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

[St4yInTh3D4rk]

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.

Using internet is not big deal,people are already using the smart phones so they may know how to use it but fiat was not from too long,the currency system was there for too long but the banks only rises before few centuries back and the convince the people that fiat can be a good medium for trading but nowadays we are going behind it.

[waqasniaz007]

Till now Fiat currencies are necessary because if you want to get profit or withdraw ur crypto or you want to use, You have convert in USD and than to your local currency because crypto currency is not accepting anywhere?

[aris av]

Currently fiat currency is needed because it is a means for exchange, but I think for the future cryptocurrency will be preferred over fiat currency.

[Anarchist]

We could come back like during the old time but it would need a lot of effort. The time where people were using gold, rice, sugar...
But it will be a pain to make the switch., maybe too much to be possible. I don't know how I will be able to send bread with SEPA

[bitbunnny]

I think fiat currencies are necessary because economy of the whole world is based on them.
That doesn't mean that some changes will not happen with time but still cryptocurrencies will not replace fiat money and to my opinion that is not their purpose. And because of their characteristics that couldn't even be possible.
But cryptocurrencies can exist.along with fiat and be different alternative that could also help fiat currencies and economy to transform.

[Gibreil]

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.

A big yes to you! Fiat currency became the means of transaction during renaissance period when the gold becomes few and people came up to the point that they discovered paper currency. It became an efficient from everybody to use it and we are already professionals when it comes in using fiat.

[Harvey-Connan]

Many of you think that fiat currencies are needed in the world but I have a difference idea. Since cryptocurrency are developing more and more, It can adapt to almost the demand of human. It also plays an important role as a digital currency. I am waiting for the official of cryptocurrency. I hope It will soon be legalized and replace fiat currencies.

[putrii]

yes of course this fiat currency is very important and is very used for many people because this fiat currency has been used very often for various payment methods so that replacing the digital currency will be a little difficult to accept because of the new and not yet digital currency technology can be used for payment of various platforms.

[Bunsomjelican]

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.

Nowadays, Fiat currency has still a big role in every country's circumstances. In every problems we faced it is always apart of solutions that fiat currency are involved in it. Probably in the near future, were going to have an innovations regarding the system about in payment, once the blockchain technology adopt by the government in the entire world, time will come fiat currency replace by the virtual currency, this just according to my perceptions anyway.

[sgenuine]

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.

Even the biggest crypto fans can not live without using fiat. Traditional money is very convenient to be used in everyday life. If you go to the local store, you will pay with it. It is simply necessary.

[Irvinn]

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.

There will never be a replacement for the usual currency cryptocurrency. It is simply impossible, if only because no government will ever agree to give up their national money in favor of a decentralized cryptocurrency. National money of the state interacts with the economy of this state, and the cryptocurrency can not have such interaction, it exists by itself.
As long as different states exist, their local currency will exist.

[SkvorNyc777]

Yes, they are 100% necessary in current world, more to say - crypto cannot replace it instantly because it is not optimized perfectly now.

[Kez1817]

   Ofcourse because it is issued by the national government to be use in our daily needs and transctions. Fiat is the medium of exchange because it is tangible and stable value unlike digital currency. Cryptocurrency will grow year by year but fiat money will remain to be use in our daily lives.

[Omegasun]

   Ofcourse because it is issued by the national government to be use in our daily needs and transctions. Fiat is the medium of exchange because it is tangible and stable value unlike digital currency. Cryptocurrency will grow year by year but fiat money will remain to be use in our daily lives.

If we don't go outside our home then we don't need fiat, which is impossible since we go outside home, that's how important fiat still is, there are still numerous people who doesn't aware crypto exist.

[ocid]

   Ofcourse because it is issued by the national government to be use in our daily needs and transctions. Fiat is the medium of exchange because it is tangible and stable value unlike digital currency. Cryptocurrency will grow year by year but fiat money will remain to be use in our daily lives.

If we don't go outside our home then we don't need fiat, which is impossible since we go outside home, that's how important fiat still is, there are still numerous people who doesn't aware crypto exist.

no one will survive just locking himself up to stay at home, whenever he will definitely feel bored and go shopping at a nearby store to buy daily necessities using fiat, that is the importance of fiat currency in real life, even though technology is increasingly modern , but not everyone can benefit from this digital currency because there are still many people who do not know of cryptocurrency.

[Gabali126]

Fiats are as important as the cryptocurrencies. Fiat does not have the numerous network problems associated with cryptocurrency and as such, fiat can always be used during poor network situations or areas.

[popolite11]

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.

In a way, you are right, but if you offer most of the people to make the choice and pick a "gift" - the cryptocurrencies or fiat, they will take the traditional money. Many years will pass before most of us understand the crypto's advantages.

[Rena5]

Fiat currencies are still much needed for me,it is easy to use.Depending in what country you are living.
While traveling  from other countries with your native fiat just go to money changer easily.
Buying stuff or souvenirs is best use the fiat currency.

[loragean03]

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.

Yes, you can't fully rely on crypto currency because of its volatility price and value, you can't use it for daily basis like in a regular restaurant who don't accept crypto as payment, maybe in the future if all the countries accept crypto currency as payment it will be possible, but for now we need fiat currency to circulate our daily needs.

[MoreMoneyHunt]

For this generation, fiat is still necessary because there are some people among us who irrespective of the education, will fumble with the transaction processes of cryptocurrency. There are still some part of the world without internet connections and modern smart devices and computers. How can these people trade if the world goes entirely cryptocurrency immediately.
For now, let fiat and cryptourrency coexist in order to serve their unique purposes.