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

[Gheka]

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.

Fiat will always be used from now, even to the future and more because it really gets the trust of users, every user believes and uses it in a comfortable and popular way, and behind the fiat, it always has a very strong source of support, it is the government, they always bring the best conditions for fiat to be able to maintain and fit in people's lives. And although fiat may be more outdated in the future, but I can't deny what you say, we and the government will automatically upgrade it to suit that era, fiat has always been indispensable, it has been a part of everything

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[babysweetTiger0401]

As of now Fiat was very useful and it has been used for a thousand years. So, none of us in our generation would say accurately the right answer for it. Though, there are some saying that Fiat in the future will be gone away or disappear. And if I am going to explain what is written in the revelation in the bible were in the " Last day money will no longer be useful ".

[trader34]

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.

Yes, I agree. Probably in the future cryptocurrencies will be used in conjunction with fiat money. It's difficult to imagine at the moment a world without fiat money, but you'll never know!

[Tagus45]

I think fiat currencies are difficult to lose and more likely to survive because they were created by the government, and people will still need fiat as a means of payment.

[Irvinn]

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.

The transition to the full use of cryptocurrency will be possible when all states unite into a single state on planet Earth. If there are states with different economic and political interests, then they will have their own national money. And since there has never been a universal prosperity and consistency of actions of all states on Earth, it is useless to dream of a universal transition to cryptocurrency. This will never happen. And the cryptocurrency itself was created only as an alternative payment system to the currently existing payment systems.

[darefreads]

I believe the fiat still have a big role to play in the investors because some of the currency holder still use to buy things in rural places. And I think fiat probably won't get erase like some part of my country, government still needs to provide a better electricity and internet connection to use by people who are in a far areas.

[Budugbass]

Fiat is a strong currency and is a provision in the economic system which in my opinion wouldn't replaced ever even though many new things have emerged, it's one of the important things and has become a characteristic as well as has become a permanent thing I guess.

Human life can indeed be more modern than before, but nevertheless, fiat will not be replaced even disappear. well even though there are not many reasons that I can convince it, but I really believe and can ensure that it is the most priority thing by the Countries.

[cahbagus555]

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.

Perhaps paper money will reduced a lot but will transform to digital currenty. It still fiat money because controlled by central banks and fiat money still needed to boost economic growth

[goaldigger]

With this consistent changes and upgrades to our life, i dont think fiat will have a role in this. Its obvious that modern society are highly automated and technological advancements are everywhere. I know there will come a time that even poor people have some devices to transact with. The government will know what to do.

[bangkit tri]

With this consistent changes and upgrades to our life, i dont think fiat will have a role in this. Its obvious that modern society are highly automated and technological advancements are everywhere. I know there will come a time that even poor people have some devices to transact with. The government will know what to do.

looking at effectiveness, of course tomorrow people will turn to practical ways. but for evolution in that direction I think it still takes a long time, and dependence on fiat is certain. currently the best target is crypto payment facilities

[TheCoinGrabber]

I think the future would end up being more like China were everyone uses fiat, just not in a physical form. This is the most advantageous scenario for governments, since they can snoop at all your transactions or outright ban freeze your accounts. With only digital fiat, they have greater control.

[@prashant]

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.

[mrdeposit]

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.

Do you think it could be possible to move from fiat to digital money in 4 or 5 year? First off, humanity and economy should ready for it. We need more years than you predict and during this time adoption will improve slowly. Do not think someone can run away from this, eveybody will have to use crypto when the time comes.

[slocker]

This could be hard question to answer cuz money is essential for everything. Interesting is what can be some pointers on this topic. If we look how many countries uses cash on daily bases, then we will have long time before money becomes obsolete, only handful of countries dont use cash on daily base they use card and mobile phones payment system. On other hand paper money wont completely disappear any time in the near future. True that we have more electronic transactions that have become more and more common and this trend will not continue. Thing with paper money is this that in all countries is back up with gold. Someday we wont have paper money that is true but interesting could be what will happen then in that point.

[Dessy88]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

the legality for crypto currencies that can make the paper currency impossible can occur without anyone knowing about future economic developments, maybe the paper or fiat currency will be replaced with digital currency

[romero121]

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.

The entire world is moving towards technology advancement, but the same hasn't left the traditional system that we've been using for the long. Fiat currency usage will always serve as the primary solution for all the needs around the world. Bitcoin and other cryptocurrencies in usage will serve as the alternate to the fiat system.

[jabrix]

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.

Fiat currency will still be there because practically and all ages with zero education levels can still use it. 3 year olds can use to pay for sweets or ice cream.
You can imagine if there is no paper money, how do 3-year-olds make transactions? Of course you can't.
Therefore fiat money with digital money in time will be used together, and the community is free to choose the most comfortable one.

[Wellyan]

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future

with increasingly modern times and increasingly sophisticated technological advancements, of course, everything that is practically efficient is needed, and of course, it is fast and it is also possible that the fiat currency will change shape and how to use digital currency and that it is in crypto

[devinks]

if in my opinion, at any time the paper currency will definitely still be used even though the digital currency has been legalized by countries in the world. because the government will never get rid of their real currency someday

[Anies_Sandi]

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.

Do you think it could be possible to move from fiat to digital money in 4 or 5 year? First off, humanity and economy should ready for it. We need more years than you predict and during this time adoption will improve slowly. Do not think someone can run away from this, eveybody will have to use crypto when the time comes.

really because in the near future people will not be able to use crypto for every day, because it takes a long time to use digital currency but not to use paper currency it will not work because the government will not let its currency be shifted with its eyes new digital money