The global transition to crypto. What timeframe do you give it?

[aussiesloth]

Within the next 5-10 years, I see crypto becoming the mainstream form of payment systems for most goods and services.

National fiat currencies, where each currency only works in its county of origin (or other countries that choose to adopt it too), will progressively become a smaller and smaller segment of global economy.

Crypto, on the other hand, completely ignores national borders, and each crypto’s adoption and use will be based on the functionality and use cases for each currency.  Privacy coins will be highly attractive, as they will give people the ability to reduce their taxes by allowing them to buy and sell goods and services anonymously.

Security tokens will transform the finance sectors, as stock exchanges diminish, being replaced by crypto-securities exchanges.

The only part I haven’t figured out yet, once crypto takes over from fiat, is how governments will continue to function adequately if they can’t raise sufficient funds for their treasuries.

Your thoughts?

[loicuagio1979]

I think that it is too early to figure it out. The biggest question is when most of governments accept crypto? Because, there is a will, there is a way. If most of governments accept crypto and all of them manage to find suitable methods to raise sufficient funds for their treasuries, they could do it, even voting, lol.

[dE_logics]

It will begin with emerging economies where there is not a reliable or trustworthy economic infrastructure. This is Africa, parts of the middle East, and parts of Asia. I think there will be too much demand for it there for any political force to stop. More advanced parts of Asia will be next. It may take a long time for cryptocurrency to become a mainstream payment medium in places where the financial system is generally trustworthy.