Cryptocurrency has been in play in the world financial system now for some time and we cannot doubt the fact that a lot of things have been changing gradually in how the financial world operates because of the new player in town(crypto). The term fiat has been in play since as long as I can calculate the time too.
Fiat money has been the medium used in exchanging goods with, I mean you give fiat money for goods and services rendered to you and this has been what we all knew for a long time before crypto came in, showing ways we can get the goods and services by just paying online with a new technology even more faster and sleeker. We should have been there all along.
Now that crypto adoption has increased widely and significantly, it will be no joke that needing fiat money to take care of goods and services will reduce and eventually to nothingness. Imagine the world without the use of fiat money and it's all payment with cryptocurrency, I mean, it will be so weird but I guess humans all adapt to things as time goes on.
Well, I'm not really sure maybe it's impossible for the fiat money to go out of play as It might affect somethings but I'm really not sure about that and I'm just trying to imagine how the work will be like, but maybe just maybe, it might be an impossible thing and fiat money has to just be in play.
I'm not sure as to how crypto will shape the future of fiat money but I guess whichever way it is done, we will definitely adapt to the system and get acquainted with it as well. For now we just need to enjoy the time we have with fiat money in case it will go out of play. To get Fiat money from the bank to get things has been quite stressful but it was worth the time.
I also believe Fiat money will not go out of operation completely and might change to virtual fiat money because what we use to buy and sell crypto is still the virtual self of fiat money. What is evident that we might actually lose is the feeling of holding its physical self here. Hehe.
Share with me in the comments which you would like to be in game play! Do you want fiat or crypto? I guess it depends on people's perspective about this and I'm ready to hear all about the perspective.
Have a great day and