Doesn't the Euro attest to the possibility of some sort of "continental currency" emerging to address this issue? The politics are hard, yes, but then Germany and France both joined the EU, so it's possible some sort of SoCentAm Peso could be negotiated. If it means that the participating governments have better controls/auditing capabilities to gather their taxes because it's on a blockchain, it could be the catalyzing force to push these countries into some sort of Peso-based EU. In order for that to be true, the local currency has to vanish. Not run in parallel, but completely disappear. That's not going to happen for any country in the world because there's no impetus to do it.
Germany and France joined the Euro because it permanently enshrined their exchange rate against the Lira and Drachma. This is the reason Greece pretty much demanded Germany pay their debts back in 2015 - anchoring the currency without anchoring the economies caused the economic inequalities of the countries conjoined by the Euro to accelerate, not dissipate. And even then, the timeline looks like this: - 1945: Europeans mostly stop committing genocide on each other - 1957: European Economic Community created - 1992: Treaty of Maastricht - Also 1992: Black Wednesday - 1999: Euro introduced - 2002: Euro introduced to the public If you're going to introduce treaties and common currency areas and all sorts of massive legal crap like that, the people who use it will be fucking in the holodeck and mining the asteroids by the time it's available. There aren't any easy, predictable pathways for Central or South America to establish a reserve currency. Anything is possible? But it's not really in the cards right now based on the current geopolitical lay of the land. And "establish a reserve currency" was the entire point of the Euro. If they wanted to use someone else's reserve currency, they'd just do as they're doing.Doesn't the Euro attest to the possibility of some sort of "continental currency" emerging to address this issue? The politics are hard, yes, but then Germany and France both joined the EU, so it's possible some sort of SoCentAm Peso could be negotiated.