It is strange, but real. Money will be removed and replaced with a digital currency system.
It's not strange really, what's stranger is why it wasn't even implemented till now. And no, even if physical money did get removed, it doesn't necessarily mean that crypto would be the one to replace it, rather, they'd just digitize fiat obviously. I'd honestly never considered fiat being removed since originally, its goal was to bring convenience in most aspects of financial transactions. Now if the government actually spent the time improving the systems to accommodate the number of transactions done daily, then it'd probably be much more convenient than what it is now. As long as people don't see the convenience of how to use Bitcoin, I really doubt it'd fully replace fiat. 
Topic: Cryptocurrency: The Future of Finance in a New World Order? - page 8. (Read 949 times)
OP,you sound way too dramatic.
The global financial system will change,but the changes will come slowly and in a more evolutionary way,rather than creating a "financial revolution" that will destroy traditional banking and finance.
The pandemic changed the financial landscape a little bit,but there's nothing groundbreaking.
The fiat system will continue to exist in the future decades.CBDCs might become a thing or they might be a failure.Nobody knows what will happen.
Cashless society will become the norm after several decades.
The global financial system will change,but the changes will come slowly and in a more evolutionary way,rather than creating a "financial revolution" that will destroy traditional banking and finance.
The pandemic changed the financial landscape a little bit,but there's nothing groundbreaking.
The fiat system will continue to exist in the future decades.CBDCs might become a thing or they might be a failure.Nobody knows what will happen.
Cashless society will become the norm after several decades.
Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
It may be strange when we think of it now, getting used to the traditional way, money on our pockets, wallets, going to banks to make transactions, but because of the pandemic, even those people who are not familiar with digital banks and cryptocurrency would be convinced to make transactions and receive money digitally, because we have no choice, therefore it is slowly becoming a norm in our society (well, at least in my country). I do believe in a future wherein we'll hold our money not physically, but digitally, through our smartphones/digital wallets.
It is not so much about replacing the physically currency but about the regulators and banks world over realizing that the people's movement of their right to have Bitcoin isn't going anywhere.
They cannot just make open source software illegal on a legislative whim. A gradual consensus is emerging within Civil society aided by certain rich individuals (Jack, Elon) that the Govt does not get to have a monopoly on currency. Over the course of development of money, governments have been the de-facto power. Nobody questioned it. Any attempts to change the system were met with retribution because those were started by people or groups. Now, here we have an alternative to money which the government cannot morally and ethically call wrong.
It is open source and people are choosing to use it. Just the way that people choose democracy and give all the power to chosen representative. Power flows from the people and thats what bitcoin has enabled in terms of Socio-economic power.
They cannot just make open source software illegal on a legislative whim. A gradual consensus is emerging within Civil society aided by certain rich individuals (Jack, Elon) that the Govt does not get to have a monopoly on currency. Over the course of development of money, governments have been the de-facto power. Nobody questioned it. Any attempts to change the system were met with retribution because those were started by people or groups. Now, here we have an alternative to money which the government cannot morally and ethically call wrong.
It is open source and people are choosing to use it. Just the way that people choose democracy and give all the power to chosen representative. Power flows from the people and thats what bitcoin has enabled in terms of Socio-economic power.
In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
https://www.ithb.ac.id/en/article/Cryptocurrency:-Masa-Depan-Keuangan-Tatanan-Dunia-Baru--31
https://www.ithb.ac.id/en/article/Cryptocurrency:-Masa-Depan-Keuangan-Tatanan-Dunia-Baru--31
Jump to: