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In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.

Source link here (https://beincrypto.com/digital-currencies-to-soar-in-coming-decade-predicts-deutsche-bank/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.

Earlier, Bloomberg predicts that Bitcoin will reach $10k soon (https://beincrypto.com/bloomberg-research-sees-bitcoin-back-to-10k-soon/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc). Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

This is a bit of a stretch. These are articles written by individual research analysts in Konzept, a magazine published by DB Research.

Regarding "inevitable," the opening editorial offers this warning:


Despite a lot of ifs, "The end of fiat money?" and "Cryptocurrencies: the 21st century cash" are good reads.
https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF

Fiat worlds is has been gearing towards the end for the last couple of years. There re reports over 90% of payment are electronic payments in Scandinavian countries. However, this is still mostly centralized credit cards and payment processors. BTC and crypto is just the next evolution of that.

We don't need to be exaggerated about cryptocurrencies regulation all over the world. Instead of hoping that it would fully replace fiat in the future, we should look forward on having cryptocurrency and fiat being in harmony so that things would work it well. We can say that cryptocurrency indeed is the future but fiat has been used for a long time ever since which means it would take up a long time before crypto finally adjust in the world standard. Let us support both always so that we can gain more convenience from it.

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

It is obvious that the whole world is changing and moving toward a major change in the way we do things including transactions and money, the fiat is losing it viability that is why governments are trying to find a solution some are thinking of cryptocurrency and a lot of people think that bitcoin is going to be used in that situation, but it is not, not because its is not good or people won't use it, its because governments won't be able to control it and they won't be able to monitor transactions, that is why they will be trying to create their own crypto and force people to use it.

I do agree with that. 10 years is quite short to have crypto in the mainstream market. Up until now, crypto users are still very low in number as compared to the global population. And considering that we already celebrated the 10th anniv of bitcoin. Though the adoption is growing fast, yet there are still remote areas that up until now are not influenced by advance technology, so how much more with crypto usage? Fiat would still be the main currency worlwide, ten years from now. Just my thoughts here.

Indeed, there are still a lot of people from rural areas who are not familiar with cryptocurrency. Some of them does not even know that a digital currency existed in this world and I think it will be difficult for them to understand it. It will take a long time before it can replace fiat and by just looking at it, a decade will never be enough particularly these days that there are some politicians who's against with bitcoin and any other digital currencies. Using cryptocurrency has a lot of advantages but replacing fiat with crypto can have a positive and negative impact on crypto itself. Well no one knows what will happen in the future, let's just wait and see.

I think it could not replace fiat. There is a main currency in each countries worldwide we all know that. It is more possible to happen if bitcoin will be accepted as on of the currency , like in US they recognize pound , sgd, yen and so on. Yes, in the near future digital currency will be the trend but I think countries will not agree if it will be replace by crypto or btc.

This has been already discussed so many times in here but the majority of those replies saying that it is impossible to replace the fiat into cryptocurrencies. The main reason I think that probably because of the decentralization system that crypto has. The government in all countries has its own currency and also has designated value on its currency. Think it over if we had all the same value of money, probably there is no currency trading happen. Nevertheless, it will probably happen if cryptocurrency is a second alternative digital currency and partnered with local fiat.

Behind all the credit cards and electronic payments, the base currency used is the fiat. The use of plastic cards (Credit /Debit cards) are not actually replacing fiat but are facilitating the fiat currencies.
Bitcoin, on the other hand is pure digital currency which is not backed by paper money. It will take some time before we see pure elimination of fiat currencies.

10 years would not be enough to fully replace the use of fiat currency but let us be realistic here. If we are going to jump into a digital currency as means of trading in our daily living that would not be bitcoin, government won't let that happen coz we cannot live freely as the government says and they should continue too.


Well that is just their opinion. Prediction is just an opinion based on what a person can see in the present. Yup there are still people who is in favor of bitcoin but don't label them as ignorant, maybe they are just satisfied with what's on their front and don't wann give a shot with cryptocurrency even if it has a lot of help.

Now the volume of turnover of electronic money is growing, which are the same national currencies of states. Cash turnover will decrease over time, but it will not disappear at all. In general, national money in the form of electronic and cash will exist as long as the state exists. National money of states is an invariable attribute of the existence of each state. Without them, the economy of states will fall apart.
States will continue to actively use stable coins, which will represent all the same digitized currency of the states.
A decentralized cryptocurrency will simply occupy its niche as another type of many means of payment. It will not have a dominant role among other means of payment. A decentralized cryptocurrency can go in society only along with the national money of states. Everything else is just pure fantasy.

So in my opinion, and from the point of view of one of the most developed countries in Europe, Sweden, electronic payment changes primary money, which can only be good for the world, and that Sweden will throw out its coin.
And the crypto world and Bitcoin are in my opinion irreplaceable, they are simply the best payment method and most importantly in the long run.
I think as long as there is a world, there will be bitcoins

I'm sure fully digitalised fiat currencies will exist in some countries.

As long as large amounts of people exist so will countries and governments and so will tax. They will charge in a currency they control and also pay out in it. In many a place well over 50% of people are employed by the government and others will be on some form of welfare so that's an extremely large captive market that'll never go away.

That means real crypto remains a sideline albeit an ever growing one.

Predictions are not a real future. Yes, Bitcoin is a very promising digital asset that can change the financial sector and economy. However, the adoption depends on the governments, but i dont see that governments wanna accept digital currency and replace fiat money. Accepting goes very very slow

To see a world where paper currency is fully replaced in a decade's time is impossible, you might see that in the developed countries but you have to take into consideration the poorer nations and how on earth do you think that will happen on a global scale, it is an impossible dream to imagine that the entire world will transact digitally and it is not going to happen in a century. The bitcoin market is just ten years old and it will take more than a couple of decades to reach everyone let alone dreaming of having a world dominated by digital currency.

One more thing, becoming digital and becoming crypto based are entirely different view of point and it is an entirely different topic altogether.

I agree with others that replacement within a decade is highly unlikely. Some countries might experiment with digital currencies, adopting the existing ones one way or another or making their own national currencies. But come one, the scalability problem is not only related to Bitcoin, but it's also pretty much a flaw of any blockchain. Until this problem is tackled, I don't think cryptos can change world economics. We have to wait and see how it goes, and someone has to offer easy-to-use solutions so that people can go to grocery stores and buy food with crypto without doing anything more difficult than what they do nowadays.

Just because it's coming from a bank does not guarantee that something like this will happen in the future.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.

But digital currencies replacing fiat doesn't altogether mean that bitcoin or any other crypto will be replacing the fiat currencies. Maybe in the coming years the central banks of the world can make an alliance and then they will form a digital currency for the world and that would become what US Dollar is as of today and if this happens then it will surely be the end of fiat currencies as we know it.

Nope, i don't think so...digital currencies would definitely be the main stream of making payments but it will not be with bitcoin. In as much as we are all enthusiasts of the adoption of bitcoin we must face the reality of bitcoin not being ideal as a mode of payment looking at its transaction speed. The entire world can't operate with this folks, that's the truth.

Replacing fiat with digital currencies would not actually be into existence. Each of those currencies have their own importance. Cryptocurrencies can't perform the activities which are carried forward by fiat currencies so they can hardly overtake fiat over cryptos.
Fiat currencies are been managed by the centralized governments, and none of the government from any country would allow the digital currencies to overtake their centralized fiat currencies. Digital currencies are hard to keep a track upon and it might never allow the governments to impact taxation on the individuals holding or earning the cryptos so it might not be possible to replace fiat with digital currencies. They both might work constantly.

The bankster criminals have financed and promoted 100+ years of near constant war.
This is destruction of life, the planet and valuable resources. Virtually making the planet unihabitable.

You really want the future world crypto currency to work hand in hand with these crooked banksters?

Think again,
Bitcoin doesn't need permission from these crooks.
Bitcoin doesn't want permission from this destructive global corruption.

Bitcoin is rewritting the paradigm of human culture to being friendly to life on this planet.

The last 100 years of fiat currency corrption have not been friendly to mother earth.

Deutsche bank is doing research! My oh my  ::)

I hope you don't put too much trust in them because this is the bank that will lead the next financial crisis.

Deutsche bank stocks used to be worth 30 EUR 4 years ago and now are worth 6 EUR, scoring losses every single year. At least they have some good ideas like this attempt to try cryptocurrencies because without some risky investments they will be gone in the next 3 years.

I am sure that in the next decade fiat cannot be replaced by bitcoin and digital currency, because people in this world are  still use fiat
more for conducting financial transactions. Moreover, the government is still not fully legalized cryptocurrency. If it is true that bitcoin
and digital currency will replace fiat, it should take even longer, it can't achieved only in a decade. That is too short a time in my opinion,
and the government is not ready to accept decentralization which is contrary to the principle of centralization adopted by fiat. More realistic
if in the next decade bitcoin and digital currency is the focus of adoption in the lives of the people all over the world. Because the number
using bitcoin and digital currency is still small compared throughout the people all over the world.

Some countries are already 80-90% cashless, but no countries is nowhere near replacing fiat - in fact there's probably barely a few people in this world who live 100% on crypto without ever touching fiat. There's no way it will dramatically change in the next decade, so this is just another sensationalist and misleading article. Bitcoin community was talking about fully replacing fiat for many years, but the actual progress is incredibly slow.

This is highly unlikely to happen, at least on the next decade. It might take at least few more decades before we completely replace fiat. Though I doubt that crypto currencies will completely replace fiat, but I am pretty much sure they will be used side by side in harmony with crypto currencies becoming the mainstream.
Crypto currencies, especially bitcoin won't be able to replace fiat. Lets be honest here, bitcoin does have a lot of flaws when it comes to using it as a mainstream currency for daily transaction. Do you really think the network will be able to handle millions of transaction with minimum fee easily when everyone uses it?

Cryptocurrencies might be used as a mode of payment since our technology is advanced but it doesn't mean that we will be replacing fiat. Fiat will always play a vital role in our society and despite the existence of blockchain technology, I believe that people and the government will always prefer to use it in important transactions.

I believe its really going there. But the replacement of fiat I guess is a longer process. Bitcoin will definitely grow and if not a replacement soon for fiat but an additional option for currencies. Adoption of crypto currencies is very crutial and expensive somehow as there are still many rural areas who even not had an electricity.

It is a long process where a decade is not enough to make it happen.
It will surely to happen, even if bitcoin won't make it to replace fiat, at least it can help us to become an alternative option for us to use it to make transactions.

talking about decades, actually has started from the process every year before, the process is always continuous to reach the point of trust, development, and accountability. Btc is unlikely to be in harmony with fiat as a currency, there must be a solution to at least control every fluctuation in prices to be slower. The network will not be able to handle everything in a short amount of time, but will always experience a system improvement test in every consensus.

I am predicting that eventually digital currencies can be replacing the paper money but not totally wiping it out. This is just similar to the radio and TV story. When TV came, people thought that radio can be dead and be totally replaced but what happened is that both are now co-existing though there is no question that TV is getting the most views or the bigger audience share. Now, when I said digital currencies that certainly include the ones to be introduced by many central banks and this can be the reason why paper money will slowly decrease its use and circulation. Soon, we might be seeing this in China when the government in there will be launching its state-controlled and sponsored cryptocurrency. Sadly, this is not because of the real cryptocurrencies we now have all because admittedly massive adoption for this industry is getting harder each day and in my view it can be taking decades before we can convince majority of our people to make the big switch. Still, I am hoping that am wrong, anyway.

Digital currencies will not replace states' cash even in the distant future. With the advent of stable coins of various states, the use of cash may decrease slightly, but the need for cash will still be large, especially in rural areas. It is also worth considering that many people generally refuse to use digital currency in any form for various reasons and no one will force them to do this. If the number of barter transactions increases, the state’s economy will fall and the state will be forced to have cash at the same time.

no one knows the future, it's likely that all countries will accept bitcoin in the future, or they will be left behind, when developed countries use a new technology, other countries will follow it, some countries have thought about blockchain technology, only a matter of time.

To be honest, it's too difficult to say about this thing, To get replaced fiat, you have to create a lot of authentic platforms which might be acceptable to the mass people, I am not going to discuss about the research authenticity, I just want to say about the mass adoption, Bitcoin and Cryptocurrency are not controllable so the price is also like this, And in this way, people are getting afraid of using Bitcoin as well as cryptocurrency anymore, It's a harsh realistic issue for cryptocurrency. so unless the stability of the price of the cryptocurrency, no one says about the bright future of Bitcoin along with Cryptocurrency.

Read the report itself my friend. This is just what they are calling a decade ahead kind of prediction. And they note that right in the beginning, all the predictions did not happen as they thought. For example when fiat came out they thought gold would lose value by 1980. It has gone up and up since then. They also thought internet and remote work means everyone works remote, no more physical offices.

So yeah, they probably expect 10 years fiat replaced by crypto also won't really happen.

im not sure, but it can be happen. who know?
when some country experiencing a slump in economic, in their fiat, they will do like extraxt the value, and the price off stuff will following it rule. but i dont know if they often experiencing deterioration of financial problems, maybe they use crypto silently.

If it is true that cryptocurrency will replace FIAT completely, then banking will no longer be useful in the future.
According to my logic, banks will make their own digital currencies as bitcoin competitors, because they need centralized digital money to keep the banks in existence.

I always will not, and I will stick to that.

We all know that these cryptocurrencies are a great thing in the future since we would be able to transact money anonymously and the government will not be able to track us but the thing here is that they are also the ones that will make the decision hence ending up in my opinion that it will not happen since they will not allow it. They may be able to create their own cryptocurrencies since we are going to that but I don't think it will fully replace fiat and I don't think that banks will be useless in that time too.

Overcoming government hurdles is a big if. Why would the government allow crypto instead of creating their own digital currency?

Contrary to the writer, I would be very surprised in there's a new crypto substitutes Bitcoin as the mainstream cryptocurrency. I don't see any scenario where this could happen.

Ok gotta be honest: my opinion.

It's time to stop suggesting this is going to happen.  If you consider the history of the world, its not going to just "convert" to bitcoin especially since there has been so many problems with it.  USD/JPY/EUR will not just disappear and become "less popular" than bitcoin.  That would literally create armageddon.  The whole world will never all be able to use bitcoin exclusively and suggesting this anymore is ridiculous.

Not trying to flame anyone here but this topic needs to no longer be posted in my opinion.  It's like reading a fairy tale.

this is like suggesting the world needs to convert their dollars to elon musk bucks or brookshire hathaway tokens because their stock did well one time.
You're not sane if you think something like this is going to happen anytime soon or maybe even ever at all.  The world wasn't built on bitcoin for 2000 years.

This is all we wanted to happen because being Cryptonians we are looking for the most effective and reliant in terms of payment system.

but the problem reality,that world will never live with technology itself just like gold that will remain as physical asset,Fiat will always stay the same.Yeah in the future Cryptocurrencies will be our main currency but also fiat maybe use in some offline dealings.

I am also optimistic that in the next few decades cryptocurrency will become popular, cryptocurrencies only need a triger so adoption can be carried out in all circles and hype around the world. At present the government is still ashamed to admit that cryptocurrencies are superior to fiat but I am sure many have researched the transition in the long run.

i am with you op  .predictions are just prediction and they are not absolutely true but i love the fact that they predict something good because they predict that cryptos will will overcome fiats  .

 im not really into fiat honestly thats why i said those things above but i feel sad for the people that didnt know how to use a crypto because they are the ones that will struggle when this prediction finally occured but i forgot that its only a prediction anyway haha  .

Wrong,  cryptocurrencies will not be our main currency.  The currency that built this planet for over 2000 years will remain intact because that's what business use and that's most likely what they will always use.  The closest things will get is if the world "deletes" paper money.  It will still be in USD, Yen, or euros though etc.  

Basically, predictions are also be known to be manipulative because predictions made by people who has a great influence to the public could possibly control the outcome of the market through the people to change their mind, whether to buy or accumulate and to sell their cryptocurrency which could impact the universal market price of it. Going back to the topic we have, predicting cryptocurrencies to replace fiat for me would not be completely possible, but we could make fiats to be cryptocurrencies, based on my understanding, fiats are government regulated money, and people's money needs to be regulated for the government to have their plans to be successful. Cryptos could be regulated if they want and could be somehow called, an entity that replaced fiats.

It takes time and a lot of development, acceptance, awareness for this to happen and a decade is not enough to make it happen. And I think the technology era needs to come first, which is currently in progress before the digital era can take place.

Because this is the awareness of people using basic things like smart phones and personal computers. Because this will serve as our wallet in the digital era.

I doubt fiat would get fully replaced in the next 10 years, it's likely to be more than that. We could see more people using digital currencies over time but replacing something that the majority uses takes more time. Others are moving to different payment options but still a lot of people uses cash as there's still a couple of upsides to it.

In the future people who have troubles with cryptocurrencies could easily adapt as new digital currencies quickly pops up and maybe there would be one that caters to people who've been using fiat.

In a few decades, I am sure that the adoption of crypto will continue to rise. Of course, it also requires support for each individual (crypto user) to spread crypto to the world. We can start by introducing crypto to the people closest to us, then try to build connections and start making something bigger like a seminar on crypto or events about crypto. Of course it takes sacrifice in the form of money and energy. But hard work will not betray the results.

I am positive about such thing.

It might happen eve sooner than next decade as things are getting closer to a state where everyone will think on using it as mainly fiat currency.

As long governments think it's the best to legalize it and not ban it away we will probabily be fine and more countries will start adopting it.

If it were to say that digital currencies could replace fiat currencies, it probably wouldn't have been possible. Because national currencies are very stable and have a strong circulation of countries. But this is also a very new thing for digital currencies when applied in many countries around the world

yes, of course, cryptocurrency will be the main payment flow for people around the world when changes in the world will use everything with blockchain technology and this will certainly make it easier for us to make transactions whenever we want, and but I don't think we can say that the Fiat currency will die or end when it all happens because I'm sure some people still need fiat currency to give to their children to buy snacks.

I think governments of any country wouldn't like that any imaginary currency become a barrier between the growth of their legal tender and their economy that's why some countries are trying to develope the sources which could be helpful for them to take control on cryptocurrencies maybe this attempt won't be successful but some governments are trying to stop cryptocurrency revolution which is impossible I guess.

To my opinion cryptocurrencies will never replace fiat. They will develope further and they will become more equal to fiat currencies but they will not replace them.
Due to its characteristics cryptocurrencies are volatile and unstable and world economies can't rely on them. Also, very small number of people is.using cryptocurrencies and due to lack of knowledge and internet connectivity they are not available to them. So, let's be realistic.

The cryptocurrency never replaces Fiat. Fiat is very important in life and it has existed for a long time, and Fiat represents the economic development of each country.

I doubt if that will happen. What's more likely is fiat and crypto existing alongside each other in complete harmony.

I share your opinion with mine. In my opinion, I don’t really think that cryptocurrencies exist just to bring downfall of fiat system but rather I see it as a new monetary system that would go hand in hand with fiat in order to offer more choices and conveniences towards the people. “Fully replacing the fiat” is quiet a bold statement to make and these predictions are quiet wild in some way where they are looking far into the future with no current circumstances backing and I would classify this as a fiction for now.

Most likely, bitcoin will completely replace fiat, after passing ten years. By this period, Bitcoin must confront the state system and become a leader compared to gold. The emphasis should be on Bitcoin to get ahead of gold as soon as possible.

Exactly. Besides, I think there are some places in this world that are not ready yet for this kind monetary system, especially in the third world countries. Also, it needs to be legalize first across the world which seems impossible for now. Just like what others say Bitcoin and other cryptocurrencies cannot replace fiat but rather could become an alternative monetary system. Moreover, I think Cryptocurrencies does not fit to become a common currency due to the fact that it is too volatile.

Well, if we are to look at the truth, there are so many countries belonging from third world countries that are really open for adoption of cryptocurrency. And we could not disregard the fact that there is a chance that these third world county might be the leading adopters of crypto, one main example of it is the presence of many indonesians and Filipinos here, which puts light to make their economy better with cryptocurrency.

If, in the next few years, the cryptocurrency market is stable, many countries accept payment in cryptocurrencies, then Bitcoin and other digital currencies can completely replace fiat. But the future is unpredictable, it may or may not happen. And what do you think about this?

And you think governments will allow this happen. The place where I live, i can hardly buy anything with cryptic and there are many countries in the world where crypto is no where to be seen. Just because it's a cool new innovation doesn't mean it can replace fiat. First let's see can we buy something with bitcoin in real life or not. A cup of coffee price in bitcoin is way less then its transaction fee and settlement time is too high.

Traditional paper money was already existing for a long long time and I don't believe that 10 years is enough to make fiat vanish just easily. In that 10 years, the possibility of cryptocurrency growing and adoption is big but fully replacing fiat isn't easy to achieve. It's hard to predict what will happen after a decade. And actually in reality, a decade isn't enough for third world countries to make that big changes

this topic isnt new and been discuss many times before  but all i can say is that cryptos cant fully replace fiat but partially replace it maybe  because crypto were also useful and have double purpose than compare to fiat alone    .

still a nice prediction though if big people wants this to happen because we know that they are also into cryptos and will gladly support cryptos until the future comes  .

Third world countries will follow the policies of developed countries if it happens simultaneously, it will still take time but in the end they will be able to adapt. effectiveness will still lead to a new era of digital money even though it will still be wrapped in fiat system, this is where people will start their new steps to use bitcoin as an alternative without having to replace fiat, but the government also cannot deny regulation if the use of bitcoin is far more transparent geo-politically in the coming decades.

and everything will start after the halving next year,since we are now growing and growing and the community will be multiplied specially when the price booms again more than what we have in 2017.

and yes another decade will be enough to reach our goal to finally overtake fiat and Crypto becomes the primary currency.

Let us see what will happen in the next year if what will gonna happen to the movement of the price of Bitcoin in halving. How people will add demand to this upcoming halving. I think we need 1-2 more decades before we'll finally have full adoption in the Bitcoin, it really needs more time and marketing before it will finally adopt in the world.

A decade is a long time and there could be a lot of things and changes that can occur. We might be slowly switching from fiat to cashless society. But as of now, fiat is still useful since crypto usage as a mode of payment or alternative is limited and it is not fully adapted yet. It might take sometime before we fully adapt crypto and use it in a daily basis.

I'm more positive into this. A decade could look short, but recent innovations have been exponential in nature. And the need for paper money and coins are getting obsolete, with digital means already being used and sometimes even replace paper money completely.

It is also worth noting that paper money and fiat is different terms. Paper money is the physical representation, fiat is the currency itself and could exist digitally or physically.

Also, Bitcoin is not the only potential replacement for fiat. It could be Ethereum, or other still unknown cryptocurrency, or government-backed cryptos. Nobody knows for sure.

I don't think this is gonna be the best idea. We all know that we both need digital currency and the physical money. We do not have internet always with us every time we pay our bills that is why we will be needing physical money to be able to pay those items that we want. The combination of two will be surely gonna be good to the economy of the country.

Although I agree if a decade or more in a few decades if Bitcoin or cryptocurrency really replaces fiat currencies completely, it doesn't seem as easy as that.
because each country has a fiat currency as a symbol of their country and various other reasons that will not be easily replaced completely, even though bitcoin or cryptocurrency is better than fiat currency, it seems that both will run together and complement each other as a means of payment.

No.
I think it should be more like a century for something like that to happen , one should understand that , Fiat is very important and one cannot just eleminate all the poor people without mobile and the internet , the world isn't that developed till now , therefore one should understand that Fiat is very essential , let's not take everything away .. I like going on a trip without the internet and all and trust me on the top of the mountains , you don't have cards , all you have is some change and a hot cup of tea .

It might not. Because even if it seems like that, many people of the world still don't have access to proper gadgets to use such digital currencies let alone education to learn about them and how to use them and for that time fiat will still be dominant and primary and "real" money.

Chances are really low, yes one reason is that the technology hasn't reached yet the rural sides of some other countries. One more thing is, individual people still prefer to have their real money which is tangible. Bitcoin has more chance only to become an alternative option to make transactions.

That may look too long and its possible just have patience but let’s not expect that to totally happen because fiat money is still a fiat money that is being run by the government to control its people. Bitcoin will grow more and I think fiat money will also grow and become more cashless as well, technology will help the old system to grow.

there are still large portion of the world that are yet to know digital currency let alone use it. digital currency need to go wider to gain better acceptance. ofcourse in the next decade didgital currency have a potential of dominating the world currency. fiat is still preferred now because it is uninterruptibly generally acceptable.

Private digital currency might take over the Fiat currency in the next decade. For that everyone needs to be digitally connected and digitally literate enough so that they can access their wallets and could trade in a safe environment. I doubt all these governments will allow any decentralized currency to thrive as it can be a threat to their existing monetary system.

Btc can have a future only if we as a community can support it strongly.

Clearly it will not, the cryptocurrency doesn't have what it needs to replace fiat currency, trusted by everyone due to the biggest flaw, manipulation. The crypto world still in the early phase of development and will take more than a decade to become a stable market. The government may issue their own digital currency using blockchain technology.

Without doubt, Cryptocurrency is going to dominate fiat and all these gift cards. Any wise government will have to open a research on it. I love what the French is doing by teaching this in school. Developing nations will see no wisdom in all these until they are left behind.

No, it will not until crypto free from manipulation, without whales we'll have a more stable market, but how long it takes to get there? The government research about digital currency to create their own, but it still another form of fiat currency, it needs to be stable but on the other side, cryptocurrency is a volatile market, see the difference.

As much as I want this to happen,its not that easy,there is a lot of hate and detest for bitcoin especially from the governments, because of its decentralized nature,so its gonna be hard to have it fully replace fiat

However, predictions that are likely to become rumors will provide a good path, just follow the plot because cryptocurrency is full of the unthinkable. In general, although bitcoin price movements are getting better, more and more are being adopted, but I think it will be difficult if it replaces fiat completely. Bitcoin and fiat will complement each other. not replace each other.

This question has been circling around the forum for a while now. To understand first on whether bitcoin can fully replace fiat, we must consider several circumstances affecting this change to all countries.

First, the fiat system has been around for ages and it is considered as the main medium of exchange. Before, the barter system was implemented but it slowly transgress to paper money in order to have a standard unit of exchange. The value of such currency per country also depends on its economic condition, gold reserves, etc.

Second, due to the present economic differences among developed, developing and underdeveloped countries, the first two can quickly adapt to this kind of change since they have the necessary technology to transition to a digitalized form of payment. On the other hand, underdeveloped countries who lack the necessary technology and advancements will be left behind from this change. This would technically further weaken their state, thus hampering the growth.

Lastly in order to implement a digitalized form of payment whether via BTC or a digital currency, all or at least majority of the countries must concur with this change. If some countries change their fiat system while others do not, this will create a conflict on which currency should be followed.

In spite of everything, I also believe that this change will be inevitable in the far future where technology will run the world and dictate our future. But for the time being, I cannot see bitcoin or a digitalized currency replacing FULLY the fiat system.

I herd this story too many times but I will try to explain again. The current monetary financial system is old yes but its working and there is no need for cryptos to "fully" replace fiat and instead in trying to help them by adoption Blockchain technology this is why coins like Ripple appeared after some years of Bitcoin launch. This would be the best scenario of cryptocurrencies to be integrated alongside fiat and making Bitcoin a global payment.

The 2nd scenario would be the full replacement of fiat by cryptos but this will take more than a decade and its kinda hard to imagine regular people paying everything and live from and by cryptos so a decade its not enough.

The 3rd scenario we all know it. Crypto fail and everything is back to normal. ( won't happen )

It's not that easy, most of the world population haven't even heard about cryptocurrencies, adoption is later thing.

even if they do?still we can assure that fiat will be Gone because only this generation supports the digital currency but not those generation before this.

like those small businessman that knows only the usage of Fiat?and know nothing about crypto?and even if they know they dont want to use it?
i think we will take at least two decades or more before finally Fiat will be out of the system,but this is still speculation nothing is certain.

I'm an optimist, but I doubt it very much. Bitcoin (like other cryptocurrencies) is not ready for this yet. There are no prerequisites and conditions for this to happen.
In my opinion, we should expect this in the next 5 or even 10 years.
I believe that bitcoin is the currency of the future, but so far we are only striving for this.

Fiat does not need to be replaced. There are countries which totally depend on the fiat currencies for their development and economical situations. These countries complete to form a globe. We can't ruin the financial systems of the entire globe just to boost the use of cryptocurrencies. It would actually be a lot mean. We need to start integrating with fiat in order to create a custom balance and keep the monetary situations in hand.

We never want our countries to struggle with finance only because a number of people avoided paying taxes with their cryptos and now the countries are left with no money to develop the nations anymore. This situation might lead for a global cause and we could see the economic conditions drastically humbling.

Bitcoin and some other coins will replace fiat but not completely eradicate fiat, if that's what you meant its never going to work, people can embrace crypto more than fiat, that's what we are ever going to see, Fiat will always be amongst us

If we will have internet available everywhere, we will see traditional fiat (notes and coins) to disappear for the sake of state issued stable coins equal in value to the national currency. Because anyway, banknotes as such had come into being as a promise, that you can exchange the note for a specific amount of gold. It can be totally same with digital state coins - as a promise that you could exchange them to physical banknotes, and then making them on the same reputation of the state as a modern currency

We as Cryptonians will surely agreed on this and the fact that we are waiting for this to happen means a lot for all of us,but also in the back of it we also knew that this is impossible for now to happen because we don't even recognized by the whole world so how come that we can expect this to happen soon?
no i doubt we will be seeing this in the next decade 2030 happening.

that is what i wan't to impose mate,eradicating Fiat is not going to happen because world will always have two sides and that is Pro fiat and anti fiat,it is just happen that we love crypto already but those people that has another side?nope this will not happening completely.

You know, people keep talking about Bitcoin death and Bitcoin obituaries, and yet they don't learn the lessons. Fiat's actually had its naysayers for a while too. And they're not the only ones. Can you imagine gold getting obituaries in 1970s when national fiat all came strutting along with their central banks declaring people wouldn't be buying gold and it'll be obsolete in a decade? Well we're 50 years gone and gold's stronger than ever. Think fiat will take much longer than 10 years to die, if it does.

I agree that the next century will be the time for cryptocurrencies, but I do not think it will totally and fully replace FIAT. The governments continue to exists, so they will not want to give up their power and they may come up with the crypto version of their crappy FIAT.
Cash money is almost out of use in countries like China anyways, and everyone else tend to use digital money based on fiat. Blockchain based cryptocurrency will have its own use, but as long as some people would like to have the monopoly of money to themselves, the government printed money, digital or paper, will live on.

Today I went to the post office where they do not accept plastic cards, and here we are talking about digital currencies and the complete replacement of all paper money.
Without a worldwide Wi-Fi accessible to everyone, this is utopia or close.

The numbers you say are quite in line with what I've read on this forum, the popularity of bitcoin is still at a low level, global coverage may take a long time to be able to gain, maybe even never when a wall that a special government erects cannot be easily overcome, a few apply to life is possible but I do not appreciate. This means that I am not too confident in fiat replacement for the next decade, Fiat is still used as a close friend in payment methods from near to far, bitcoin and crypto can create the same thing but it takes more time and always risks in value, can't compete with Fiat in the world market

I can say that we are in the digital era right now but for crypto to replace fiat in the next decade? It is close to impossible for me.

How many years did it take for the fiat currency to be used worldwide? It took long time before it happen and for crypto to do the same thing, it will take time too. How can the people in remote areas use Bitcoin if they don't have any access to internet. If there will be a way for the people to use crypto without using the internet then it would be the first step for BTC and crypto to fully replace fiat.

For me, I can say that BTC will be use as an alternative way of buying things in the internet but not to replace the fiat in the span of one decade or even one century.

One of the fastest-growing transaction today is with the use of cryptocurrency or commonly by the use of currency of bitcoin many people now are using this coin to make payment. There are a lot of countries now are accepting the method of bitcoin payment because we all know that it is more efficient and faster; there is no hassle for having a queue. Just sending the wallet address and also the transaction is just for only two people no one can make some interruption. Still, there are some people and country does not want to accept the use of cryptocurrency or bitcoin as payment because they want to make sure that all of the transaction is recorded by the country to monitor that the transaction is safe and also to avoid phishing, hacking and scamming. In the future, there is a big chance that bitcoin is one of the priority payment methods of the people. Still, I think there is a small chance that the bitcoin will replace the payment of fiat because there is a rule that every country must need to have a fiat currency to contribute into the world trades. One of the innovations of the other country today is the cashless and they make all the transactions use by their phones and just tapping on the scanner with the use of magnetic cards supported by the fiat and the bank.

I appreciate your anxiety but with the incredibly rapid spread of information in this era, I think in the next decade, 90% of the world's population will know what crypto and digital currencies are.  the world needs a fast, safe and efficient way of dealing, Fiat money must already be replaced.

This is exactly what the point is. Fiat can never replace the digital coins which could not even circulate without internet. If we ever think to move onto cryptocurrency payments for our day-to-day transactions would mean that we would entirely depend on the Internet.

In times where internet would not be available, we would completely ruin the financial situations and would not even be able to send someone any money. This is why there is fiat currencies dominating the traditional means of payment since ages. Even in the ancient times, rock money was been used which made people financially secure. Fiat money is a need of the society but cryptocurrencies are a extra source of income for the society and let's treat it that way.

Digital currency will indeed develop very rapidly in the next decade. However, there is a difference between digital currency and cryptocurrency. Digital currency primarily refers to stable coins of various states, that is, their digitized national money, which have very little resemblance to cryptocurrency. However, even if all states issue their national stable digital currencies, the need for regular currency will still remain, since cash can always be used even in cases where new digital technologies cannot be used. We should not rush to get rid of cash, they are less monitored by governments, even compared to cryptocurrency. In any case, cash will still exist for many decades.

The use case is growing everyday. I read recently that blockchain technology implementation has been a global phenomenon now with the growth increasing every day. If this continue, probably digital currency might be given a good look and most importantly, we may soon see banks accepting cryptocurrency which to me might lead to regulation with tight centralization and this is what most crypto enthusiasts does not want.  All the same, such news going a long way to tell us to keep our head straight and keep trusting in crypto because something great will happen one day.

Hello everybody. Of course, anything could happen by 2030. But in order for the transition to cryptocurrencies to take place completely, it seems to me to be too much. Even by the next century, this is unlikely to happen. Cryptocurrencies do not bypass the Internet and uninterrupted power supply. When humanity solves this problem, by that time, most likely, they will come up with some other kind of financial structure. The most important problems at all times brought precisely the unbalanced attitude of mankind to any events or innovations. A gradual, balanced approach is needed.  Fiat money will never disappear, with a competent combination with cryptocurrency, the best financial times of humanity will come. Of course, the advent of a new approach to financial matters has already matured, because humanity is already mired in financial crises in which the poor get poorer and the rich get richer. The first countries to take cryptocurrency as a base will make a huge leap in finance. But that would completely replace fiat with a crypto, - no, this is too much.

As history tells us that new technology replaces the old. So in my opinion Bitcoin is inevitable but it will take some time until it is fully adopted. The old monetary system must be completely destroyed before Cryptocurrency can be recognize as new form of money. A global event must trigger the end of fiat like a pandemic or financial crisis.

As much as bitcoins are making such progress in the past years and so many reports have said that many people already rely on technology to pay for their goods, I don’t think bitcoins will “fully” replace fiat. For one, not many countries in the world are equipped in terms of advancement in technology. Third world countries for example, although the majority of them  have touch screen phones, they are only able to use it for simple communication and little bit of entertainment. Even if these countries have access to touch screen phones, not all of them have it because their priority is to be able to get by everyday. Sometimes, having a touch screen phone is the least of their problems. Second, third world countries are more comfortable with using fiat as many of their transactions involve stores that don’t even cater to online payments. Stores along the streets, mini grocery stores, public transportation, etc. etc.

I agree with the first part, but not with the second. It is quite possible that the new technology may replace the old as far as the monetary system is concerned. But the replacement can only occur, if both the technologies have similarities and overlapping usage. Here, Bitcoin won't be able to replace fiat currency, because it is no longer used as a currency. It is mostly used for speculative investment purposes and using it as a payment medium is not very attractive because of the huge fees and delays in getting confirmation.

Exactly, mate. Bitcoin is a great form of digital currency but despite all the awesome benefits it brought us, it is still impossible for Bitcoins to replace fiat or the traditional physical currency that we used to spend. This research and prediction is so unfair to those non-users of Bitcoins and those people who doesn't any have access in the internet and absolutely not a tech savvy. There are a lot of things to consider before Bitcoins can replace fiat and Bitcoins need a lot of things to prove and show us before it became the mainstream currency in the world.

In next decade crypto will totally replace Fiat? Definitely not

Still there are tons of works to do for crypto so that masses of people start using them as one of the payment methods when they're buying stuff online or offline, cryptocurrencies should start being more newbie friendly for instance and be easier to use even for less educated crowd.

If just right now all governments started to educate people on crypto and added some basic crypto information to their schooling system, then we could consider the possibility of removing Fiat in next 10, but we all know well that's not going to happens because it's not in governments benefit to promote using crypto, since it will make it harder for t hem to track people and earn profit that they have from banks.

I think almost cryptocurrencies direction all over the world. Rather than trusting that it would completely supplant fiat within the future, we ought to look forward on having cryptocurrency and fiat being in concordance so that things would work it well. Ready to say that cryptocurrency without a doubt is long haul but fiat has been utilized for a long time ever since which suggests it would take up a long time some time recently crypto at long last alter within the world standard. Let us bolster both continuously so that able to pick up more comfort from it.

The mobile banking had been around for years which mobile crypto wallets are also going to be utilised by cryptocurrencies. Its true that crypto has to coexist with fiat but right now its got to be digital fiat since we are all going to be cashless.