CBDC will replace fiat, not the ordinary stablecoins. Countries are not ready to use money they cant control
Yes. CBDC - Looks like the most viable option. Several countries have conducted clinical trials with CBDC such as Japan, Thailand, followed by Norway and Russia. Bitcoin is uncontrollable, the government knows it. They will, that will be a new way to erase fiat traces. In the next 5 to 10 years, the legacy of fiat inefficiencies and inefficiencies will gradually fade into people's psychology. That is innovation. 
Topic: Will stablecoins replace Fiat currencies in the future? - page 2. (Read 888 times)
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
I personally don't see that happening unless we have a central government and the government takes over the stable coin. What seems more likely to happen is that some countries may choose to have their own cryptocurrency which may replace the fiat or probably be used alongside with the fiat.
Yeah, it's most likely to be the scenario when the government decide to make their own cryptocurrency that can be fully controlled, I doubt any government would let some stablecoin replace fiat, worst case they might ban it if it gets out of control but if the stablecoin is coming from them it's basically the same as printing money but without really printing it.Many governments have already prepared CBDC anyway and it's just matter of time until those get released to the public, some might fail some might succeed it depends on the people as well, but i'd expect stablecoin to just remain as alternative or stay to be used only for trading and preserving value of our asset.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
I personally don't see that happening unless we have a central government and the government takes over the stable coin. What seems more likely to happen is that some countries may choose to have their own cryptocurrency which may replace the fiat or probably be used alongside with the fiat.
Exactly. So far, stablecoins are used by the minority while that's not the case with Fiat nowadays. Despite crypto's recent popularity, the vast majority of people haven't heard about or even used crypto/Blockchain tech in the first place. It's yet the day where merchants and businesses worldwide are struggling to accept crypto as payment method. The vast majority is with Fiat because of its stability and reliability. Stablecoins are as stable as Fiat, but they come with their own set of problems. As long as Fiat is easier to use than a stablecoin, I don't see stablecoins like USD Coin or Tether replacing traditional Fiat currencies anytime soon.
The minority that used cryptocurrencies will come across stable coins as well but you should not expect that people will use these stable currencies outside of the cryptocurrency space and majority in the cryptocurrency space also have trust issues with these companies that issues these stable currencies as they are not transparent with their financial assets. Do you trust these stable currencies to hold for the long term and if so what are the coins you trust as i would like to know.
Nonetheless, we cannot deny the fact that crypto is rising in popularity at a fast pace. Who knows if someday major retailers being accepting stablecoins as payment method? Even if this happens in the future, stablecoins won't replace Fiat because they're not backed by the government. That could change if governments back an specific stablecoin as a Fiat currency of their own. In the strange and bizarre world of crypto, anything can happen. Be prepared for the worse if governments decide to go rogue against the industry in the future. Just my thoughts 
There is no way major retailers will be accepting stable coins as payment method, either you need to pay extra for the transaction charges every time you purchase something and as a customer how long you will be willing to pay extra for a product. 
Stablecoins may replace fiat when 90% world population will be adopting cryptos; I guess that would take long time as so far less than 10% of people world wide aware of cryptocurrencies and its usage.
People were discussing like bitcoin will replace bank/gold like that but I never imagined a scenario where stablecoins to end the traditional banking system. Because, when we talk with respect to bitcoin, it seems possible as bitcoin got the power and innovation whereas for the satblecoin case, I feel like it is missing innovation and power. So, stablecoin to become a mainstream usage might take more time than we could estimate.
People were discussing like bitcoin will replace bank/gold like that but I never imagined a scenario where stablecoins to end the traditional banking system. Because, when we talk with respect to bitcoin, it seems possible as bitcoin got the power and innovation whereas for the satblecoin case, I feel like it is missing innovation and power. So, stablecoin to become a mainstream usage might take more time than we could estimate.
Exactly. So far, stablecoins are used by the minority while that's not the case with Fiat nowadays. Despite crypto's recent popularity, the vast majority of people haven't heard about or even used crypto/Blockchain tech in the first place. It's yet the day where merchants and businesses worldwide are struggling to accept crypto as payment method. The vast majority is with Fiat because of its stability and reliability. Stablecoins are as stable as Fiat, but they come with their own set of problems. As long as Fiat is easier to use than a stablecoin, I don't see stablecoins like USD Coin or Tether replacing traditional Fiat currencies anytime soon.
Nonetheless, we cannot deny the fact that crypto is rising in popularity at a fast pace. Who knows if someday major retailers being accepting stablecoins as payment method? Even if this happens in the future, stablecoins won't replace Fiat because they're not backed by the government. That could change if governments back an specific stablecoin as a Fiat currency of their own. In the strange and bizarre world of crypto, anything can happen. Be prepared for the worse if governments decide to go rogue against the industry in the future. Just my thoughts
I don't think this going to almost certainly occur. While numerous individuals are investing in stablecoins and discover them alluring, the administrations will be hesitant to part with all their force without any problem. We realize that the digitial USD and EUR are coming, so it appears to be almost certain that the national banks will push and advance their own monetary standards. Having full command over the money supply and having the option to print more money whenever they please is the way to monetary strategies in today's world.
Unfortunately there is nothing to do, bitcoin can be bought by anyone, in fact I would be surprised if governments have not accumulated bitcoin in secret for years, this is why despite the brilliant and advanced technology made by satoshi we still depend on the financial IQ of the average person, if they cannot understand why something like bitcoin that is scarce and that cannot be printed at will and in any amount desired by the governments is superior to fiat currencies then the future of bitcoin is not going to be as bright as we think it could be.
This! Absolutely, I am sure governments own Bitcoin as well. For almost any government a billion or even half a billion is nothing. Why not buy some of that chap junk and see what happens later on. I believe a lot of governments bought into Bitcoin long ago.
will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated.
I still believe that there is a big chance that we may see stablecoins created by governments that became corrupted like fiat, which will disturb the crypto market. How? Well if one government creates a stablecoin, backs it up with their nation treasure, then uses it to buy bitcoin, there is no end to it, how? They could use all the tax money to show they are good for it and sell stablecoins of their creation and buy bitcoin with it, most nations have 100+ billion dollars to do that, not ready to spend, but ready to show as proof they are holding it.This is why it is quite dangerous to let them buy bitcoin with it, they would be rich overnight while people would be holding worthless stablecoin that they hope to use in their nation but that's as bad as it gets, if this idea is used for evil, it could destroy all of crypto market and make things crash very quickly.
This! Absolutely, I am sure governments own Bitcoin as well. For almost any government a billion or even half a billion is nothing. Why not buy some of that chap junk and see what happens later on. I believe a lot of governments bought into Bitcoin long ago.
will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated.
I still believe that there is a big chance that we may see stablecoins created by governments that became corrupted like fiat, which will disturb the crypto market. How? Well if one government creates a stablecoin, backs it up with their nation treasure, then uses it to buy bitcoin, there is no end to it, how? They could use all the tax money to show they are good for it and sell stablecoins of their creation and buy bitcoin with it, most nations have 100+ billion dollars to do that, not ready to spend, but ready to show as proof they are holding it.This is why it is quite dangerous to let them buy bitcoin with it, they would be rich overnight while people would be holding worthless stablecoin that they hope to use in their nation but that's as bad as it gets, if this idea is used for evil, it could destroy all of crypto market and make things crash very quickly.
Stablecoins are crypto assets pegged to the value of Fiat, bringing people the "best of both worlds". The most popular stablecoins are often pegged to the US Dollar, since it's the world's reserve currency. Some of them comply with regulations, further legitimizing the industry as we speak. With all of the benefits stablecoins provide, Fiat's prominence could be threatened in the long run. After all, it's much faster and cheaper to use a stablecoin than a credit/debit card. People could stop using Fiat currencies like the US Dollar or the Euro in exchange for a stablecoin of their choice.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
The digitized currencies of the central banks of the states will soon appear in large quantities. They will only partially replace the common currencies of states and only to the extent that the governments of these states will allow. Although CBDCs will be much more efficient than conventional currencies, for a number of reasons, a full transition to their use will not be possible. In any case, this is not a task for the near future.This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
I think they will fully replace common fiat currencies as digital money allows the banks and governments to collect all kinds of data of those being forced to use the digital money. Digital money issued by central banks is a real threat to privacy.
Stablecoins are crypto assets pegged to the value of Fiat, bringing people the "best of both worlds". The most popular stablecoins are often pegged to the US Dollar, since it's the world's reserve currency. Some of them comply with regulations, further legitimizing the industry as we speak. With all of the benefits stablecoins provide, Fiat's prominence could be threatened in the long run. After all, it's much faster and cheaper to use a stablecoin than a credit/debit card. People could stop using Fiat currencies like the US Dollar or the Euro in exchange for a stablecoin of their choice.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
The digitized currencies of the central banks of the states will soon appear in large quantities. They will only partially replace the common currencies of states and only to the extent that the governments of these states will allow. Although CBDCs will be much more efficient than conventional currencies, for a number of reasons, a full transition to their use will not be possible. In any case, this is not a task for the near future. This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
Stablecoins are crypto assets pegged to the value of Fiat, bringing people the "best of both worlds". The most popular stablecoins are often pegged to the US Dollar, since it's the world's reserve currency. Some of them comply with regulations, further legitimizing the industry as we speak. With all of the benefits stablecoins provide, Fiat's prominence could be threatened in the long run. After all, it's much faster and cheaper to use a stablecoin than a credit/debit card. People could stop using Fiat currencies like the US Dollar or the Euro in exchange for a stablecoin of their choice.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
The possibility of governments adopting stable coins instead of releasing their own digital cryptocurrencies is zero, governments are never going to allow that a direct competitor to them uses their own currency against them, if anything I'm surprised that governments have not taken more direct steps again stable coins, after all we know that they cannot close down bitcoin because of its decentralized nature but the same is not true for stable coins which are centralized.This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
I am not sure I agree with this. They situation may arrive where governments have no chance but to embrace decentralized stable currencies. Keep in mind though that doing stable decentralized currencies at scale is not an easy thing to do. Even today it comes at a cost (providing collateral for DAI for example).
will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated.
I still believe that there is a big chance that we may see stablecoins created by governments that became corrupted like fiat, which will disturb the crypto market. How? Well if one government creates a stablecoin, backs it up with their nation treasure, then uses it to buy bitcoin, there is no end to it, how? They could use all the tax money to show they are good for it and sell stablecoins of their creation and buy bitcoin with it, most nations have 100+ billion dollars to do that, not ready to spend, but ready to show as proof they are holding it.This is why it is quite dangerous to let them buy bitcoin with it, they would be rich overnight while people would be holding worthless stablecoin that they hope to use in their nation but that's as bad as it gets, if this idea is used for evil, it could destroy all of crypto market and make things crash very quickly.
cryptocurrencies are here to stay and considering the volatility of the various coins on the market, a lot of industries and businesses are still skeptical about the adoption of crypto payments for their goods and services. However with the introduction of stable coins like BUSD USDT and the likes, the crypto can easily attain mainstream usage for evreyone.
This makes no sense given the fact that stablecoins are derived from fiat. If fiat was eliminated altogether, then stablecoins simply would not be backed by anything.
What you're talking about is probably a digital version of fiat, which already exists in various countries. CBDCs are not "backed" by fiat, they are fiat.
And yes, that future is probably imminent whether you like it or not. With a digitised version of fiat the government or central bank simply has way more control over monetary policy, interest rates, and transaction tracking for tax purposes. There are simply too many advantages associated with ridding cash (for the government, that is) for CBDCs to not be pushed by central banks across the world.
What you're talking about is probably a digital version of fiat, which already exists in various countries. CBDCs are not "backed" by fiat, they are fiat.
And yes, that future is probably imminent whether you like it or not. With a digitised version of fiat the government or central bank simply has way more control over monetary policy, interest rates, and transaction tracking for tax purposes. There are simply too many advantages associated with ridding cash (for the government, that is) for CBDCs to not be pushed by central banks across the world.
The solution to this issue depends entirely on the will of the governments. However, it is safe to say that private and other commercial stablecoins will not replace the common currencies of states. In the long term, when stablecoins of the central banks of states appear, other stablecoins may generally be banned by states from circulation. This just does not apply to decentralized stablecoins.
In general, the stablecoins of the central banks of states will partly systematically replace fiat currencies, but only to the extent that governments decide.
In general, the stablecoins of the central banks of states will partly systematically replace fiat currencies, but only to the extent that governments decide.
And when it comes to the government, they are slow in implementing this kind of change as they have long list of items to consider. But the likelihood to create their own stablecoin is always there as it will ease some activities in their operations. However, when it comes to their clients, it will take time for them to get oriented about the use of this digital currency. And not many people are open to such change.
Stablecoins are crypto assets pegged to the value of Fiat, bringing people the "best of both worlds". The most popular stablecoins are often pegged to the US Dollar, since it's the world's reserve currency. Some of them comply with regulations, further legitimizing the industry as we speak. With all of the benefits stablecoins provide, Fiat's prominence could be threatened in the long run. After all, it's much faster and cheaper to use a stablecoin than a credit/debit card. People could stop using Fiat currencies like the US Dollar or the Euro in exchange for a stablecoin of their choice.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
We may see countries with small economies adopt stablecoins based on popular cryptocurrencies blockchains but bigger countries are not going to put this much stress on there currency and if they wish to offer stablecoins, they will do with their own cryptocurrency. Nonetheless wrapped tokens may be used to boost the adoptions.
Stablecoins are crypto assets pegged to the value of Fiat, bringing people the "best of both worlds". The most popular stablecoins are often pegged to the US Dollar, since it's the world's reserve currency. Some of them comply with regulations, further legitimizing the industry as we speak. With all of the benefits stablecoins provide, Fiat's prominence could be threatened in the long run. After all, it's much faster and cheaper to use a stablecoin than a credit/debit card. People could stop using Fiat currencies like the US Dollar or the Euro in exchange for a stablecoin of their choice.
This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
The possibility of governments adopting stable coins instead of releasing their own digital cryptocurrencies is zero, governments are never going to allow that a direct competitor to them uses their own currency against them, if anything I'm surprised that governments have not taken more direct steps again stable coins, after all we know that they cannot close down bitcoin because of its decentralized nature but the same is not true for stable coins which are centralized. This makes me wonder, will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated. Thanks in advance.
The solution to this issue depends entirely on the will of the governments. However, it is safe to say that private and other commercial stablecoins will not replace the common currencies of states. In the long term, when stablecoins of the central banks of states appear, other stablecoins may generally be banned by states from circulation. This just does not apply to decentralized stablecoins.
In general, the stablecoins of the central banks of states will partly systematically replace fiat currencies, but only to the extent that governments decide.
In general, the stablecoins of the central banks of states will partly systematically replace fiat currencies, but only to the extent that governments decide.
Jump to: