every country has a policy about the future of crypto currencies. America may delete fiat currency and replace it with digital currency, but it is different from policies with other states. in my opinion, we still need fiat currency in our lives because not everyone uses crypto currencies. and not all countries legalize crypto currencies.
Yes, every country has a different policy in using cryptocurrency on which can help their citizens to minimize the risk and use it according to its purpose. It can't also change financial institutions completely as we know that their are places who doesnt know it because of lack in accessibility in the internet on which the fiat currency are mostly needed in order to transact easily. 
Topic: Will Cryptocurrency change financial institutions completely? - page 2. (Read 760 times)
No, not completely, but it will brought many changes. Financial institutions, can either cooperate or compete by improving their services to cope up with the cryptocurrency exchanges and trades.
t I think in terms of terms of taxation bitcoin can affect the financial institution because we can buy or pay anything without tax and government has no income in every transactions that bitcoins had.
bitcoin itself cant be taxed but the goods that you are buying online can be taxed . aside from tax , we also pay for the transaction fees . crypto is pretty costy to me if used as a currency means .
This idea of getting rid of fiat completely to me is a fallacy. In my own opinion crypto and fiat can co- exist without this constant rancor created y some crypto enthusiasts who know little or nothing about the finance world..
fiat money wont ever be replaced by a cryptocurrency because like what others said , not all have the ability to use it because they are lacking of knowlege and they didnt have the required resources to run a crypto . i agree on you that crypto and fiats will co exist together , infact its actually happening today .
every country has a policy about the future of crypto currencies. America may delete fiat currency and replace it with digital currency, but it is different from policies with other states. in my opinion, we still need fiat currency in our lives because not everyone uses crypto currencies. and not all countries legalize crypto currencies.
This idea of getting rid of fiat completely to me is a fallacy. In my own opinion crypto and fiat can co- exist without this constant rancor created by some crypto enthusiasts who know little or nothing about the finance world..
Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?
uniting the global economy? and eliminate cash? if indeed that happens it is the progress made from the big countries, and it cannot be denied that many other developing countries will participate. You could say this is one form of change in the economy that was influenced by the digital era.This is not going to happen. Unite global economy and no cash, not a chance. At least not in our live time but in general I think that expecting so huge changes from cryptocurrencies is utopia. They are just not designed like that and global economy couldn't rely on them, such system would crash. I wouldn't say it's completely impossible but for that some major changes in technology of cryptocurrencies would be needed.
Globalization has been rapidly progressing but were still far from having a united global economy, much less a cashless society. Even with the formation of the UN, I still think that having a global economy is far from reality. As for now, were already experiencing technological advancements due to crypto. Blockchain technology will soon be utilized everywhere.
Well honestly, it is not that easy to change the financial institution in a very short period of time. Honestly, even a decade is still a short period of time to take and make change eventually the financial institution. We all know that we, people are all born and sees the financial industry with a fiat currencies as the medium. And so this brings up the existence of the crypto currencies resulting people to decide that it would be a better one for our financial institutions as making it a medium for our payments methods.
Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?
uniting the global economy? and eliminate cash? if indeed that happens it is the progress made from the big countries, and it cannot be denied that many other developing countries will participate. You could say this is one form of change in the economy that was influenced by the digital era.This is not going to happen. Unite global economy and no cash, not a chance. At least not in our live time but in general I think that expecting so huge changes from cryptocurrencies is utopia. They are just not designed like that and global economy couldn't rely on them, such system would crash. I wouldn't say it's completely impossible but for that some major changes in technology of cryptocurrencies would be needed.
Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?
uniting the global economy? and eliminate cash? if indeed that happens it is the progress made from the big countries, and it cannot be denied that many other developing countries will participate. You could say this is one form of change in the economy that was influenced by the digital era. 
Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?
I'm not a blockchain developers but it's not that easy to completely get rid of cash especially on "third-world country" like in my country. Most of people here don't know what is bitcoin and what is cryptocurrency. I guess America, europe and japan first who will get rid of cash. 
I think I also trade crypto money, so for me, if I think about getting rid of cash, I don't believe it might work, so I think both are good currencies, cash and digital money.
As mentioned it isn't that easy to get rid of cash. People were adopted to it, compared to the cash usage on the global scale cryptocurrency usage is very low. In future there might be some possibilities of it being get used by each and every people around the world knowing its importance. Same time such a growth doesn't assure of the decrease of cash usage.
I think I also trade crypto money, so for me, if I think about getting rid of cash, I don't believe it might work, so I think both are good currencies, cash and digital money.
I don't think any country is ready to get rid the cash completely, to get rid the cash the country's need to prepare the infrastructure and there will be need for the people to learn about the new process, it won't be so simple, and cashless doesn't mean they will embrace crypto
Well truly, the world of financial industry keeps on becoming into innovation that brings completely in a different level of modernization. Crypto currency have a high potential to make a better changes and a lot more interesting way of financial institution. I am looking forward how would our financial institution be look like in the future.
As of today, cryptocurrency is attracting more and more financial institutions blockchain asset developing and implements and adoption is happening in financial institutions and even they are developing the crypto product
Most big financial institution only adapting on blockchain technology but with old economic system. I think hard to change current economic system because banking bussiness is too big to replace and many interest involve in banking bussiness
yes i believe so as financial institutions will have to make so much adjuctment in moving into the crypto world. Though I don't believe fiat will be completely stopped, financial instituitons will have to rearrange things so they serve two purposes at same time which is doing both fiat and crypto transactions. Well lets watch closely as events unfolds.
As of today, cryptocurrency is attracting more and more financial institutions blockchain asset developing and implements and adoption is happening in financial institutions and even they are developing the crypto product
Maybe what he menans get ridding of is only the said countries on top. Since most counter parties like China N.korea are not into crypto currencies. Who knows maybe it can help ones country to grow even faster than the present if they use cyrpto for their trade and other businesses.
I say no it wont replace it completely i know alot of bank in New Zealand are closing down new zealand buy and sell crypto exchanges bank account to do business which make it a lot more harder as i know bank hates cryptocurrency. in saying that banks should embrace changes but i know they wont as they still want the monopoly over people money. this is hard to say at this stage as crypto are still new.
Well, that's a big question. But in my opinion, I think with time, these things are possible. Though it may take a while, but its a digital age now. And with the right infrastructure and management, cryptocurrwncy is the gateway to financial freedom. And will eventually change financial institution completely.
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