Deutsche Bank said Crypto will Replace Fiat Currencies by 2030! Really Possible?

[mirrasel]

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. 

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? 

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

[Javi_Anibarro]

I am not an expert in this area, but here is my opinion: It is more like the demand for the digital currency will rise because of digitalization, a new era will bring a new system. In 2030, we are expecting a modern civilization. Virtual reality will be a common thing and because of that, we need a payment system that we can use digitally and easy to use. The real challenge for adoption is lack of knowledge from the users and complexity, cryptocurrency is not ready yet to be implemented in real life because of this.

[alyssa85]

Digital currency /= cryptocurrency.

Digital payments include things like Faster Payments in the UK (where money is sent instantly), or country coins controlled by the central bank.

The Deutsche Bank prediction is just a rehash of the old "cash will become obsolete" thing that everyone has been predicting for decades.

In order for cryptocurrency to dominate, there needs to be a big eco-system around it, and that has stalled since 2018. Hopefully next year will see improvements in that space.

[Baby Dragon]

I am not an expert in this area, but here is my opinion: It is more like the demand for the digital currency will rise because of digitalization, a new era will bring a new system. In 2030, we are expecting a modern civilization. Virtual reality will be a common thing and because of that, we need a payment system that we can use digitally and easy to use. The real challenge for adoption is lack of knowledge from the users and complexity, cryptocurrency is not ready yet to be implemented in real life because of this.

Indeed, particularly those people who live in rural areas because some of them does not even know that a digital currency existed. It can be the reason why the adoption is going to be difficult since those people does not even familiar with anything related in technology but I know that as times passes by someone will enlighten them about cryptocurrency or they can encounter it themselves. A decade is not enough because there are a lot of things that we need to consider and there will be some possible problems especially to the government.

[cryp24x]

10 years?

I doubt it. Now that Cryptocurrency have the difficulty in spreading the good news all over the world due to negative feedbacks. I guess 10 years is not enough to do the adaptation of all to Digital Currency. I am sure that there will be lots of debate and oppositions to Crypto, but I am still hoping that the acceptance to Crypto would show great possibility.

[duuuuude]

On the one hand, the transition completely to digital currency is progress but on the other hand, it is a huge springboard for government manipulation because it is obvious that the further we digitize, the more restrictions are placed on personal life. This is not in all cases but mostly.

[asriloni]

Cash will not be used again in the future and that may become a sense statement but about the crypto will fully replace fiat and that makes me feel doubt because till this time it's not clear whether crypto can be adopted by the countries.
In the article has already stated if those banks are currently developing the digital currency. it's very similar as a payment that used USD balance to a transaction.
I'm not even seeing crypto already mentioned in the last part of the article.
if we will see crypto will be accepted in a few years later and that prediction may possible. But if we will not see that and I thought we should not expect crypto to replace fiat in the future.

[Gotumoot]

I've read these thread several times, crypto currency will replace fiat in the future blah blah ..

But how can crypto replace fiat?
First of all government acceptance and adoption, it can be.
Second is people's awareness, but not all will agree to use crypto and removed fiat in circulation.
Third, Everyone needs to know how to use a smart phone, have their own internet, have their own pc. That I think its hard to accomplish.

[bittraffic]

It took decades for the internet dotcom to be adopted world wide and now we can say its a necessity for anyone to have access to internet. 2030 is a fair year to say adoption of crypto is typically had reached the remote areas of the remote regions. by 2030 we can already say the fair man who worked in a manufacturing company will have to spend more just to own 0.01BTC. 

Germany is now developing the government back digital currency because they are seeing the adoption is closer than what they think. A year or two from now, there will be a big changes to central banks.

[BeManga]

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. 

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? 

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

its not really impossible to happen because in 10 years there a lot of things that could happen
as of now bitcoin adoption still grow day by day and I also think that the demand of crypto will grow more in the future

[alani123]

To replace FIAT would mean to do away with government backed, central bank issued forms of money. The notions in the paper are only potential scenarios that could play out, mere ideas. Not even viable concepts that have been examined scientifically for their basis.

This is page two of the paper linked in the OP as research:

[desticy]

For me, such statements look like pure manipulation. We don’t know how the global economy will develop in 2-5 years, but someone gives forecasts as early as 2030.
Perhaps this year there will be no monetary systems or money at all. In addition, cryptocurrency has a volatility problem that is almost impossible to solve.
Do not believe in fairy tales.

[tsaroz]

Crypto solves different problems in financial world. It is an efficient and effective ways of distributing values. There are surely a resistance as the world could not just change their new habit. And there is a huge business related to fiat regulation which are resisting the crypto adoption.

[biddicoin]

Im as a cryptoenthusiast, believe with this research. everything could change to better one
and crypto is one of the thing which can replace FIAT.

In the other hand, we already knewn crypto for more than 10 years
crypto is so amazing, it is really from zero to hero. from small capitalization to big capitalization

[Experia]

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. 

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? 

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

It will not totally replace the traditional banking and fiat system because if it will happen the whole economy will change and the world are not yet ready for this specially those small businesses and small people. The challenge is the acceptance of the process among people of nations.

[jacafbiz]

One ting I know is that Fiat currencies are under threat and central banks know this. A lot happens between 2010 and now, so this coming decades is going to disrupt some Government positions. Another thing we need to understand is that millennial are getting into position of power and will help in shaping the coming future generation

[Flux0z]

Look what happend the first 10 years since BTC's inception. Another 10 years isn't a bad estimation really.

Decentralized exchanges will be the next big thing, allowing people to trade with each other with 0 trust issues against any centralized entity.

The ONLY truly Decentralized Exchange we've got right now is the Blocknet DEX. Anyone trying to convince themselves that there are any other REAL DEX's out there is simply fooling themselves, and NO Bisq, Waves, Binance, IDEX etc. isn't decentralized as they ALL lack from centralized points of failures one way or another (prove me wrong).

Over the next coming years, nodes hosting DEX's like the Blocknet DEX will make a boat load of money doing so, competition is on the way, there's no question about that.
The banks will lose this battle, the people will win.  

[notthematrix]

I don't see anything like this happening before a century.

Something close to E-corp in Mr.Robot seems doable, a company creating their own bitcoin to become the most used official and approved crypto currency.

[coin-investor]

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. 

What do you think as a Crypto Expert? What are the challenges? What things should be adopted to replace fiat? 

Research: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF
News Source: https://cointelegraph.com/news/deutsche-bank-research-crypto-to-replace-fiat-currencies-by-2030

The big question is are all the people on this planet are educated enough about Cryptocurrency or every country on this planet are then high in technology that they can able to transact Bitcoin anywhere they are at the time they want to transact, if we are ready by then, then it's possible.

[Peanyut991]

As a crypto community, we are certainly not surprised by news like this. We already believe that crypto is a currency that is more efficient, secure, not easily damaged than fiat. We just need to wait for the time for the fiat currency to end and crypto will replace it.