If the petrodollar loses reserve currency status, what’s most likely to replace it (other than cryptocurrency)?

There are many ways it could go. Whilst, conventional wisdom would say, the runner-up might take the crown, that might not happen.

I very much agree with Ron Paul when he says, that SDR (Special Drawing Right) could become the currency of choice. The problem is the dominance of the US Dollar is high. In plain English, it has the largest share of the pie.

Once that dominance is countered by other currencies equally, then any one country hijacking the price-pair or debasing another country’s currency is then limited. Still doable, but limited in scope.

Because some nation would always be controlling the value and circulation of their currency, it presents to them a huge advantage over external economies where their money is used.

It makes more sense to have an asset index be the tradable currency, which then subsequently reduces the overall risk of this currency, as too many underlying assets are making it up, hence, limited influence.

Such an index if created, other than just the the basket currencies, would be the ideal solution.

You can read up more on SDR at: Special Drawing Right (SDR)