In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.
Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.Source link hereOkay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.
Earlier, Bloomberg predicts that
Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.
It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.
Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts.
As much as bitcoins are making such progress in the past years and so many reports have said that many people already rely on technology to pay for their goods, I don’t think bitcoins will “fully” replace fiat. For one, not many countries in the world are equipped in terms of advancement in technology. Third world countries for example, although the majority of them have touch screen phones, they are only able to use it for simple communication and little bit of entertainment. Even if these countries have access to touch screen phones, not all of them have it because their priority is to be able to get by everyday. Sometimes, having a touch screen phone is the least of their problems. Second, third world countries are more comfortable with using fiat as many of their transactions involve stores that don’t even cater to online payments. Stores along the streets, mini grocery stores, public transportation, etc. etc.