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

[laurakim]

yes, of course. For me, the economy system need fiat currency to maintain the development this world. And the government need it to control economy world wide

[barabarian1]

in my opinion, in the future cryptocurrency will definitely grow rapidly and many people will need it to transact. even though later the government has adopted and will get a tax from cryptocurrency, I think the fiat currency is still used by the public, especially the middle to lower class society. and in my opinion, cryptocurrency and fiat currencies will be equally used by people in the future. I can't imagine people who want to buy a candy or something very cheap using crypto. surely it will be easier to transact with fiat when buying and selling activities on a small scale. so I think cryptocurrency and fiat will run side by side later.

[bonammeo]

Future fiat is not necessary. However, at present it is really necessary, not everyone can access the internet. If you say it's not necessary then you are a visionary, do you think the world economy is as simple as a game so you can change it? Really want to eliminate fiat is a long time carefully prepared, not only to meet this, everyone's understanding must be enhanced. If the problem is as simple as you say it has come to fruition long time ago.

[ghermghuda]

Well, i really like your assertion but the other side is that when can crypto be the only currency needed for survival. To me zi think currently, they can both coexist but it'll take a long time for crypto to really take over.

[lelylely]

Fiat is needed because it is a legitimate medium of exchange. Crypto does provide other benefits and seems more modern than fiat, but fiat plays an important role in life. In everyday life you still need fiat to meet your needs.

[gilabusuk1]

In my view that with fiat currency cryptocurrency has been replaced well, cryptocurrency includes all functions of fiat and even cryptocurrency has more benefits than fiat

[necromastery]

Fiat is needed because it is a legitimate medium of exchange. Crypto does provide other benefits and seems more modern than fiat, but fiat plays an important role in life. In everyday life you still need fiat to meet your needs.

Well, however we can't say crypto is important than fiat. Without fiat, crypto also have no price, because basically fiat is the price benchmark. Crypto is only a support currency for making online transaction so easily, not to be more important than fiat.

[feehannah]

in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?

It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.

From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.

Fiat currency is always necessary in this world even digital currencies are there. They have different uses and function. And before you can use crypto you need to transfer it first into fiat money. Fiat money is really important and it will not disappear just because of cryptocurrency. They have different reason why they are created.

[HarmonyA]

Fiats are necessary as it has been the traditional currency for decades. Cryptocurrency is yet to get to where fiats has reach as all members of the economy uses it despite their level of understanding of digital know how.

[Burogh]

A country always need their own currency to measure their economy strenght. I am believe fiat currency still needed even cryptocurrency mass adoption become reality. Government need fiat because its more flexible use in their own area

[laurakim]

I think Fiat currencies is what we really need because It helps to run this world. Othewise, if we use digital currency as an official currency, the government can not control digital currency, I think it could harm to the economy system in someway

[MAJICOIN]

In my opinion according to the present situation fiat is important because not every one can use crypto and it is not easy for every one poor peoples are not educated they have no resources they have less amount of money so they can use only fiat for their lives and other people can get benefit from it.

[geberger]

Yes definitely. The Fiat are as important as the cryptocurrencies. If you take away the fiat, the world economy may destabilize. Every commodity is pegged to one government fiat currency or the other.

Yes fiat is necessary because everything is possible with fiat. Anything you need can by buy with fiat. Also fiat play an important role in economy plus bitcoin also required fiat in order to buy it.

[bummm]

Yes definitely. The Fiat are as important as the cryptocurrencies. If you take away the fiat, the world economy may destabilize. Every commodity is pegged to one government fiat currency or the other.

The traditional money will stay more important than the cryptocurrencies for many years. It will take much time to let the people understand that the digital money is something that is faster and more convenient.

[zhanyiguai261315]

The existence of legal tender has a long history!
Its existence proves its rationality!
The existence of cryptocurrency proves its rationality, and in the future cryptocurrency may replace some of the functions of legal tender!

[Kurevazeyo]

I think that there is still a need for Fiat money, because not all countries and people are adapted to cashless payments.

Fiat money is needed whenever, because not every country has technological advances that support the use of digital currencies. The main requirement is the existence of a strong and stable internet network. Without it, the use of digital money is impossible. Then human resources must understand technology. If people are still stupid, they certainly cannot use digital money.

[BlackPanda]

Yes definitely. The Fiat are as important as the cryptocurrencies. If you take away the fiat, the world economy may destabilize. Every commodity is pegged to one government fiat currency or the other.

The traditional money will stay more important than the cryptocurrencies for many years. It will take much time to let the people understand that the digital money is something that is faster and more convenient.

Digital currency is currently experiencing a very good development, when compared to fiat then of course that fiat will be far more valuable. We can see this comparison from the market share achieved by both. FIAT still dominates and I'm sure that over time the cryptocurrency can be together to build a much stronger world financial system.

[MTNAX]

I think the use of fiat money still needs to be done because not every country uses digital money. There are still people who do not understand the technology so that they still use fiat money as their daily money. Fiat money can be used all the time, but if our digital money must have a strong and stable net all the time.

[hashshashin]

I believe in the crypto-currency industry and the fact that they can be used as a means of payment, but in the near future it will be very difficult to refuse cash, because the world economy and the banking system are not ready for this.

[RokokGudangGaram]

of course because all this time the currency that is always used every day is fiat currency, so with the digital currency the fiat currency will never be replaced