Considerations for the usage of a single global blockchain currency

First of all, I think this is unlikely. It would be more practical for the use of blockchain and cryptocurrencies to reap the most benefit in specific use-cases. However, below are some points to consider if adoption of a single global cryptocurrency were to occur.

Pros:

Inclusion: A worldwide blockchain currency could help include more people in the financial system who don't have access to banks.

Standardisation: Prices for essential goods like food, water, and electricity could become more standardised across countries, as it would be far easy to spot discrepancies in cost between between countries. This would be a much fairer way to do things and I believe it would help reduce exploitation and discrimination.

Fraud: Transactions recorded on-chain would be easily auditable and traceable, helping to discourage, prevent, and track crimes within this perview.

Easy Global Trade: A single currency could make buying and selling between countries smoother, as well as between individuals who live apart.

Resilience to censorship: A decentralized currency could resist censorship attempts from governments or centralized authorities.

Cons:

Consolidation of power: It's possible a few entities can gain significant influence or control over the currency, depending on the type of blockchain / consensus mechanism used.

Governance: Establishing global standards and regulations for pricing and trade under a single currency could be challenging and would require a level of international cooperation that I'm unsure is possible.

Privacy: The benefits of transparency and accountability are counter balanced by the reduction in privacy. All transactions are on-chain for everyone to see.

Ease of use: Not everyone would be capable of understanding or using the technology required. I imagine physical currency could never be completely replaced.

Carrington Event: A solar storm of his magnitude could grind the entire financial system to a halt. Contingencies would have to be put in place allow operations to continue in this scenario.

Energy Usage: Depending on how it's set up, the currency could require huge amounts of power to operate and maintain. This would raise environmental concerns.

Single Point of Attack: One blockchain means a large single point of vulnerability in case of glitches or malicious attacks. This doesn't seem resilient or practical.

Transition: The move from existing fiat systems to decentralised blockchain currencies could prove challenging.

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