Some people talk about a cellphone/smartphone wallet. This is indeed the key to succes. You have to mind that 99% of the worlds population hardly heard of bitcoin nor crypocurrencies and if they did, it was in newsflashes pointing out the volatility. The big majority of the ones who invested some money in it, did it at the wrong time thus losing their money. result? No trust...
So, if you want to be accepted as a trustworthy way of transferring money, they need to be sure that the currency they're using doesn't act like some crazed pumo and dump altcoin (+40% today, -70% tomorrow). That's fun for the daytraders but it scares the hell out of people wanting to buy a burger and noticing they can only afford 1 topping with the same amount of coins a yesterday.
What do you need in order to achieve that? Be able to make the transfers that quick that you can buy coins for $/€, transfer coins in a split second to whereever you want with the receiver acting the same way (receiving coins/nem/whatever), selling their coins immediately for the same price in $/€. The only chance of losing anything is in the split second of transfer.
I'm no technician and don't know if this is realistic but in order to be accepted, you need this kind of stability (and monkey-proof ways of transferring money).
People who believe the currency (in this case: nem) will be worth more tomorrow than today, they just hodl
Possible? Hope so.
Too much focused on fiat? Welcome to the real world...The "real world" is what pisses people off. It's what we're trying to change. Imho we need to replace fiat not rely on it for the future.
This is what your are proposing (plz correct me if I'm wrong):
I wan't to buy a burger and exchange my fiat for NEM.
I give those NEM to Squidward at the counter.
Squidward imediatly exchanges those NEM for fiat again.
Why on earth wouldn't we just exchange fiat directly ? In your scenario cryptos don't have any purpose.
Imagine the same scenario but Squidward exchanges his NEM for a different fiat curreny then what I bought my NEM for. That's actually what Ripple is all about and it's a great concept but I don't think it's the main purpose of NEM. Imho we should try to get rid of fiat for good.