National currencies always have the advantage over private currencies.

国家发行的货币总是胜过非国家发行的。

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It is, after all, only a bundle of national currencies-no more than the sum of its parts.

说到底，SDR无非是一个由国家货币组成的货币束，是其组成部分的加和而已。

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This is because the SDR is simply a potential claim on the national currencies of IMF members.

这是因为特别提款权只不过是对国际货币基金组织成员国货币的一种潜在索偿。

youdao

But it should be a voluntary one, one that ran alongside the other national currencies.

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The recent currency crises in Asia, Russia and Brazil have been produced by central banks and their soft national currencies.

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Consequently, it is those core features that stoke direct competition against national currencies and bitcoin possesses all three.

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