In the future, will fiat currencies be necessary in the world?

[chairmanMao]

You can question fiat money, such as taxes. But I think this is the future trend. The emergence of stable currency is conducive to the growth of cryptocurrency, but the way of regulation can be diverse.

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[arnaudel98]

Fiat currency is currency that has been legal by some government that is not backed by a physical commodity such as Gold or Silver or Oil for example. The value of fiat money,  can be USD or EURO or GBP or something else. There is always a certain relationship between fiat currency and Gold and other valuable materials. So in some world you need some material mostly for all countries in the world is GOLD to be backed up for fiat. So this opens many other questions is it good or bad to have fiat as prime or to change to crypto and blockachain technology.

Some many believe that fiat currency system is the best option. International adoption has taken place for a number of reasons. What is the reason for this, some say that is obvious one and that is GOLD is something that will run out eventually and paper money wont. Then for what is good fiat. For one thing, it allows governments to provide stimulus, take on debt and provide investment. That is main purpose and relationship between Fiat currency and Gold.

Also by using fiat we're giving high tax i know no one want to give extra taxes but its our responsibility because with tax we are helping government. SO in short fiat is to much necessary for the economy and the country progress.

[Btc_1856]

Fiat currency is very significant in today's world. It has established an important role in different transactions ariund the world. Replacing fiat currency by cryptocurrency is still far frim reality. Cryptocurrency hasn't been that reliable in terms of consistency and security.

From many decades people are fairly using the fiat currency for their home needs and many more other transactions, in order to use cryptocurrency still we don't have very well established platform and it will take a lot of time to implement cryptocurrency. Cryptocurrency will act as part of the transaction but completely we cannot able to implement them because due to fluctuations.

[GemmaJon]

together with the development of currency, i think fiat currencies will not necessary anymore. Cryptocurrencies have so many advantages over fiat. It will soon be replaced by cryptocurrency.

[slocker]

together with the development of currency, i think fiat currencies will not necessary anymore. Cryptocurrencies have so many advantages over fiat. It will soon be replaced by cryptocurrency.

This will happen but hot that fast. Reason for this are many and those reasons are mainly in global level. If something has to change then ok but still more then 80% of world countries are still really on fiat or gold. Crypto is even ban in many countries so doing this will require lot of first time then effort to adopt everything in regular day system. Why cuz we pay fee for every transaction no matter how small that is and this may be problem for many countries that are even considering this option and implementing crypto payment in everyday. Maybe after few years and when we see how Japan model when with some information about we will be able to say little more specific and detailed.

[Papcio77]

That's not possible to happen, Fiat will always there even thousand years goes past. Crypto is a modern technology and as of now huge percent are still not evolving, not even use cellphone, not have internet connection so no chance to live with this online transaction.  Fiat and crypto is joined to improve the world

[InvestICO2L]

of course fiat is necessary. because fiat is more or less safer currency comparing with other alternative currencies such as crypto currencies. they are mostly backed by governments and also easy way to make payments.

Yes fiat currency are still important. And in some place they are more important then that of digital currency and cryptocurrency. Cryptocurrency are not a global currency, it ban in many place and many people still doesn't use it. And it is an independent currency so their is no stability in its price. In the other case fiat are world wide accept and it has more stability than that of cryptocurrency. Cryptocurrency currency are only use digitally  so in those places electricity or Internet not available in those place you cannot use cryptocurrency but fiat currency you can use any time anyway. And people have more trusyon fiat currency than that of cryptocurrency.

Yes, at this time Cryptocurrency almost does not have the talk in the whole world and Fiat is the most popular and familiar currency unit in most places of the world. No one can deny the convenience as well as the modern that crypto brings to us, but compare to fiat currency, crypto covers much risky than fiat because it’s extremely volatile and it almost does not have stability. Moreover, people are accustomed with using fiat in their daily life and many people are not aware of cryptocurrency or they even don’t give any trust for digital currency, they just believe in something that is real. However, if cryptocurrency is recognized officially in the future, it’s completely more likely to replace the function of fiat.

[HarmonyA]

I stand to be corrected. Fiat is still necessary in the world. every currency has its role, despite the theories behind it. We shouldn't look at the advantages of digital currency, there are several disadvantages too. If a wallet is hacked, the effect is detrimental. I still believe in fiat cos it can be used by both illiterate and literate populace.

[Spaffin]

Currencies of individual states will exist until the need for them disappears. And this will be decided in all cases by the representative bodies of these states. The need for national money may disappear when uniting the economic and financial systems of different countries as it was done in the European Union. In all other cases, the currency of individual states will exist as long as the state exists.

they will continue to believe and convince themselves in the respective country's currency, the use of the euro currency only as a joint incentive to escape the influence of the USD exchange rate. But all will change if finally they adopt crypto, fiat needs will shift digitally and they must be able to make their people adapt immediately.

Fiat will always exist, because in the state money must go, which will be interconnected with the economy of this state. In this case, the cryptocurrency cannot in this plan replace the national money of the states. In addition, such a replacement should occur only by decision. government, and it will never make such a decision.

[Assface16678]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

This got some point. Fiat has a huge role to the government that is why government is doing something to eliminate cryptocurrency. It might be a necessity of today but when the time comes that people build enthusiasm to the cryptocurrency, fiay might do mot have its value anymore.

[Burogh]

Fiat currency is currency that has been legal by some government that is not backed by a physical commodity such as Gold or Silver or Oil for example. The value of fiat money,  can be USD or EURO or GBP or something else. There is always a certain relationship between fiat currency and Gold and other valuable materials. So in some world you need some material mostly for all countries in the world is GOLD to be backed up for fiat. So this opens many other questions is it good or bad to have fiat as prime or to change to crypto and blockachain technology.

Some many believe that fiat currency system is the best option. International adoption has taken place for a number of reasons. What is the reason for this, some say that is obvious one and that is GOLD is something that will run out eventually and paper money wont. Then for what is good fiat. For one thing, it allows governments to provide stimulus, take on debt and provide investment. That is main purpose and relationship between Fiat currency and Gold.

I am agree with your opinion. Paper money that print from thin air is not good because make inflation always rising. Currency backed Gold will make government can control inflation because the focus not only on growth.

[MoreMoneyHunt]

Fiat is necessary to some extent but cryptocurrency surpasses it in many ways. As long as some part of the world do not have access to the internet and modern computers and some generation not well knowledgeable in ICT, fiat will continue to exist and serve as medium of exchange. Both Fiat and cryptocurrency can coexist.

[wahyu wida]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

This got some point. Fiat has a huge role to the government that is why government is doing something to eliminate cryptocurrency. It might be a necessity of today but when the time comes that people build enthusiasm to the cryptocurrency, fiay might do mot have its value anymore.

changing country's financial system is not easy, many effects are caused because of this, besides that it must take risks. therefore it is not surprising if government delays to legalize cryptocurrency

[jikurpa]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

I strongly agree with what you convey fiat currencies and crypto currencies to have their respective functions which, as you say, might be better collaborating with both of them to make things better in the future

[Pattart]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

I strongly agree with what you convey fiat currencies and crypto currencies to have their respective functions which, as you say, might be better collaborating with both of them to make things better in the future

we don't need hypocrites that we still use fiat and still rely on fiat to pay for daily needs? You can't depend on crypto to pay for food in a small restaurant or in the countryside, do you ? of course we still really need fiat for life now, you're right it will be much better if we collaborate it..

[Seeker#9]

Fiat have been use since the start of commerce and its been used extensively throughout the history of mankind. Long before the cryptocurrencies are created, fiat is the main currency of the world and majority of the people are using it in their daiky transactions. It still necessary to use fiat because majority of merchants still depend on it and they don't often need to go online to use it or perform some transactions. Bitcoin and other cryptocurrencies are for the ones who know how to use internet.

[hahay]

Fiat have been use since the start of commerce and its been used extensively throughout the history of mankind. Long before the cryptocurrencies are created, fiat is the main currency of the world and majority of the people are using it in their daiky transactions. It still necessary to use fiat because majority of merchants still depend on it and they don't often need to go online to use it or perform some transactions. Bitcoin and other cryptocurrencies are for the ones who know how to use internet.

Even people who know how to use the internet still won't guarantee them to transact using cryptocurrency. People who use crypto are only those who have enthusiasm and know about crypto in general, so with the majority that happens, of course, fiat currency is still very much needed.

[RadjorBlade]

Fiat have been use since the start of commerce and its been used extensively throughout the history of mankind. Long before the cryptocurrencies are created, fiat is the main currency of the world and majority of the people are using it in their daiky transactions. It still necessary to use fiat because majority of merchants still depend on it and they don't often need to go online to use it or perform some transactions. Bitcoin and other cryptocurrencies are for the ones who know how to use internet.

Fiat money will still be used, because it is easy and does not require technology such as the use of bitcoin. However, with the times, people who are familiar with technology prefer to use bitcoin for payment transactions. Both are needed, where the choice of use is on everyone.

[zhanyiguai261315]

Money is a special kind of commodity. The special thing is that its main purpose is to exchange media!
The legal currency is a special commodity of the government's credit guarantee!
The existence of legal tender is definitely necessary!

[Best Dreams]

From now till the day that we are crypti currency dependend as a species, fiat will still be needed as the transition is made. Much like what happened when barter was replaced with an efficient system such as fiat ages ago. Fiat will be replaced by crypto currency in the future but definitely in the far future.

Well, I think you will start to realize when buying an asset in the real world, we need to use fiat in our own country to solve various matters. even some of the crypto users, will exchange the assets they have for fiat.

fiat could not be replaced by any fiat any time.we still need fiat in any condition and in any place.cryptocurrency only suitable for investment portofolio.

Fiat currencies are issued currencies from government side and we use in banks and every market place both as investment and payment mode. Furthermore it helps us in carrying out all life activities where we deal with money so it will be irrelevant to ignore or neglect fiat completely is same as we are without car. Besides fiat currencies the modernism has made further easiness for us so we should get benefits of both.