Deutsche Bank said Crypto will Replace Fiat Currencies by 2030! Really Possible?

travwill

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Quote from: jacafbiz on December 10, 2019, 02:12:11 PM

One ting I know is that Fiat currencies are under threat and central banks know this. A lot happens between 2010 and now, so this coming decades is going to disrupt some Government positions. Another thing we need to understand is that millennial are getting into position of power and will help in shaping the coming future generation

This is a pretty loud statement. In fact, what we have now on the cryptocurrency market is whale market management.
So, bitcoin and the entire market will do what they want, which in turn makes cryptocurrency less capable of replacing the current financial system. So no matter what the banks say, it can just be chatter.

duuuuude

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Quote from: Bitcoincc on December 28, 2019, 06:07:46 PM

Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

Did he mean digital will replace fiat all over the world? Or in some countries? Or in some cities?

In the world, this is not possible. 2030 is just a decade from now and it is too short for such to happen. In Africa and Asia and if not all the countries in the world, some people do not have access to browsing phone. Although there could be ATMs but there are some trader that will not accept digital as payment. They will accept fiat because they are using small phones that they can afford that has no browsing features while some traders in Africa and Asia will not even know how to operate the phones.
By that time, more people will deal with digital currencies but can not replace fiat fully. This could be achieve in more than 3 decades from now.

Despite the fact that the technological cocoon is developing with a very rapid progression, do you think that ten years is not enough? Remember 10 years ago the Internet, our gadgets and the opportunities that have appeared. Adequate people can safely switch to digital but there are corporations that always slow down the process of all good undertakings.

Bitcoincc

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Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

Did he mean digital will replace fiat all over the world? Or in some countries? Or in some cities?

In the world, this is not possible. 2030 is just a decade from now and it is too short for such to happen. In Africa and Asia and if not all the countries in the world, some people do not have access to browsing phone. Although there could be ATMs but there are some trader that will not accept digital as payment. They will accept fiat because they are using small phones that they can afford that has no browsing features while some traders in Africa and Asia will not even know how to operate the phones.
By that time, more people will deal with digital currencies but can not replace fiat fully. This could be achieve in more than 3 decades from now.

btcmurat

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I think the big banks control it. Bitcoin has been on the market for 10 years. Bitcoin proved itself. There is instability in the price of bitcoin. It doesn't matter. I think it's the point. Inflation of paper money. This can be overcome with a fixed number and a more transparent payment instrument. This is Cryptocurrency.

qiman

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I think as more kyc and aml regulations come into effect this will bring about the rise of digital transactions. In Greece for example now more and more cashless payments are being made, especially in restaurants by law to avoid the V.A.T tax evasion that was rife in the country until this new law was implemented. Also crypto enthusiasts and libertarians on the other side like to hoard and amass the more individual tokenized assets and decentralized coins like Bitcoin and Monero to take a stance against the general powers that be, like our current fractional reserve banking system, which have impoverished generations of people and have created a prison planet of slavery. There will be more cashless societies in the future but how fast cash will disappear, that, no one has the answer for yet.

Bonwin

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It is actually a thing that looks so impossible, but if crypto projects can be meaningful enough and bring satisfaction to its users, then gradually acceptance and outright adoption will come in, which will then result into the possibility of it almost replacing fiat, but the fact is that, it cannot happen.

jossiel

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Payments will more of digital during that year but it doesn't mean that majority of payments will be made in crypto. I believe that crypto's will still exist during that time if the market cap grows tremendously and the demand won't drop.

It looks like bitcoin is just starting this time and making itself look like a new born currency, this is the perspective of the people working from the banking and government sector.

wxa7115

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Quote from: btcltcdigger on December 15, 2019, 03:32:25 PM

Will by 2030 crypto be widely recognized and used? YES
Will by 2030 crypto completely replace fiat? NO

The bank lobby is just well built and 2 strong to go down in 20-odd years.

Remember, banking system is more than 2000 years old

Not only that in order for the banking and the fiat system to be completely replaced we will need to convince every single person of how it is a terrible idea to have a currency that is not backed by anything and that it is a terrible idea to take loans for stuff that you do not really need, and just a quick glance at the finances of almost any person that you could find on the street could show you that almost no one is ready to accept that reality.

People love the idea of being able to buy whatever they want even if they do not have the money to do so, they do not understand that they will need to pay what they borrow with interests and that if they waited they could have bought what they wanted and many other things as well.

biddicoin

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Quote from: pragna on December 13, 2019, 10:46:21 AM

I think it is not possible yet that by 2030 Crypto will replace Fiat currencies because more than 100 years system we can not change in 10 or 15 years.

very possible, the technology development is so fast now.
it would be different development last time ago and nowadays.

Quote

Though technology is more fast now-a-days but how we can ensure where we see graph of 2009 to 2019 is going low crypto market.

going low? what do you mean?
Bitcoin is going to be higher as time goes by.

Zionatin

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Much has happened in the last 10 years since bitcoin was invented. The next 10 years are going to be great. IF even banks are saying that bitcoin is here to stay and crypto is going to replace fiat soon then it must be true.
We are all going to be rich so long as people do not get too greedy and silly. There still so many other currencies that can moon like bitcoin and we all still way early into adoption. I think most of us won't believe or do not realise that if we went ahead 20 years from now we are all rich. Everyone on this forum.

davinchi

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There is no "replacing" fiat currencies, they will always exist, how could dollar/euro or whatever else would be totally gone and crypto replace its place? That won't ever happen. The maximum that could happen in 10 years time would be crypto having a bigger role in our lives and adoption rate reaching to a point where we all have crypto cards where we spend money everywhere we go in crypto (pegged to fiat probably) so that we never have to have fiat in our bank accounts ever again.

Maybe wages could turn into crypto as well in time but I am not sure if 10 years is good enough for that, there are already places that pay crypto wages currently, maybe there will be more but I think it won't pass %5 of all wages paid in 10 years time. We just need fiat to be destroyed as well as we need crypto to be hyped.

metalglowd

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Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

For the moment this kind of statement is still uncertain, this kind of thing has a 50:50 chance, so if until I think the next 5 years about the development of crypto significantly moreover about adaptation for daily activities, I think it will be impossible, so let see 5 years more to see that glimpse future

jcarlo

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Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

I'm not an expert on cryptocurrency, but I don't think cryptocurrency will replace fiat money. The use of fiat money has taken root in society and I think it needs a long socialization if cryptocurrency replaces fiat money.

efxtrader

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Quote from: albrots on December 17, 2019, 03:43:25 AM

All also depends on the policy of the central government. If in Greece regulations have been applied using card payments / bank transfers 30% of monthly salary, this makes the use of paper money reduced and switch to the digital world.
The crypto and Fiat digital currency classes will certainly occur in the coming years because now more and more digital money is being used.

Agree, for payments and transactions I think the central bank will not be affected by cryptocurrency because the central bank has a hand that can regulate the economy. The use of crypto might be quite limited although I think crypto like Bitcoin can be used as digital assets like Gold

ice18

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Thats 10 years from now Im not hoping that crypto will totally replace fiat but I think one thing is for sure more adoptions on this year from centralized system to fully decentralized and this will happen with the help of blockchain technology, if we look back like what happened 10 years ago when bitcoin still not so popular and only few are interested and some users just ignoring it, look at what we have now? Bitcoin is like gold can be used to buy goods and can be exchange to fiat easily, Im sure in 2030 almost all merchants will be able to use crypto because of demand from users.

albrots

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All also depends on the policy of the central government. If in Greece regulations have been applied using card payments / bank transfers 30% of monthly salary, this makes the use of paper money reduced and switch to the digital world.
The crypto and Fiat digital currency classes will certainly occur in the coming years because now more and more digital money is being used.

nanaimogold

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Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

I believe it is possible. The world is seeking for better ways to interact economically and there's no better way than through cryptocurrency technology. Ecowas is already seeking for a single unified money for its member states. Bitcoin and crypto can unite the world and the global leaders might take their chances if they can control it

K4C

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Cryptocurrencies are the logical next step in the evolution of money and I really and truly believe this, by the year 2030, Governments around the world would have created their own Cryptocurrencies for their citizens but I believe that Bitcoin would still be the global Cryptocurrency, so many innovations coming to the Cryptocurrency space and it's just amazing to see where we are now, and knowing what's coming in a few years from now.

Ezravdb

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Quote from: Gotumoot on December 10, 2019, 10:36:31 AM

I've read these thread several times, crypto currency will replace fiat in the future blah blah ..

But how can crypto replace fiat?
First of all government acceptance and adoption, it can be.
Second is people's awareness, but not all will agree to use crypto and removed fiat in circulation.
Third, Everyone needs to know how to use a smart phone, have their own internet, have their own pc. That I think its hard to accomplish.

I agree, it is quite difficult the fiat currency to be replaced by the crypto currency. Not everyone knows the crypto currency and not all countries have good internet connections. cases like this are often disputed between fiat and crypto currency. I am not sure that in the next 10 years all countries will formalize the crypto currency for every sale and purchase transaction.

Xcode7

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Quote from: mirrasel on December 10, 2019, 06:27:43 AM

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. Shocked

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? Huh

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

I think again it's just a possibility. Digital can be a reality in the future, but to replace the original currency, it is likely not. Because cryptocurrency is also based on the original currency, but if for the times and convenience for its users, I totally agree.

Topic: Deutsche Bank said Crypto will Replace Fiat Currencies by 2030! Really Possible? (Read 504 times)