ECONOMIC ANALYSIS/RESEARCH POLL: Cryptocurrency replacing fiat in the future?

[markdario112616]

I'd based my answer in the current situations, I choose "NO". Why? It is indeed that the modern or the advancing of technology is literally booming, in which these cryptos are part of it, unlike fiats which are currently accepted worldwide, cryptos are still a niche part of the global economy, in which a Government cannot totally regulate the use of it, like the Fiats.

Though, In a parallel world, both can function the same way, nonetheless both have it's own advantages and disadvantages. But still, It cannot replace the Fiat and it's system.

[Blossom15]

It might take some time, but I expect crypto-currencies to overhaul FIAT in the long run. It might not be crypto as we know them now, however, cash is already becoming obsolete even if it is the most widely used. With more computer literacy, it will die out.

[MostafaGamal]

This is due to the strength of people in change, and I believe that the government is the strongest so you will create a special coin in order to benefit from the new technology and be controlled.

[Senzacervello]

I have voted for "both in parallel" for several reasons. I can't imagine any government willing to give up to monetary control as it is one of the basis of political power. To lose control on money production and circulation would mean to lose control on fiscal policy as well. A whole replacement would necessarily bring a complete redesign of the current political structure and organization.

Nevertheless, individuals will not stop to use Cryptocurrencies, and maybe they will use more than today, especially if they will start to be more widely accepted for regular transactions. This will probably happen because the demand for payments in cryptos will very likely increase.

In short, my two cents

[yusupjatigumilar]

Hello,

as part of an ongoing academic research, I have created a public survey to see how members in the crypto-community think about the future impacts of decentralized blockchain cryptocurrencies. I kindly ask you to vote on the poll in order to assist me in this research. Feel free to add a comment on why you think your chosen option is correct

Thank you very much in advance and have a wonderful day!

Kind regards,
Zeroxal

I think this is indeed not impossible to happen but certainly there will be many processes that must be passed if the crypto currency will replace the fiat currency, as we all know that many countries still consider that the crypto currency is illegal if used as a tool transactions, it is a difficult challenge if the crypto currency will replace fiat currency, must first build good trust from the government and society

[eroejoe]

Hello,

as part of an ongoing academic research, I have created a public survey to see how members in the crypto-community think about the future impacts of decentralized blockchain cryptocurrencies. I kindly ask you to vote on the poll in order to assist me in this research. Feel free to add a comment on why you think your chosen option is correct

Thank you very much in advance and have a wonderful day!

Kind regards,
Zeroxal

I am glad that you choose to do academic research on this topic, best wishes in regarding research.
I vote for both will work in parallel, because I think that model could be easiest to put in work right now.

[niceboy999]

Governments will only use blockchain technology to support certain processes within their current system

[tactac]

I think that the government wishes to issue centrised cryptocurrency to track the transactions of our money. It will prevent tax evasion and crime, but we will continue to be monitored by the government. The only good thing is that it is impossible for politicians to receive bribes.

[makoitus]

I voted for "Both will be working in parallel" , because I don't think the government will allow that to happen wherein cryptocurrencies will be replacing fiat money. Cryptocurrencies will just continue to exist and work together with fiat money.

[otandelapaz]

Governments will not allow something they cannot fully control to run their economy. Even businesses will not submit to something they do not fully understand and manipulate.

[timerland]

I think that the most likely scenario is that both will indeed work in parallel.

While governments may not directly endorse bitcoin and other decentralized cryptocurrencies, I can see that in the future more adoption would mean that bitcoin could realistically become a medium of exchange for online activities in particular, potentially serving a niche of people who need to facilitate global online transactions as well as people seeking a safe haven to store wealth in the long run. It is still far fetched to say that it's going to replace all fiat globally at this stage.

Also, with the development of national blockchains that are centralized and controlled by the government, the last option is possible as well. However, I don't think this brings any value to people as it would be pretty much the same as online banking right now, except using blockchain technology.

[Crypto4091]

I think that both will work in parallel.
Fiat money will be functional  as long as government and their rule on state being exits.On the other hand cryptocurrency also  puts his jaw in almost every sector of economy .So neither fiat nor crypto will die and both will work in parallel. 

[DeltaX_Slayer]

I think the people will use both, because the practicality of paper coins, to pay little things without a necessity to be connected on internet, and because some people doens't like so much of new Technologies.
Maybe in a distant future, paper coins will end.

[Thirdspace]

Voters  #118 
I casted my vote on third option, "Both will work in parallel"
I don't believe cryptocurrency will replace fiat currency in any time soon
but I hope cryptocurrency will be accepted globally as legal form of payment side by side with fiat

[gamalzour]

Crypto will not replace Fiat, there is just not enough exposure. Yes crypto is more secure but the average person will not use it on a day to day life, at least in my eyes

Or in other words, the demand for fiat is way too high and it is not going to be affected by the expansion of crypto through out the world because not all the people throughout the world have access to the technology so crypto will stay for long. In addition, a fraction of population prefers to keep cash as well because at times, when the internet is not accessible, you might need it for emergency. The problem of liquidity also matters.

[fasdorcas]

Hello,

as part of an ongoing academic research, I have created a public survey to see how members in the crypto-community think about the future impacts of decentralized blockchain cryptocurrencies. I kindly ask you to vote on the poll in order to assist me in this research. Feel free to add a comment on why you think your chosen option is correct

Thank you very much in advance and have a wonderful day!

Kind regards,
Zeroxal

Like many others here I believe there will be hand in hand situation in the future. Not right now or not anytime soon but I think the moment we can manage to get other people to join in and make shops and brick/mortar stores accept bitcoin there will be a long long period where bitcoin is just another method of paying stuff.

Think of debit cards, cash, and bitcoin right now most people use debit cards, some people use cash and cash is used only in few places because most of us either use credit or debit cards, and very very few places takes bitcoin as a payment option. Now I believe bitcoin will surpass the usage of cash and reach somewhere close to card usage, when that happens it will be the max what bitcoin can reach, it won't go any beyond that.

[nur rochid]

Crypto will not replace Fiat, there is just not enough exposure. Yes crypto is more secure but the average person will not use it on a day to day life, at least in my eyes

Or in other words, the demand for fiat is way too high and it is not going to be affected by the expansion of crypto through out the world because not all the people throughout the world have access to the technology so crypto will stay for long. In addition, a fraction of population prefers to keep cash as well because at times, when the internet is not accessible, you might need it for emergency. The problem of liquidity also matters.

both of these currencies have their respective advantages, so I think it's better to complement each other. so that no one is eliminated, like your example if there is an internet interference

[rollingstorm45]

they will be interconnected and remain dedicated in their respective markets, some countries have allowed cryptocurrency as a medium of payment, but if this wave increases they will create sustainable problems, this is all about trust. Eventually fiat will still exist and crypto only takes part in payments that connote in a regulated online business, there will be many strict rules to keep them balanced.

[perfect999]

Governments will only use blockchain technology to support certain processes within their current system

Tradition is our societies do not die with the arrival of even potential threat. A population, who knows the use of fiat and has been relying on it for decades, will no doubt show reluctance to accepting another type of technology that can possibly put a full stop to its life. So since the people who have been very easy with using this money and knows every technical trick that can possibly maximize their income would not quit the use of fiat completely and in other words, it will keep on circulating in the market.

[99Rifat99]

My vote is Yes cryptocurrencies will replace fiat.

Because now days all most all over the people use cryptocurrency. Because it is easy to use and safe. So i think Yes one day cryptocurrencies will replace the original currency.