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

[Stavri]

i think fiat will always be needed for the people. because there will be always ones that prefer the traditional ways. but ofcourse the popularity of using cash will be so low comparing with nowadays.

[ulhaq]

We know bartering doesnt work anymore and that is why fiat was created.

This is totally false; fiat had nothing to do with, and was not created, for a superior alternative to barter. If you look at the history of money, commodities were used for thousands of years before fiat.

[etherixdevs]

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.

I think that governments will create their blockchain and so each currency will be transformed in digital currency. So instead of Usd we will have Usd coin for Us dollar... or something like that. Blockchain grants right now a higher level of safeness. But in the future with quantm computer ( 30-40 years) things will change a little bit, but probably also any actual crypto algo will change as well..

[Adriano2010]

Well i think in future maybe governments will create own crypto currency and most of people will use it, i think they will create maybe a coins like Nano which don't need miners to confirm and they will see how much coins are sent and when.

[nimiq.cafe]

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.

People stopped bartering long before fiat was even invented. Fiat is just scriptural money, people used precious metal for thousands of years.

[Ozero]

The need for paper money will always exist. They remain the simplest and most convenient means of payment, especially for quick and small purchases. Non-cash forms of payment, including cryptocurrency, will develop further. however, they are not suitable for use in all cases. We should not look for universal means of payment. Let them work together. Paper money will always have its niche among the new means of payment.

[Cherylstar86]

The need for paper money will always exist. They remain the simplest and most convenient means of payment, especially for quick and small purchases. Non-cash forms of payment, including cryptocurrency, will develop further. however, they are not suitable for use in all cases. We should not look for universal means of payment. Let them work together. Paper money will always have its niche among the new means of payment.

  Precisely, I think the two are compatible to work on its own individual way. Looking forward the fundamentals of cryptocurrency will difinitely give particular formation to develope its growth accommodatingly and fiat gives conveniency in a quick payments. So, I believe the two aspect will generate our necessities in separate ways.

[Argoo]

National money is an essential attribute of every state. Therefore, the national currency will always exist. If the state abandons its national money, it will also lose its statehood.
Paper money of the states is one of the types of national money. Their walk in theory may be abolished, but this will not happen soon, if at all.

[emmybd]

To be frank, fiat will not be necessary in future, but the governments would keep it alive, as they want to keep the financial matters in their control and fiat is the best medium to do it.

[etherixdevs]

To be frank, fiat will not be necessary in future, but the governments would keep it alive, as they want to keep the financial matters in their control and fiat is the best medium to do it.

Fiat will resist but will be converted in digital coins to increase safety. But they will be centralized right now. Only better for governments.

[slocker]

In some point we dont need fiat. but again there are countries that really only on fiat. Its ok for most developed countries to have converted to not using fiat at all but still large amount of countries will be relaying on fiat for every day usage. We have good starting point on this but we may not see this in our life to see it. Mostly I mean to see someday payment in crypto for slice of pizza or a burger.

[CASTIEL05]

Today, its vague to determine how far the modernization would take around the earth. I can't actually imagine the absence of fiat as our medium of exchange. Funny to think how we can we give a beggar just a small money from our pocket.

[CARrency]

Everything will change and we are also included in these changes. While our technology is improving and getting more developed, our world will adapt to these technologies and use them to make their countries move with the future. I don't know what will happen  but all I know is that fiat currencies will still be there but the thing is that the technology will be so advance in the future that the fiat we usually know will be the same as the technology as the movie "In Time" but not that we will die if we don't have life but with the same currency and transactions. Just imagine how fascinating is that but still, it is necessary for a country to have a fiat. There will just be a development to it according to the technologies being made.

[trickyriky]

Today, its vague to determine how far the modernization would take around the earth. I can't actually imagine the absence of fiat as our medium of exchange. Funny to think how we can we give a beggar just a small money from our pocket.

It is not funny. People live according to their own "picture" of the world, although, logically, this world can offer similar things to each one. Still, most of the guys do not even care about cryptocurrencies.

[blockchainwriters]

Market may turn digital currency and use crypto currencies for large extent but fiat currency cash will be demand and necessity will be there in future both the developments are equally important in the economy

[etherixdevs]

Probably Fiat currencies will turn in cryptocurrency. But Government will have 100% control. Smart contract could be used to decide to add total coin number in case of deflaction and currencies will be much safer and without fakes.

[anggi]

Probably Fiat currencies will turn in cryptocurrency. But Government will have 100% control. Smart contract could be used to decide to add total coin number in case of deflaction and currencies will be much safer and without fakes.

Well, fiat will still be needed, moreover at this time the value of each fiat in a country is different. as long as the world still has scattered countries, I think fiat will always be there and needed. this is also to distinguish a country from other countries.

[Barbut]

Turn around, fiat is not necessary even now. Some people dont use cash for a long time, everything is on cards of some sort. In some countries that are opened to cryptocurrencies people dont use cards at all, or any form of fiat, they do almost everything with crypto.
Technology is making huge steps in short time, future is already here for some people, some of us will need to wait, but it will spread to entire world.

[Hemady17]

Fiat currency cannot easily be abolished in our economy. Although, the rapid advancement of technology can't be denied we still need a fiat in order to balance our economy. I think integration of cryptocurrency in economy will not change the fiat currency. They can use crypto in other aspects in terms of payment through online market, investment, savings etc. How about small businesses? You can pay them via bitcoin but they cannot change you through btc also. Small or large businesses are needed in our economy.

[princeyeboah]

Fiat will continue to be necessary in the sense that it has gained the legal backing of the governments and its value has now become on of the fundamental factors for determining the economic status of a country. Both fiat and cryptocurrency have their unique advantages and once they coexist, there will be much improved financial activities of the people.