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

[Best Dreams]

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.

4 to 5 decades is a long time for the transform of fiat currency into crypto currencies. It may take maximum 10 years in which we can shift from fiat to crypto. Once the crypto currencies become popular, the education and hardware will not be hindrance anymore.

National money of the states will not disappear neither in a hundred, nor in two hundred years. Don't be so naive. As long as there are different states with different conflicting interests and there will be economic, political and military conflicts in the world, until then every state will have its own currency. So it was, is and always will be. If you believe that in a few decades world peace will come, which has not yet existed on the planet since the appearance of the first human civilization, then this is a very bold and stupid statement.

I agree, I think some of our successors will still get fiat currency, and are still feasible to use. I think crypto will only be a complement to fiat currencies, as an alternative means of payment

But still I know crypto currency will have more importance ad value as compare fiat, for people crypto currency is much better for safe and reliable future, fiat is only to be use to the store which has no internet access but now almost everywhere we will be able to get the facility to operate crypto currency for buying anything, anywhere.

[Chikitita2004]

I always think that fiat will always be relevant even in the future no matter how much cryptocurrencies will rise in the future. There are a lot of areas in our daily lives that that need physical money and cryptocurrency is not applicable, like when you wanna give a tip to a waiter when you eat in a restaurant, retail stores that are not too advanced, dropping coins to a game machine, wet market goods that can only be paid in physical money and a lot more.

[Snaic]

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.

The national cash and non-cash money of the states will not disappear anywhere. They were and will remain mandatory attributes of each state. Cryptocurrency can not significantly affect this type of financial relations in society. Cryptocurrency can only go in parallel with the national currencies of the states. So it will exist for a long time, until the only superstate or alliance of states with a single economic and political government will remain on our planet. However, such examples in the history of mankind do not yet know. Therefore, we can assume that the national money of the states will always exist.

[IcoRaces]

The fiat currency is very good for the cryptocurrency market, but now the government will stop listing its own legal currency, and only if the cryptocurrency market expands its influence, the government will consider issuing legal tender.

[Janation]

In different times fiat means different things. 2000 years ago it was coins, 400 years ago till previous century - paper and now it is bytes of information.

The fiat system changed but it is still the same.

Fiat doesn't mean paper or coins, it is the money we are using. I would agree with this if you said that the fiat system is developing, from silver and gold coins to papers and cards we are using today. Fiat for me will never be a cryptocurrency since we all know how cryptos works and I don't think the government will just let the investors control them.

[mersal]

Without the normal currencies for every country the people who are uneducated will be struggled so that situation will be made by the government will not been possible but the future when and there is everyone educating there will be the possibilities of only digital currencies is possible otherwise it will continue to stay every time in this world.

[fianaindriati]

of course the fiat currency will be needed at any time. because the fiat currency is needed in transactions that are close enough. then fiat money will certainly be used. so we must believe that the fiat currency will always grow.

[playboy654]

Without the presence of Fiat currencies we cannot been moving with good scenery because everyone don't know about the technology so show both cryptocurrencies and also normal currency are important in any type of situation especially in the future both are included only defeated be good.

[Falgorn]

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.

Fiat state currency will never disappear. There will always be a need for cash and non-cash currency both within and outside each state. A decentralized cryptocurrency cannot be recognized as the main currency in any state. cryptocurrency is not capable by its nature, since it has no relationship with the economy of any state. technologically advanced and high-income countries may still try to get rid of their cash. However, in general, no state will ever give up its national money, since money is an essential attribute of each state.

[Sanitough]

Without the presence of Fiat currencies we cannot been moving with good scenery because everyone don't know about the technology so show both cryptocurrencies and also normal currency are important in any type of situation especially in the future both are included only defeated be good.

Fiat will serve the people who are not potential in using crypto.
It's not everyone has the potential, some does not understand the system and the fact it's online, it's complicated for some that are not educated with this. To make this world better, it should have different option, and both can grow and satisfy users, so nothing should be change.

[reality18]

Cryptocurrency is already used in this world. There are many stores online like overstock.com, Newsegg, Shopify stores etc which accept cryptocurrency as form of payment. Checking the annual crypto adoption statistics, it is apparent that cryptocurrency will be largely used in the future due to the gradual increase in its adoption.

[breathlessz]

Cryptocurrency is already used in this world. There are many stores online like overstock.com, Newsegg, Shopify stores etc which accept cryptocurrency as form of payment. Checking the annual crypto adoption statistics, it is apparent that cryptocurrency will be largely used in the future due to the gradual increase in its adoption.

with the development of stores that facilitate payment with bitcoin, automatically of course it will propagate to other stores, especially now that Whatsapp already has its own features for BTC

[Reid]

You should look beyond what is happening at the back of each countries.
What is being hidden?
The poor. Those who live in rural places. Do we even think about them while saying NO we dont need fiat?

How can they trade their farmed goods or whatever they could just provide?
We know bartering doesnt work anymore and that is why fiat was created.
They dont have bank accounts. They dont even know what crypto currencies are. They dont have credit cards.
If there will be a change in financial system, it will an overhaul.

[conected]

Without the presence of Fiat currencies we cannot been moving with good scenery because everyone don't know about the technology so show both cryptocurrencies and also normal currency are important in any type of situation especially in the future both are included only defeated be good.

Fiat will serve the people who are not potential in using crypto.
It's not everyone has the potential, some does not understand the system and the fact it's online, it's complicated for some that are not educated with this. To make this world better, it should have different option, and both can grow and satisfy users, so nothing should be change.

- More precisely, I think fiat will serve everyone when it is always a main character and possesses a very important role in life, even for people that have the potential and education in using crypto, they will still choose fiat, only a few people will use crypto when they have no other option for payment. Because Fiat is a form of payment that has been accepted for a long time, the benefits and effects of fiat are too direct, crypto may become better but fiat does not seem to be inferior, we can still use fiat in electronic form, so the future will still have the existence of fiat, it never disappears

[Opnsrc]

I think 50 years from now, paper money can be eliminated. because that would be a useless stack, so everyone can move to transactions using crypto. and does not leave any marks.

I do not think so. People, who will never understand what the cryptocurrency is, will always exist. They will never be able to use virtual money. In some places, using crypto will be always impossible technically.

[anggracoin]

In fulfilling the daily needs of the community, they will still need exchange media such as paper money or fiat. Crypto will continue to grow in the future but that does not mean it will eliminate paper money or fiat easily. Not all people can reach crypto, as do people in rural areas who have limited internet network. The government will also not release its control from the financial sector by eliminating paper money or fiat.

[calya]

I think 50 years from now, paper money can be eliminated. because that would be a useless stack, so everyone can move to transactions using crypto. and does not leave any marks.

I do not think so. People, who will never understand what the cryptocurrency is, will always exist. They will never be able to use virtual money. In some places, using crypto will be always impossible technically.

paper money or fiat will not replaced by any currency.fiat has political value in global trade.by its value it represent how countries economic developt.as we see in forex trading, many factors influenced paper money.and if totally digital currency i am not sure how global trade will done.

[reality18]

Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.

[BigBos]

Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.

well, the need for fiat will always be there. please note that fiat is very important as a transaction tool. I agree when saying that fiat will always be needed, because nowadays, even though cryptocurrency is currently popular, however, people still depend on fiat for local transactions.

[Activitycoin]

Fiat will continue to be necessary because it has the full support of the government. The fiat currency has become the standard of measurement of the economic status of a country. Both fiat and cryptocurrency will coexist in the future to deliver their unique services to improve financial services.

well, the need for fiat will always be there. please note that fiat is very important as a transaction tool. I agree when saying that fiat will always be needed, because nowadays, even though cryptocurrency is currently popular, however, people still depend on fiat for local transactions.

However fiat was important in past but now our country has become well developed and we are living in modern age where we can do anything with crypto currency easily whatever we have been doing with fiat, so I think it is now optional if the people of my country use fiat or only crypto but I am sure there is no need for fiat now.