In the 21st century the superiority of the United States (US) is declining, from the side of the US military lost the war with the Taliban in Afghanistan, the same is true in Iraq, the US attitude is very cautious.
From a political and economic perspective, US influence in the world is increasingly disturbed, if previously there was a Euro currency now the US economy, especially the US Dollar, is increasingly pressed by the BRICS trade agreement (Brazil, Russia, India, China, South Africa). In its development, the discourse of dedollarization increasingly emerged, even involving US partners in the Petro Dollar system.
Significantly China's export trade has always beaten the US in the last 5 years, despite the fact that the US Dollar is still excellent in international trade, with a share of 58.4%*.
Even so, it seems that various countries are satisfied with the use of US Dollars, they want to reduce US domination. In the end the US Dollar will flood back into the US itself, and will collapse the US economy.
Some economists consider de-dollarization to be a dilemma, because the impact is bad not only for the US economy but also for the world economy as a whole, so de-dollarization can only be a solution on one side.
While some Muslim economists, it is not only the dollar that will be reduced in use, but fundamentally, the use of paper money needs to be replaced or at least backed up by a precious metal, namely gold.
In one hadith, the Prophet said "The time will come to mankind, when there will be nothing useful but dinars and dirhams" (Narrated by Ahmad). By nature, gold money (Dinar) and silver money (Dirham) can indeed be accepted by everyone and all circles around the world.
Intrinsically gold and silver do have value, and they are easily broken into small pieces. Gold and silver deserve to be used as standards in assessing goods or services, very appropriate as a medium in involving prices, the use of gold and silver will facilitate and clarify the implementation of the muamalah maliyah contract.
In conclusion, if you want a comprehensive solution for all countries in the world, then the answer is to go back to gold money (Dinar) and silver money (Dirham), not switch to cryptocurrencies such as bitcoin, due to the fact that Central Banks around the world have begun to increase their gold reserves, in reaction to dedollarization**.
Wallahualam Bishawab.
Reference:
**https://internasional.kontan.co.id/news/dedolarisasi-jadi-isu-hangat-emas-menjadi-buruan-bank-sentral-global