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

[NoobyIntellecutual]

Fiat is very important and it is better for the normal lives i would like to say that bitcoin is very good and profitable for investment rather than investing in fiat people were investing in Dollars and pounds but now the trend is changed and people happily invest in it. So it shows importance of fiat that now people pay fiat for investing in crypto.

The investors not only from the dollars and pound but also the gold investors coming to invest in Bitcoin. These are currently smaller in amount which will be increased much more when any ETF will be approved. The it is possible that all of the stock exchange investors invest in Bitcoin some amount of their money.

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[slocker]

FIAT currency is very much needed especially for exchanging FIAT to Bitcoin, because if we want to buy Bitcoin, of course we must have FIAT money first. So it is very necessary for life in the real world by people all over the world.

Yes this is true but think that maybe question could be little more different. What could be and can it be possible to change everything from FIAT to crypto and how could it look like perhaps, does anyone think about it for even little.

[electron-coin]

Perhaps in the distant future fiat will not be needed at all, but in the near future I strongly doubt. Today, many people in the world live below the poverty line. These people don't have access to elementary things, let alone a computer or telephone. And they need fiat to buy at least some food or medicine. When this situation changes, then we can say that fiat is not needed.

[redsap]

it should say the world are need this, for the economic growth people need this, for techonolgy invention people need this, because world always moving foward. when there are progress for the change like gold to fiat currency people use fiat but also still using gold for an object investment or else, so it still necessary in this world before cryptocurrency can going worldwide

[East2011]

Of course, fiat money is still very important. Because it is still more convenient to use in our daily life. Especially those people who are struggling in their life. And don't have any access in the internet or don't know what are cryptocurrencies.

[jojowar]

For me as of this moment, fiat currencies are necessary around the world because not everybody knows about digital currency and there are only few establishment accepts bitcoin as mode of payment. Maybe in the future we will use cryptos not the fiat.

[princeyeboah]

As long as the governments remain and centralization is their topmost priority, Fiat will always have a place in the world - no doubts about this. Most of the governments and politicians draw much power from centralization especially on the financial sector. Crypto does not allow the governments to own absolute control over the financial transactions of the people, hence that power is taken back to the people by the power of decentralization of crypo.

[Cupomi]

Not necessarily but also keep in mind that not everywhere in the world do people have internet!!, also some people in this world will NEVER be able to afford internet, making crypto useless to them!!!

every country has advantages and disadvantages, there are countries that have very high internet networks such as developed countries so they can already use bitcoin in each of their transactions, but there are still countries that do not have adequate internet connections, so that citizens cannot using digital currency, and of course banknotes are still very much needed, digital currencies or bitcoin will have different users than fiat currencies.

[BlockGroup]

Depending on how far forward you want to look to. I am sure their usage could equal that of fiat but to replace cold, hard cash entirely could prove to be a difficult thing.

In certain countries people living in middle-class and above are more likely to keep their money in the bank and spend with their debit/credit card rather than hold the cash, but those on the lower end will tend to make more purchases through cash, there are some jobs that will be paid via cash in hand, rather than needing to be registered through bank accounts etc...

At the same time, if there only exists digit cash then physical payments are likely to just take on a new form.

[Nnedaddy1]

Yes. Fiat currencies are very necessary to the socioeconomic development of any nation.
If Fiat is scrapped today, it would mean depriving people especially the aged the privilege and right of using cash to purchase goods and services or do businesses.

[jademaxxiss012]

What do you think about regions without internet? What if your telefon is off and you don't have connection to internet,especially in other country? Crypto is really good, but our society isn't that advanced and some parts of the world remain in the past. Probably in 10 years something will change current situation, but at the moment total fiat replacement isn't possible. A lot of things should be regulated, new laws should be added and so on

Yes I do not think OP has understood the importance of fiat money. Cryptocurrency is only an upgrade form of fiat currency where one could trade peer to peer without using the third party service. However, for now the peer to peer transaction is very costly and everyone has to pay more transaction fee from conversion of fiat to crypto and vice versa.

[Ozero]

Whatever we say here, the national money of the states will continue to exist as long as the states themselves exist. I think that no one will express their doubts that states will not exist and disappear in the foreseeable future. States, national economies and national money are inextricably linked. At the same time, in order for the national money, that is, fiat to disappear, an appropriate decision of the highest legislative body of the country is needed, and such a decision will never be, because it is equivalent to the self-dissolution of the state.

[SCheek]

Fiat currencies are not necessary but government support is at this stage. Unfortunately.

[sclmte]

for me, I can not tell about a fiat currencies but I think everyone might need a fiat currency because not all people are using and knowingly working in a cryptocurrencies in the country. but when our future is touched our attention maybe the cryptpcurrency is approaching a fiat no later today tomorrow. but after all when we use fiat money we can see the real result so we just follow what is right.

[iMark]

for me, I can not tell about a fiat currencies but I think everyone might need a fiat currency because not all people are using and knowingly working in a cryptocurrencies in the country. but when our future is touched our attention maybe the cryptpcurrency is approaching a fiat no later today tomorrow. but after all when we use fiat money we can see the real result so we just follow what is right.

if we look at the perspective of a crypto user, of course the answer will vary greatly, some users may still need it and other users don't need it, but you're right. why we don't ask answers to outsiders? of course they are still very dependent on fiat

[Honnet43]

I think that now there is no substitute for fiat currencies. Yes, cryptocurrency is a good thing, but as the main currency is too unpredictable. If the government decides to use it - no one knows what will happen to the economy, people may lose all their savings. And who will be blamed for this? - Of course the government!
Therefore, the government is just watching.

[Tylev]

Of course, we need the national money of the states; without them, our society will not be able to function normally. The system of monetary relations was formed and developed over the centuries and millennia. It can not be broken in one moment, it is more than reckless. And in any case, it will exist regardless of the desire of persons engaged in cryptocurrency. No state will ever give up their national money. It would be a great folly.

[Aponkye1]

Well we hope to advance to a faster and more secured payment system and cryptocurrencies have such feature but the only problem with cryptocurrencies its issues concerning volatility. Until we are able to solve the issue of cryptocurrency volatility then we cannot do away without fiat currency.

[tinystone26]

Yes of course we still need our paper money because we all know that other people still don't want to use online currency. And I think we can't force them to use it for payment to their transaction and some issues about those people who scam other people that can really make other people to get afraid of using online currency that's why we should make sure that it must be solved first in order to use this currency worldwide.

[Best Dreams]

for me, I can not tell about a fiat currencies but I think everyone might need a fiat currency because not all people are using and knowingly working in a cryptocurrencies in the country. but when our future is touched our attention maybe the cryptpcurrency is approaching a fiat no later today tomorrow. but after all when we use fiat money we can see the real result so we just follow what is right.

if we look at the perspective of a crypto user, of course the answer will vary greatly, some users may still need it and other users don't need it, but you're right. why we don't ask answers to outsiders? of course they are still very dependent on fiat

Use of fiat is almost zero because people loved to use digital currency more than fiat. Fiat is now support only by few counted number of people but digital money is world popular and it’s being liked by people for huge profit and easy use at any place without any difficulties because mostly countries has adopted it as payment resource.