Do you think cryptocurrencies can become the only transnational currency in the future ?
We currently use the money for all the transactions that we do in our country. After decentralization and digitalization, do you think everyone will be using cryptocurrencies instead of real money for all the transactions? I'm just thinking about the far future.
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I doubt it.
Cryptocurrencies have great potential to replace fiat in day to day transactions, but even at that it would be hard to phase out fiat completely.
There'll still be a section of society that does things the old fashioned way. Better technologies don't always succeed in making the older one non-existent.
Take media for example; newspapers have bee around as far back as the 19th century. This is 2018, and despite the arrival of radios, television and the internet, there are many people out there who prefer reading their news in print.
The discovery of fire was integral in moving human civilization to where it is today. Despite that, tribes have been found in modern times that put their food in tress to warm them because they hadn't discovered fire yet.
Cryptocurrency will change a lot of things, but fiat will still be around in the near future.
No it will not be in future because there are businesses which are required to go through national curreny and if only cryptocurreny will be in market how can be world be compared with each other and the GDP will be also down if it is been done.
If cryptocurrency will only be transnational currency then there will be more fraud chances of gambling so to run the natinal therr should be need of national curreny also.
IThe era will cone there will be only cryptocurreny but it will take millions of years to convert this because in the world there are millions of people who are illetrate and still they are searching to earn some money and to run the cryptocurreny platform there should be need of machinery like computer or mobile phone so therr are poor people who are lack of even to buy a single phone then how can the world be converted into virtual currency.