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

[slocker]

In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.

More like fiat is used cuz they are here from start used in the world. Money it self is something that we all used to have one way or another so with digital currency we have some new option on this and hopefully we will be able to used every day in some time.

[anamie]

Of course fiat currency is necessary, for me it's more convenient if use fiat currency in every transactions and you can easily used it, unlike cryptocurrency you can't used it without internet connection and you have to be knowledgeable in crypto if we were going to used this kind of currency.

[Nissan-GTR]

Fiat currencies definitely aren't necessary, there is an increasing trend towards digitization of currency, and blockchain based currencies are just the next generation of this. The problem is that Bitcoin came out, and everybody treated it as the successor to fiat currency, rather than an incremental improvement on digital currencies such as Paypal and Skrill. I think that if Bitcoin was never invented, but somebody like Paypal had implemented a blockchain technology first, then we wouldn't be in the rivalry scenario that we're in now.

Well in contradiction to what you have said, fiat for me is necessary given that Bitcoin will not be implemented without coming up with the idea of better trnasaction which we can say as the main not totally problem in fiat, but it just that it takes time to undergone certain progression when it come to payment, so whether you like it or not it affects cryptocurrency which make it necessary.

[JRoa]

Fiat currency have a important role in our economy. Think about it if there is no fiat currency? how we will buy goods and services? Fiat currency serves medium of exchange for us to fulfill our daily needs and wants.

[fistteam]

I think fiat is still needed in the future. Think about when you want to own the crypto coins you have to trade from Fiat to Altcoin or Bitcoin. Replacing crypto with fiat will be detrimental to poor farmers who have not been exposed to the technology. How can they store crypto coins? The crypto coin was created to make the world change, but wanted to change completely, each country does not have the poor. So, this future is unlikely.

[Sirait]

of course, it is the fiat currency that is currently driving the world economy. without fiat currency, the economy will certainly not be able to move. and in the future, I am very sure that the cryptocurrency that will move the economy wheel and fiat currency will be replaced by cryptocurrencies.

[Vektrum]

Without ordinary national paper money, the economy simply cannot exist. Cryptocurrency is not able to replace fiat. Cryptocurrency can only be an addition to the existing conventional currencies. Cryptocurrency can not be associated with the economy of a particular state. In addition, planning the development of the state's economy in cryptocurrency is impossible. In this regard, no state will ever give up their national money and will not switch to the use of cryptocurrency. Therefore, these are all just fantasies that have no material justification.

[Chachacoin17]

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.

That is true, fiat is really necessary and needs to accomodate and comply the importance and crypto there is an alternatives that can be use as payments and it endorse it into easy way around. The governments are accomplishing all the necessary and needs in the community.

[FlightyPouch]

Of course fiat currency is necessary, for me it's more convenient if use fiat currency in every transactions and you can easily used it, unlike cryptocurrency you can't used it without internet connection and you have to be knowledgeable in crypto if we were going to used this kind of currency.

Fiats are necessary not only because it is more convenient than than the crypto currencies but also because it is the currency being used by a lot of people for a long time now. If the government will be changing that quickly, a lot of people will be having an argument since not all of the people really want to change things, most of them want they had used to be. Also, currencies has their national identity on it, removing it and using Bitcoin is like removing your national currency off the globe.

[repsol]

Fiat currencies definitely aren't necessary, there is an increasing trend towards digitization of currency, and blockchain based currencies are just the next generation of this. The problem is that Bitcoin came out, and everybody treated it as the successor to fiat currency, rather than an incremental improvement on digital currencies such as Paypal and Skrill. I think that if Bitcoin was never invented, but somebody like Paypal had implemented a blockchain technology first, then we wouldn't be in the rivalry scenario that we're in now.

Fiat currencies obviously is necessary even though digital currency now is becoming trend that keep increasing and improving. The existence of digital currency and crypto will never replace fiat currency because in some context it is becoming the proper and effective means payments. Do we can't replace fiat by digital money? I don't think so. However, fiat and digital money as crypto currency should run together.

[pedangrusak]

Fiat will give false values to the community because the government can print as much as they want and the community will be harmed by that, behind the government there are elite and politicians who will continue to play around with a country's regulations and finances with monetary power for printing money. bitcoin and altcoin will be more resistant to this because their supply is fixed and this will be more useful for the community

[Loopper]

Until now fiat currency is needed by everyone to buy what you want if it doesn't exist then you can't make transactions to buy what you want. Everyone needs it so don't expect the fiat currency to be absent.

[reality18]

Fiat will give false values to the community because the government can print as much as they want and the community will be harmed by that, behind the government there are elite and politicians who will continue to play around with a country's regulations and finances with monetary power for printing money. bitcoin and altcoin will be more resistant to this because their supply is fixed and this will be more useful for the community

You have a point. Because of the centralized nature of the Fiat, its transactions, printing and regulation is subjected to the control of the governments who can manipulate it to suit their interest. Cryptocurrency does not allow this and will give financial freedom to the people but now, not every part of the world has technology inclined or literates who can access the technology of the Blockchain and cryptocurrency. There are still some part of the world without access to the internet or have poor internet connection which makes the patronage of the fiat more comfortable to the people than cryptocurrency.

[mornabo]

In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.

I think the answer is to ask yourself, are you still using fiat to buy something? I think most or even all bitcoin users must still rely on fiat to pay for their daily needs, you are right that technological developments will not change anything on fiat as the main currency

[Cupomi]

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.

Fiat currency will always be needed, because the bitcoin currency cannot meet every need of the people around the world, the bitcoin currency clearly requires technology that is always related to the internet network, while not all regions in the world have internet networks, become fiat currencies or paper will always be needed, especially in remote areas, and in traditional markets, maybe in the future fiat currencies can complement each other with alternative currencies of bitcoin.

[dimox]

maybe for some people or party. needed to develop their work in economy, currency, transfer, and other. for some people or party, its ordinary, its not important as they think. the problem is not all people in the world ready to accept it as currency, not all people know about cryptocurrent and use it as currency. people use this one for their advantages, but maybe, someday, world can accept it pure as currency

[zoeylee]

I think we need fiat as not all countries are adopting crypto currencies. Cryto currency has it's own advantages that will surely met with regards  on technology.

[Loopper]

In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.

I think the answer is to ask yourself, are you still using fiat to buy something? I think most or even all bitcoin users must still rely on fiat to pay for their daily needs, you are right that technological developments will not change anything on fiat as the main currency

This seems to be a question that doesn't really need to be answered because everyone already knows and understands this question. This answer is all in yourself. No need to make an easy thing difficult.

[anjho.ace]

It is necessary that the world have FIAT to use.
Cryptocurrency or digital one is not suitable now for the world as it depends on the internet to be use or transfer.
Many people has no knowledge and some if have has no gadget to use.
we should considerate them to have a better world.

[Meowth05]

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.

Of course they do, you cannot replace fiat because still there's a lot of folks who prefer to use fiat over crypto because in some reasons cypto is complicated for them especiall native people. Besides, folks are more used to it since they've using it for a long time since they were born up to now so. Moreover, there are some things that you can do in fiat but not applicable to crypto. Therefore, fiat cannot be replace but crypto could be still be used by everyone as another mode of payment.