Will Cryptocurrency change financial institutions completely?

[yulionoo]

Get rid of all the cash?
Probably sometime, but this is still a long way ... of course, this is not only our (user) goal  but also (probably even much more) governments, because cash still remains the most difficult way payment to track down...
However I think needs very long time and saying that I do not think about years but rather about decades ...

yes i agree with you getting rid of fiat money sounds easy but i think it will be quite difficult to implement. because fiat money has been used for a long time by the community and until now fiat money remains a means of payment. even though most countries have started to adopt blockchain and cryptocurrency not means that fiat currencies will disappear. it might take quite a long time for people to be ready to use cryptocurrency.

[1715234064]

1715234064

[1715234064]

1715234064

[boltz]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

Pure speculation in my opinion. You shouldn't believe what a single dev is saying just because he heard some rumors. Cash won't be abolish but in time cryptocurrencies ( if they reach the point when you can rely on them on absolute everything ) will take slow and steady the front of monetary system no wonder why China is building its own currency and USA is facing regulation with Libra ( the debate already began on this super-powers ).

[Boov]

I really doubt our fiat will be completely do away with, but am sure they will in gbe future be limited to local daily transactions and transactions that arr not very heavy. Cryptocurrencies will be use across borders and inter-states within country. To achieve a truely cashless society wherein transaction failure rate is kept almost at zero, we need the digital currency. We really can't continue with the gangster like style by which these economic cartels manipulate money to their advantage.

I agree, its been ages since fiat is the source and main currency of all the countries worldwide, honestly I think cryptocurrency cannot remove or takes place fiat. Cryptocurrency can only help the economy of each country, it can help people also with their daily lives, similar to dollar and local currency, dollar remittance help the country grow by converting it in local currency same as in crypto to fiat, if I am not mistaken to this one.

[cutesgirl]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

Cryptocurrency will change institution where bitcoin and altcoin become only one currency have transparent data for each transaction, every payment history of bitcoin and altcoin could check and companies or government using bitcoin and altcoin as transaction payment will know detail about their transaction, they will easy to know where is their money sending and how much bitcoin receiving in their wallet with correct transaction history.

[Magkirap]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

I think its just their personal opinion and ideology not exactly decided by those countries. Eliminating fiat money in a country was hard to di and takes a long time before emplementing. In addition, there are a lot of countries on that contenents fully accepted bitcoin or not even know about cryptos. Maybe this was possible but not today, maybe years ahead.

[Youghoor]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

First and foremost, it will be nearly impossible to get rid of cash completely. Cryptocurrency has a good potential of improving the entire global economy but for the adoption of it might take a very long time for the entire world to accept the use of it. The online nature of cryptocurrency makes mass adoption very slow. Personally, I think crypto developers should find a way they can integrate both cryptocurrency and cash together to further enhance the massive use of cryptocurrency in the financial ecosystem. With that, there can be some possibilities of getting rid of cash  completely.