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

[babarian]

some think and predict that the FIAT currency will not be needed in the future, but I find it hard to believe in some of these predictions. Crypto currencies including digital currencies have indeed been widely used today and are beginning to shift the position of the FIAT currency among the public.
however, I believe that the FIAT currency will still be needed and will continue to be used even if the digital currency or crypto currency is global.

[zemper]

some think and predict that the FIAT currency will not be needed in the future, but I find it hard to believe in some of these predictions. Crypto currencies including digital currencies have indeed been widely used today and are beginning to shift the position of the FIAT currency among the public.
however, I believe that the FIAT currency will still be needed and will continue to be used even if the digital currency or crypto currency is global.

Yep, fiat currencies will be still useful in future. Electronic mediums of exchange depend on working computers and also electricity. And there is always the possibility of failure of electronic payment. So fiat will be needed for payments anyway.

[rika0223]

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.

along with the times and technological developments it is also possible that the economic system will change as well as possible fiat currencies will change physical value even the nature of the currency itself but everything cannot be ascertained

[munareal]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

[iv4n]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

tThere are 180 current currencies across the world, recognized by the United Nations, do you know how many complementary currencies there are? https://en.wikipedia.org/wiki/Complementary_currency They all coexist. Tell me about your choices when you go to pay bills.
Fiat currencies are already a thing of the past. Fiat currency is used by people who wish to stay anonymous, soon even they will discover advantages of private and anonymous crypto.

[horrifiedx1]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

right, cryptocurrency will complement the fiat currency. wouldn't it be more convenient if there were many payment methods, so we could choose it, and this could facilitate the economy, because it seemed to spoil the consumers. and that makes me believe that the fiat currency will still exist

[anggi]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

tThere are 180 current currencies across the world, recognized by the United Nations, do you know how many complementary currencies there are? https://en.wikipedia.org/wiki/Complementary_currency They all coexist. Tell me about your choices when you go to pay bills.
Fiat currencies are already a thing of the past. Fiat currency is used by people who wish to stay anonymous, soon even they will discover advantages of private and anonymous crypto.

well, with this, I think fiat money has become a union with the state, and this is really needed in the future. well, I'm sure in the future, fiat money will always be actually used, even now it's already seen.

[Ezenwanyi1]

It goes without saying that  the society depends largely on Fiat for the conduct of it's day to day activities.
I am sure that in the future ,fiats may not go into extinction so to say but the depends on it would not be much as obtains presently. My assumption is based on the faxt that there are still core illiterates in the society that would find carrying our transactions using cryptocurrency easy.

[Best Dreams]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

tThere are 180 current currencies across the world, recognized by the United Nations, do you know how many complementary currencies there are? https://en.wikipedia.org/wiki/Complementary_currency They all coexist. Tell me about your choices when you go to pay bills.
Fiat currencies are already a thing of the past. Fiat currency is used by people who wish to stay anonymous, soon even they will discover advantages of private and anonymous crypto.

well, with this, I think fiat money has become a union with the state, and this is really needed in the future. well, I'm sure in the future, fiat money will always be actually used, even now it's already seen.

It is only times which matters so time is passing and people are being move towards digital system as you said it was union way of payment but now people are well developed and they want new technologies to run their life in better way, digital money is better source of payment for me for people,. So with time I guess money will be no longer required.

[alroys]

In the past, before there was paper money, people were buying and selling by exchanging goods. So the term is barter, goods are exchanged with goods. Then created banknotes, and paper money became a legitimate transaction tool. Cryptocurrency has now emerged, this Cryptocurrency is present at a time when the era is increasingly modern and advanced. Cryptocurrency has many advantages over banknotes, and this Cryptocurrency can also be used by transaction tools. I am sure, in the future everyone will use Cryptocurrency, and start leaving Fiat. But the change in banknotes to this Cryptocurrency still takes a long time.

[arkawa040]

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.

You say that Fiat money is not needed, but you are not quite right, any Fiat currency is supported by either useful resources or the in gold, and the cryptocurrency is supported by Fiat money. There will always be Fiat money and they are very necessary for both the person and the economy, so do not jump to conclusions, we use Fiat money every day and this system will not go anywhere.

[tarable]

of course, because not all countries want to eliminate their paper currency for the sake of new digital currencies. so the future of the paper money will be bright and still be used by all countries

[onrise]

of course it will still be useful for some people in this world, not everyone can accept technological developments quickly, facilities, how to transact requires a very long time. maybe even digital currencies cannot be used as a whole by everyone in the world.

It is true that it will continue to exists as many countries have still left undecided if they want to make it legal or not. Also some of them have banned it. So in such countries still fiat will be used and also not all countries have so well infrastructure where the electricity and laptop would have reached in many rural areas too.

[iv4n]

Fiat currency is still needed in our world. I believe the two currencies can coexist to serve humanity. There are things we need that will be convenient to use fiat currencies than crypto coins to make purchases. It should be our choice to use any of the two currencies

tThere are 180 current currencies across the world, recognized by the United Nations, do you know how many complementary currencies there are? https://en.wikipedia.org/wiki/Complementary_currency They all coexist. Tell me about your choices when you go to pay bills.
Fiat currencies are already a thing of the past. Fiat currency is used by people who wish to stay anonymous, soon even they will discover advantages of private and anonymous crypto.

well, with this, I think fiat money has become a union with the state, and this is really needed in the future. well, I'm sure in the future, fiat money will always be actually used, even now it's already seen.

It is only times which matters so time is passing and people are being move towards digital system as you said it was union way of payment but now people are well developed and they want new technologies to run their life in better way, digital money is better source of payment for me for people,. So with time I guess money will be no longer required.

To clear things, this union is the union of politicians and banks, with only one purpose, to make rich people richer, while poor people staying slaves to that union. We need to change that system where just this union have a vote that affect each of our lives. I wish every person to have a vote in important matters, not just to vote one time in 4 years and then "union" to do what ever they like, NO! That needs to be stopped, each of us deserve to have a vote and to be introduced with everything that government is doing. Blockchain can provide that! Imagine that! And the end of fiat is near, time is ticking! They will fight, they will try to tax it, to control it, to make new one, but we need to support decentralization! It`s the only thing that can save this planet from greedy "union"!

[zee11225]

of course it will still be useful for some people in this world, not everyone can accept technological developments quickly, facilities, how to transact requires a very long time. maybe even digital currencies cannot be used as a whole by everyone in the world.

Paper money is still used until one day the world is 100% digital, where land for planting trees is not available as raw material for paper money, maybe paper money is not produced anymore and people use digital money.
But such a possibility is very far away, so it makes the most sense now that paper money is used with digital money, so that people can choose which one they like the most.

[breathlessz]

of course it will still be useful for some people in this world, not everyone can accept technological developments quickly, facilities, how to transact requires a very long time. maybe even digital currencies cannot be used as a whole by everyone in the world.

It is true that it will continue to exists as many countries have still left undecided if they want to make it legal or not. Also some of them have banned it. So in such countries still fiat will be used and also not all countries have so well infrastructure where the electricity and laptop would have reached in many rural areas too.

hard to replace fiat currency. I think it takes a long time and changes in regulations. but not for now, bitcoin is currently still the pros and cons of many countries, so it requires adaptation first

[SCheek]

I foresee a word with state crypto-currency so a GBP-BTC a USD-BTC etc. They will have some monetary power.

[Tylev]

Common currency will exist almost always. In any case, as long as there will be different states. Each state is forced to have its own national money to develop its economy. By its nature, a decentralized cryptocurrency cannot replace the national money of states. Cryptocurrency can only go in parallel with the national money of the state and then, as an auxiliary means of payment.

[Juse14]

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.

[breathlessz]

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.

as long as the government still allows fiat to be used in transactions, fiat is still feasible to use as a transaction tool. so that the government holds control for it, and we inevitably have to obey it