In my view, digital currencies are here to stay. When looking back in history, the introduction of machinery to replace human was not accepted with keen interest. It suffered a lot of resistance, leading to riots in fear of job losses suffered by workers. Today, factories are highly mechanised, robots involved especially in the motor industry. The same applies to the introduction of crypto currency. Financial institutions are faced with the problem of losing money generated from client deposits. Peer to peer payment introduced through digital currency means there’ll be no money circulated in financial institutions. The high bonuses received by their CEOs will reduce as result of reduced profits. My point is that the current situation where financial institutions or government department having power to freeze your account indirectly promotes the use of digital money.
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