Topic: In the future, will fiat currencies be necessary in the world? - page 3. (Read 35815 times)
Market may turn digital currency and use crypto currencies for large extent but fiat currency cash will be demand and necessity will be there in future both the developments are equally important in the economy
Today, its vague to determine how far the modernization would take around the earth. I can't actually imagine the absence of fiat as our medium of exchange. Funny to think how we can we give a beggar just a small money from our pocket.
It is not funny. People live according to their own "picture" of the world, although, logically, this world can offer similar things to each one. Still, most of the guys do not even care about cryptocurrencies.
Everything will change and we are also included in these changes. While our technology is improving and getting more developed, our world will adapt to these technologies and use them to make their countries move with the future. I don't know what will happen but all I know is that fiat currencies will still be there but the thing is that the technology will be so advance in the future that the fiat we usually know will be the same as the technology as the movie "In Time" but not that we will die if we don't have life but with the same currency and transactions. Just imagine how fascinating is that but still, it is necessary for a country to have a fiat. There will just be a development to it according to the technologies being made.
Today, its vague to determine how far the modernization would take around the earth. I can't actually imagine the absence of fiat as our medium of exchange. Funny to think how we can we give a beggar just a small money from our pocket.
In some point we dont need fiat. but again there are countries that really only on fiat. Its ok for most developed countries to have converted to not using fiat at all but still large amount of countries will be relaying on fiat for every day usage. We have good starting point on this but we may not see this in our life to see it. Mostly I mean to see someday payment in crypto for slice of pizza or a burger.
To be frank, fiat will not be necessary in future, but the governments would keep it alive, as they want to keep the financial matters in their control and fiat is the best medium to do it.
Fiat will resist but will be converted in digital coins to increase safety. But they will be centralized right now. Only better for governments.
To be frank, fiat will not be necessary in future, but the governments would keep it alive, as they want to keep the financial matters in their control and fiat is the best medium to do it.
National money is an essential attribute of every state. Therefore, the national currency will always exist. If the state abandons its national money, it will also lose its statehood.
Paper money of the states is one of the types of national money. Their walk in theory may be abolished, but this will not happen soon, if at all.
Paper money of the states is one of the types of national money. Their walk in theory may be abolished, but this will not happen soon, if at all.
The need for paper money will always exist. They remain the simplest and most convenient means of payment, especially for quick and small purchases. Non-cash forms of payment, including cryptocurrency, will develop further. however, they are not suitable for use in all cases. We should not look for universal means of payment. Let them work together. Paper money will always have its niche among the new means of payment.
Precisely, I think the two are compatible to work on its own individual way. Looking forward the fundamentals of cryptocurrency will difinitely give particular formation to develope its growth accommodatingly and fiat gives conveniency in a quick payments. So, I believe the two aspect will generate our necessities in separate ways.
The need for paper money will always exist. They remain the simplest and most convenient means of payment, especially for quick and small purchases. Non-cash forms of payment, including cryptocurrency, will develop further. however, they are not suitable for use in all cases. We should not look for universal means of payment. Let them work together. Paper money will always have its niche among the new means of payment.
You should look beyond what is happening at the back of each countries.
What is being hidden?
The poor. Those who live in rural places. Do we even think about them while saying NO we dont need fiat?
How can they trade their farmed goods or whatever they could just provide?
We know bartering doesnt work anymore and that is why fiat was created.
They dont have bank accounts. They dont even know what crypto currencies are. They dont have credit cards.
If there will be a change in financial system, it will an overhaul.
What is being hidden?
The poor. Those who live in rural places. Do we even think about them while saying NO we dont need fiat?
How can they trade their farmed goods or whatever they could just provide?
We know bartering doesnt work anymore and that is why fiat was created.
They dont have bank accounts. They dont even know what crypto currencies are. They dont have credit cards.
If there will be a change in financial system, it will an overhaul.
People stopped bartering long before fiat was even invented. Fiat is just scriptural money, people used precious metal for thousands of years.
Well i think in future maybe governments will create own crypto currency and most of people will use it, i think they will create maybe a coins like Nano which don't need miners to confirm and they will see how much coins are sent and when.
In fulfilling the daily needs of the community, they will still need exchange media such as paper money or fiat. Crypto will continue to grow in the future but that does not mean it will eliminate paper money or fiat easily. Not all people can reach crypto, as do people in rural areas who have limited internet network. The government will also not release its control from the financial sector by eliminating paper money or fiat.
I think that governments will create their blockchain and so each currency will be transformed in digital currency. So instead of Usd we will have Usd coin for Us dollar... or something like that. Blockchain grants right now a higher level of safeness. But in the future with quantm computer ( 30-40 years) things will change a little bit, but probably also any actual crypto algo will change as well..
We know bartering doesnt work anymore and that is why fiat was created.
This is totally false; fiat had nothing to do with, and was not created, for a superior alternative to barter. If you look at the history of money, commodities were used for thousands of years before fiat.
i think fiat will always be needed for the people. because there will be always ones that prefer the traditional ways. but ofcourse the popularity of using cash will be so low comparing with nowadays.
Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.
well, the need for fiat will always be there. please note that fiat is very important as a transaction tool. I agree when saying that fiat will always be needed, because nowadays, even though cryptocurrency is currently popular, however, people still depend on fiat for local transactions.Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.
well, the need for fiat will always be there. please note that fiat is very important as a transaction tool. I agree when saying that fiat will always be needed, because nowadays, even though cryptocurrency is currently popular, however, people still depend on fiat for local transactions.
Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.
I think 50 years from now, paper money can be eliminated. because that would be a useless stack, so everyone can move to transactions using crypto. and does not leave any marks.
I do not think so. People, who will never understand what the cryptocurrency is, will always exist. They will never be able to use virtual money. In some places, using crypto will be always impossible technically.
In fulfilling the daily needs of the community, they will still need exchange media such as paper money or fiat. Crypto will continue to grow in the future but that does not mean it will eliminate paper money or fiat easily. Not all people can reach crypto, as do people in rural areas who have limited internet network. The government will also not release its control from the financial sector by eliminating paper money or fiat.
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