What will happen if the all countries convert to cryptocurrency?

[South Park]

I think it's safer, faster, and the country can save on the cost of printing their own country's fiat currency. we all know that the costs a country has to spend on printing their currency are very expensive, and cryptocurrency is the solution...

Exactly. This is a hypothetical scenario that if all the countries converge to the crypto, it will bring much economic prosperity but that would indirectly mean letting go their existing wealth which no country would.

The funny thing is that governments could bring that prosperity to their people if they wanted to do it, while bitcoin is a huge step forward when it comes to the technology the truth is that most of its value comes from the simple fact that there is a very small amount of bitcoin in circulation, so if countries just adopted that attitude of not printing as much fiat as they wanted they could make their countries very prosperous.

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[daisynonwak]

We are toward the cashless society, unfortunately the one in the government's mind is the digital money not crypto currencies, crypto do give a big benefit for the users, it's very easy and convenient to use, I think a country need to regulate the crypto before trying to adopt it, the reason is because crypto is decentralised, without any balance in using fiat and crypto it can cause serious inflation to the country, if crypto being implemented correctly, it will create a better economic situation for the country

I agree, in  crypoto we have the control of our own  asset.

[acholagi]

Which cryptocurrency do you mean? if the cryptocurrency is still decentralized, of course the price will soar, but if the cryptocurrency is crypto which has been backed up by real assets such as Gold or USD, then the price of the cryptocurrency will be strong and stable at normal prices
and if it turns out the government has never adopted cryptocurrency in their lives, then the price of the cryptocurrency itself will decrease every year

[Umuoji]

It will really make a positive impact in the crypto space if all countries convert to cryptocurrency but I don't see that happening,not now and not forever.

[East2011]

I think not all countries are ready to go cashless. Remember that there are still some countries that start the war against cryptocurrency. It will take a long time before the world will use cryptocurrencies.

[Otsu]

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

I guess the only issue in using vitual money is how secured it is for a long term? I meaned, there is a lot of hackers in the internet and we don't know if the system in crypto world are safe. But if they can assured the users that it is, then it will be great to used this kind of currency as it will give convenience to the people.

[HB Wallet]

I think it would take total globalization to do so. If not, the situation will be extremely awry if each country decide to use their own blockchain. Everyone must agree to use the same cryptocurrency to use like the Euros we have here now. But there's no way that it's gonna happen though.

[LieTOme]

The moment all the countries convert to crytocurrency would be the beginning of many amazing things to happen to the world and the financial sector, the process sending and receiving funds worldwide would become very fast and easy, it would lead to growth of businesses and make life easier for citizens of the world.

I strongly agree with your opinion that you convey crypto currency created by using technological developments which will certainly be needed in the development of the era

[Panchum]

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

If all countries convert to cryptocurrencies the world will become cashless for a convenient transaction to all people.That will make easier to produce all what we want to.

[Lorence.xD]

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

There are many advantages that a cashless society can do provide once it will be widely implemented because fast and easy transactions will be made across the globe in anytime at a single moment which also makes it convenient for overseas workers to remit money to their love ones that fast. Aside from the advantages, there will be also an associated disadvantage which we will just know in the future once we are put into that situation if and only if all the countries will participate into converting from traditional into a cashless society brought by the crypto community.

[criza]

Indeed, cashless society are gradually becoming the trend due to its convenience and ease of use. Truly, cashless society has a lot of advantages, and one of those is that, it lessen the risk of theft and security of money that lies within your hands, unlike you having a cash. However, all things do also have disadvantages as much as the advantages are. One disadvantage is that, eventhough it is very convinient, still, its range of people with access to this is quite limited. Thus, not all will benefit from it. The conversion to crypotocurrency will somehow become useless. Lastly, safety and security of our money in the cryptocurrency system is still a question to raise. With the dangers and threats that the system have, we should think first a million times.

[Riddikulo]

I think it's safer, faster, and the country can save on the cost of printing their own country's fiat currency. we all know that the costs a country has to spend on printing their currency are very expensive, and cryptocurrency is the solution...

Exactly. This is a hypothetical scenario that if all the countries converge to the crypto, it will bring much economic prosperity but that would indirectly mean letting go their existing wealth which no country would.

Realistically thinking, you will understand that we will never see it. The governments will never refuse from their national currencies to convert to the cryptocurrencies. Meanwhile, they can stop to ban crypto.

[baobao2000]

One day all the countries will use cashless system. It will be take over with digital system. This isn’t a dream and I think it will happen in the future. There are many advantages cashless system, it make easy for daily life and you don’t need to bring cons with you all the time, shopping will have more fun and not worry about short of money. Paper cash can be damaged by fire and water. If cryptocurrency become the future cashless digital currency, it is handy to use, transaction is fast and it is decentralised. I am also agree the comments above about disadvantage with crypto at moment, there are too many scammer try to steal coins and it would become a big problem if it isn’t solved with correct way.

[Cosbycoin]

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

I don’t see any need for the world converting to cryptocurrency. Why exactly would they be doing that when there are lots of things that needs to be done with cash? We don’t need cryptocurrency, although I do know a lot of crypto enthusiasts here would make noise and rant and say all sort of rubbish without thinking about what might be the consequences, but I still stick to what I said, the world don’t need crypto. Everything is good as it is.

[KorakPawon]

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

When it does happen, the first major thing that is advantages for us is simplicity. When Crypto is used by world, every transaction will be easy and simple, you don't have to bring any wallet, or have to take your cash from ATM, etc. Besides, crypto is also protect your money from losing or stolen since you don't bring any wallet. So far, I don't see and disadvantages from digital money if it really used in our daily lives.

[mitchr4]

We live in the modern world everything is possibly happen, you can say that saving money on virtual wallet is safe but no there are many opportunities hackers to get all of it. More using crypto compared to cash is certainly more disadvantages like the value is volatile and all must be connected to an internet connection. Using cash certainly makes it easier for us to transact.

[South Park]

We live in the modern world everything is possibly happen, you can say that saving money on virtual wallet is safe but no there are many opportunities hackers to get all of it. More using crypto compared to cash is certainly more disadvantages like the value is volatile and all must be connected to an internet connection. Using cash certainly makes it easier for us to transact.

The value of cryptocurrencies will not be as volatile if more people had some and most of the transactions of the world were settled with cryptocurrencies and the opposite will happen to fiat as well, if less people decided to use fiat and governments found that people did not wanted to use their fiat anymore you will see a greater volatility in fiat.

[munareal]

If all countries of the world convert to cryptocurrencies transactions will be more transparent efficient and cheap. My worry is the scamming and hacking that goes on in the crypto space this is what will discourage massive usage

[maxreish]

It is such a great steps if all of the countries will totally adopt cryptocurrency and use cashless payments. But that will eradicate banks and paper money which I think will be the main disadvantage if all of the country will use it. Yes, i agree that it will become an easy way for us to do payment transactions but there are many things that should be considered.

[romero121]

It is such a great steps if all of the countries will totally adopt cryptocurrency and use cashless payments. But that will eradicate banks and paper money which I think will be the main disadvantage if all of the country will use it. Yes, i agree that it will become an easy way for us to do payment transactions but there are many things that should be considered.

It can be an easy way making transactions, but this can never eliminate the use of paper money around the world. In future countries might adopt the usage of cryptocurrency having its own cryptocurrency. Cashless payments that were available apart from cryptocurrency too isn't much used by common people. This way it takes time for all countries to go full on cashless payments.