It is almost 1 year since the creation of this thread and the speculations had found it right. Could I think that the pandemic helping with the transition? Sound just a big coincidence but obviously, it was a reason why we have these changes and people had to take this opportunity as well as we care about our health. Yes, it wasn't already in the full phase of the transition but seeing a continuous development will help to get into the higher level of adoption.
Who would have thought 1 year ago how 2020 is going to be, no one thought about a global pandemic like corona. I think the pandemic had a huge influence on digitial banking. People are more scared to be infected with the virus and try to avoid physical contact wherever possible. Everyone has a mobile phone and a credit card these days. There is no problem anymore with contactless payments in stores and supermarkets. We can pay either with the phone or the card, no need anymore for cash. Digital Banking is the future for our generations.
Sooner, fiat will be considered less important than these cards and phones. It is likely we are making fiat to vanish in the future as the adoptions keep.
Digital innovation makes people become productive but it makes us lazy as well. We don't need to go outside to buy food, stuff, we mostly acquiring online services that its influence for the next generation changing their lifestyle in the most convenient and easy life. We'll appreciate that changes and this digital transformation make so perfect in this internet era.