Currency (SGC), it is a universal acceptance and medium of exchange rebuilt existing currency to replace national
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
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currencies in international trade and emerging global monetary systems and managed by an international authority with the
mobilization of decentralized policy.
Value Equalisation (VE), it ensures that one unit of currency portfolio is equivalent to the same purchasing power of parity
satisfaction across the different world markets or regions. It addresses and rectifies certain economic inequalities that are insisted
as readjusting accumulated income disparities, harmonising the international export and import- trade equilibrium upgradation,
enhancing the equitable distribution of digital currency mechanism and its computable devaluation.
Exchange Unification (EU), is a holistic term in the financial market scenario, because it destroys all kinds of existing money
systems and its practice, purifies the apex monetary authorities, especially the role of domination of reserve currency holders and
removes the glitches of gold standards of the referendum mechanism. Indeed, it can rotate or spread across the world without any
restriction and regulation. It proposed a high speed network and quick access at any time and anywhere. Hence, it will annihilate
all financial systems of proceedings that are: refuse the foreign exchange markets, abolish exchange rate of velocity, rescind the
arbitrate and eliminate obstruction from the international commercial market.
Unified Financial Spectrum (UFS), it is a global hub of the participants spectrum, which involves: individual, institution and
government. The ultimate activities held in this spectrum are trade, export and import, sell and buy, payment and deficits, debts and
assets creation, controle of capital share and investment portfolio management which operated within one emerging financial
integrated market environment wherein based on the equal status, transparency and collaborative trust.
The summarised unified financial spectrum hereby confined as follows:-
Figure: 01, Source: This study
Comparative Currency Analysis: Usd, Inr & Euro
This study hereby takes the samples of piece wherein to go comparison between US Dollar, Indian Rupee and Euro currency. Its
interpretation of comparison to execute hereby following tables, respectively:-
ASPECTS
USD
INR
EURO
Global Usage
Dominant Reserve
Currency (58% of global
currency)
Limited to regional trade
and remittance
Second most held reserve
currency
Exchange Velocity
Low velocity, global
High velocity, vulnerable
Moderate stable with
Global Single
Money (GSM)
Value equalisation
Unified Financial Spectrum
Nations
Exchange unification
Accessibility
Zero
satisfaction
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stability
to inflation
eurozone
Purchasing power
High, global standard apex
Lower rate, per weakent
decrease based on inflation
and deficit
Meddle- lower or high in
eurozone region
Digital collaboration
FedNow and evolve digital
dollar
Digital rupees under
emerging
Digital euro evolving way
Global acceptance
Technologically adopted,
politically vain
Infrastructure rectified and
poly reforms transferred
Seek advance
interpretation towards the
digitalzone of finance
Table 01, source :Review of International monetary fund
The reference to this, the most dominant currency is concentrated in US Dollar and Euro currency because the reason behind this,
these currencies which make full stable situations and maintained velocity decline nature. But in the case of Indian rupees, the low
rate of velocity and stability will change as per the intervention of inflation and deficit watch may be vary per weakened.
The Role of Digital Money in Global Single Currency Unification
The digital money is enhanced to boost the global single currency system and it helps to create an invisible standard of exchange
system wherein to move a single money spectrum. Digital money is a form of non-physical appearance and it uses multiple functions
throughout the world without any intervention. The uttermost components of the digital equipment are programmable transactions:
which lead the real time consequences of the automatic transaction and contract enforcement activities, second block chain DLT,
which encompeses the transparency movement traceability of the global standard digital system. Thirdly, international single wallet,
which focused to ensure digital ID and access globalwide transparency. Similarly, the central bank digital currency system which
also increased to demonstrate world digital unification stantared provider. It involves an interoperable system and it gives
crossborder payment without delay, further enhancing the public model and private key crypto assets blueprint system. In addition,
recently evolving the private digital currency which resolved the currency differentialities that provide stablecoin and it adopted
any pose of the digital currency velocity. But it has affected certain challenges also, especially regulator compliance, monetary
policy and controle mobility risk. Even Though, it has several benefits, trade efficiency, finance inclusion, equity are balanced and
quick response and access.
Control Panel of Transition Framework
It seeks the international digital control board for the purpose of translation work in the digital currency inflow and outflow. It
connects better reward og digital currency flow to customer integrated services. Its major tools of components are, firstly,
interoperate CBDC network, Global value equalisation index, global currency council, universal wallet system and exchange out
set flow.
II. Conclusion
In fact, the modern currency has evolved in the nature of transformation into a global single currency system via digital mode. This
kind of digital currency reaches the equalisation principle and inclusive framework which has the power to replace and redefine the
international currency market and its order. A unified currency system made a clear transaction channel to currency and customers.
However the global standard of single money speaks out the global financial language which leads to equal currency value, in a
digital form and united in transforming payment purposes without dominant currency balance.
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INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)
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