It is unlikely that an alternative system exists in perfect form today, but we can take clues from recent developments. Blockchain, for example, represents a significant potential disruptor to global finance. Digital currencies have the potential to disrupt money and banking in unpredictable ways. Alternatively, dollar replacement could come from a country that develops and commercializes some economy-shifting technology — whether that be in artificial intelligence, quantum computing, or clean energy that increases its importance to the global economy.
Innovation that disrupts the dollar’s dominance may begin in sectors outside of currency or foreign exchange itself. The dollar's primacy, after all, is built on a broad range of financial structures, including regulatory frameworks, global influence, contracts, and even sanctions.