that would  be ideal on academic papers.  The creation of Euro was an attempt to provide an altenarive to the US dollar.  Yen was another choice for reserve currency.  The bottom line is a reserve currency needs a strong economy and mighty military power to protect the currency.  Chinese yuan can become a reserve currency one day, when it can be freely exchanged.   

As of today, with all the problems in europe, declining population in japan, and the general mistrust of the chinese government,  the US dollar remains the largest used reserve currency by  a mile.