Which country would be the first to eliminate fiat and convert to crypto fully?

[yasher]

If there will be one, my guess is Japan. It is a Japanese who started bitcoin in the first place. Plus almost every single person in Japan knows how to operate a computer or mobile phone. There are lot's of countries even if they use bitcoins as their official money, not everyone have an access to it.

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[Zemangat]

I think fiat money will still be used in china country. It needs legality and deep thinking if a country wants to use bitcoin completely. Bitcoin is not necessarily safe and practical for payment ... bitcoin prices are always changing and security is often bitcoin attacked by hackers .. it becomes a basic thought to set bitcoin as currency .. may be more suitable bitcoin be an investment ... long term for Earn profits.

[Hamphser]

Which country would be the first to eliminate fiat and convert to crypto fully?  My guess is China...

Its impossible for this thing to happen on which a certain would decide to eliminate their local fiat currency switching fully into crypto.Its impossible to think of for this thing to happen because a local fiat is somehow shows the sovereignty of a certain country which it do shows its power and also theres no country would decide to make trade-ups on local fiat-crypto which means its really a complicated thing to think off.

[Adbitco]

I don't think any country would do that as long as there's interdependence between countries for various goods, commodities, metals, minerals, gasoline etc. It would be hard for the countries adopting cryptocurrency as sole currency for everything in their countries to trade with the countries the economies of which are absolutely dependent or based on fiat. So the possibility of the elimination of fiat altogether by any country is rare as long as cryptocurrency is not given recognition by if not all the countries in the world but at least by a majority of countries in the world. Any country which decides to eliminate fiat will still have to be dependent on USD as they have to now for foreign trade.

[KennyR]

This can be seen among any of the Asian countries at the earliest. If this didn't take place in an Asian country then some small country around the world will go completely on digital currency. Right now Switzerland is completely in plans of switching to digital currency. Let's wait an see the reality.

[Harlot]

Which country would be the first to eliminate fiat and convert to crypto fully?  My guess is China...

Its impossible for this thing to happen on which a certain would decide to eliminate their local fiat currency switching fully into crypto.Its impossible to think of for this thing to happen because a local fiat is somehow shows the sovereignty of a certain country which it do shows its power and also theres no country would decide to make trade-ups on local fiat-crypto which means its really a complicated thing to think off.

I also think that it is impossible seeing that China is strongly against Bitcoin Mining I don't see that they will be the first country to operate in a Cryptocurrency only country. Also have you seen their population? Having at least a billion citizens in a country does not really help China become the first country to become paperless because it would take time for all of their citizens to fully understand Cryptocurrency, also the availability if the internet is also mandatory if your want to enter in that kind of implementation.

[gentlemand]

No country will ever, ever do it. They'd be throwing their economy away as it would basically stop working. If they can't control their currency then they can't control anything else either. It would be a right old mess.

And there's no real reason to put their fiat on a blockchain either. It all rubs along adequately as it is.

[Maum]

UI think it will be Japan or another country from Asia. Technology is one of the best and moest innovative in Japan. They will continue to the second step to replace fiat money by crypzocurrencies.

[shine1123]

Which country would be the first to eliminate fiat and convert to crypto fully?  My guess is China...

Either USA, South Korea, Japan and Russia. Their technology and living in these country are the best and full of digital technology. I mean, i'm sure these country will use digital money someday like crypto or other online currencies and we can deny that our live will become easier too if people around the world start using digital money as the payment.

[Xester]

I doubt that it would be China.  Because they are not that modern compared to Japan.  I do not know, I am just guessing.  I would go for Japan since they are always first on technology.  Bitcoin is firstlegalized there right? 

[Afnan_faizah]

Which country would be the first to eliminate fiat and convert to crypto fully?  My guess is China...

Denmark, the experts opinion is Denmark will be the first cashless country.  They will replace paper money by technology.

[fudster]

Don't you think they will only create coins to maintain its value like USDT (tether) or in China Yuan which the Yuan token could only have a value of the current price on FOREX.

Fiat money contains historical facts by the way, can crypto developers put George Washington on USDT?

[garmerys]

That’s a very difficult question to answer because a country that’s going to fully accept bitcoin as a standard mode of payment is going to be criticised and I think the country’s currency value is also going to go down a bit. So the country must be ready for all these.

[pedrog]

Which country would be the first to eliminate fiat and convert to crypto fully?  My guess is China...

There is no country with 100% Internet coverage 100% of the time, with 100% of its citizens owning and carrying all the time devices which can make transactions.

A country with 100% digital currency will leave a lot of citizens out of the economy.

BTW, what makes you thing a crypto-currency issued by a government will not be fiat?

[Nivir]

My guess would either be Japan or Korea if ever fiat will be eliminated and converted to cryptocurrencies, because Japan as we all know is one of the most highly technologically advanced countries worldwide so my first thought would be this country. Then maybe Korea because they have invested a lot in the crypto world so I was thinking this is for their future currencies too.

[fudster]

My guess would either be Japan or Korea if ever fiat will be eliminated and converted to cryptocurrencies, because Japan as we all know is one of the most highly technologically advanced countries worldwide so my first thought would be this country. Then maybe Korea because they have invested a lot in the crypto world so I was thinking this is for their future currencies too.

If you have been in Japan, they value history which is why modern technology and cultural infrastructure all sit side by side. We know bitcoin has been adopted by stores in japan already but that might not be enough to dominate entirely. Fiat will be valued by their government. They don't have corrupt government by the way.

[Barbarian]

You can not expect that everyone has to use crypto currencies as payment method. If a government exchange their fiat system with the decentralized bitcoin e.g. how should the system work then? In the fiat system, all the existing money is a debt while bitcoin or crypto currencies in general are a value storage.

I am not aware about any country that currently uses a value storage as their payment system?

I have no doubt in my mind that if bitcoin takes over then we will need to remake the whole economic system, the current system is based on debt that is why those that are able to avoid being indebted during their lives have a much easier life than those that have a ton of debt.

[Monnt]

No country would be insane enough to kill their fiat for an unstable currency such as bitcoin. Not to mention all other risks that comes alongside it i.e. wallet getting stolen from tech-illiterate people or kids getting confused how to relate denominations to bitcoins.

I don’t think so these all problems are in any way created by bitcoins. Though it is little tough to deal with bitcoins but it would not be awkward or stupid to treat bitcoins as a legal currency by any state. Fiat can also be stolen whether it is in bank or in your pocket. In short, bitcoins are worth making a national currency with fiat.

[azguard]

I will go for Sweden maybe. From what i know about them is that they rarely use any cash just cards, and perhaps cuz of that they will do it first. Also about them there was some lines on net that they even wanted to made e-krona there own cryptocoin for Sweden alone but seem this project went down at some point.

[luxcoin]

some very small country can do this but i think FIAT will not be eliminated