Topic: Should Fiat currencies still exist or be replaced by Crypto Currencies? - page 6. (Read 732 times)
October 09, 2019, 12:53:16 AM
We need the coins pegged in fiat. Some may not consider it crypto but that's I guess we are going. We still need that debit and credit card and all the rest since the government can't just take them out at once. We still need these fiat, I don't know for how long but probably around 20 years. I think there are cities who already practices paperless transactions and all they do are just credit, debit cards and so on. I think the city is in Swiss. The transition to crypto will take long.
October 09, 2019, 12:46:10 AM
So, we are moving into a new era where Fiat currencies are getting some competition from Crypto currencies and multiple other payment methods. People are simply not interested in using cash anymore, because cashless payment options are more efficient and also more convenient. < Debit & Credit cards / Crypto currencies / Gift cards / E-Wallets / Cheque / PayPal etc. >
So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options.
Is there still a need for Cash in this evolving world?
I can think of several scenarios where Fiat currencies are still needed, namely :
1. Where there are no electricity infrastructure.
2. Where it is not safe to carry expensive smart phones.
3. Where there are no access to the Internet.
4. Where there are a high number of illiterate people.
5. Where there are people with disabilities that presents challenges for electronic payment options.
I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies.
Please give your opinion and participate in the Poll.
So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options.
Is there still a need for Cash
I can think of several scenarios where Fiat currencies are still needed, namely :
1. Where there are no electricity infrastructure.
2. Where it is not safe to carry expensive smart phones.
3. Where there are no access to the Internet.
4. Where there are a high number of illiterate people.
5. Where there are people with disabilities that presents challenges for electronic payment options.
I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies.
Please give your opinion and participate in the Poll.
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