NJUF Investments company has created a cryptocurrency-based market for trade in crude oil and other commodities. Its founder believes that it is time for bitcoin to become a new reserve currency.

Shannon Lowery, founder of NJUF Investments and SecureTradePlatform is convinced that the US dollar will soon lose its value. In his opinion, this is going to affect all commodities and “shake the largest exporters.” The impact will be particularly strong for the oil market, where USD is used as the principal currency for settlements.

However, as Lowery claimed in an interview with Cointelegraph, market players have a solution:

“The crude oil market is for commercial interests to prevent speculation on oil prices. All actual buyers and sellers who take delivery of crude can buy crude oil and other energy products using BTC, because the USD is about to collapse in value.”

The expert refers to the current situation when a number of oil-exporting countries, such as Russia and even Saudi Arabia, wish to exclude USD from the "black gold" settlements, and Venezuela, for example, sells oil to its Latin American neighbours through a barter system.

“The long term focus is to provide stable prices in the global economy so that institutions and governments can properly plan for investments and that a system of fair trade may be had,” Shannon Lowry said.

He is sure that countries that do not find an alternative to the dollar, will fall prey to economic collapse. As an example, he quotes Venezuela, seized by social instability.

“The monetary policy of the Federal Reserve will soon cause economic chaos for commodities and simply put, this market has been created for economies to escape what is about to happen... Surely BTC has been a despised poster child as of late, but as ironic as it is, I believe it is the only thing that will save governments from the social unrest which will occur due to their policies.”

Lyudmila Brus