Why can't money be universal?

Enabling a tech stack that makes universal money possible

In recent posts we've covered a few topics about the history of money or the characteristics of what makes money, money. We've also talked about how the current money system works well for certain things, and does not work well for other things.

We even covered the debate about public money versus private money and how there are new money possibilities created because of blockchain and open digital ledgers.

All of this leads to a question, and a natural place to end this section on money. The question is: Why isn't there some form of universal money? We mentioned global reserve currencies previously, and certainly there are currencies that are dominant globally, but they are not exactly universal.

The are real reasons why, so far, the people of Earth have not been able to organize or create a form of money that transcends political and geographical borders. But maybe technology changes that. And maybe the technology is finally ready to make universal money a reality.

For the first time in history, the tech stack required to transcend jurisdictional constraints and create a borderless money system actually exists. The emergence of decentralized digital ledgers — Bitcoin, in particular — has unlocked the potential for permissionless, non-sovereign financial infrastructure.

But Bitcoin alone isn’t enough. Its base layer prioritizes security over speed, making it cumbersome for everyday transactions. The key to universal money isn’t just decentralization; it’s usability.

This is where the Universal Money Address (UMA) Standard comes in. Built on Bitcoin’s Lightning Network, UMA abstracts the complexity of crypto and enables a simple, email-like address for sending and receiving money across borders.

It solves a crucial user-experience problem: rather than requiring long alphanumeric addresses or complex on-chain interactions, UMAs allow transactions to be as intuitive as sending an email. More importantly, they enable seamless currency conversion—someone can send dollars, and the recipient can receive pesos or any local currency, all without the need for traditional banking intermediaries.

Lightning makes this possible by acting as a layer two network that enables fast, low-cost transactions while still leveraging Bitcoin’s security. It also introduces a more human-friendly addressing system—essential elements in making digital money truly universal.

But technological feasibility alone doesn’t guarantee success. The real challenge is adoption. A universal money system needs buy-in from wallets, banks, and exchanges. Without network effects, even the most elegantly designed system risks obsolescence.

The path forward isn’t without obstacles. Regulatory resistance, integration hurdles, and trust barriers could all slow down UMA’s potential. But the concept of a universal money standard—one that abstracts financial complexity and prioritizes human-centered design—is powerful.

For the first time, we have the infrastructure to make money truly global, open, and permissionless.

So now the question turns from technological feasibility to actual demand and adoption.

This post is part of the Open Money project, an ongoing series that forms the basis of a longer work. Subscribe to get a weekly update as it unfolds.

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