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

[tenakha]

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? 

I guess it will be at least after 2030. So it must be. Because we can all see how fast robotization and technology have developed in recent years and this will accelerate in time. And it will be impossible for current paper money to keep up with this technology. We need a faster and more technological payment system as a crypto.

Indeed, if they do not oppose the crypto, it will be enough for adoption. There is no doubt, if they start to use it slowly in society, they will see how good it is than the old system.

[Twinkledoe]

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? 

I guess it will be at least after 2030. So it must be. Because we can all see how fast robotization and technology have developed in recent years and this will accelerate in time. And it will be impossible for current paper money to keep up with this technology. We need a faster and more technological payment system as a crypto.

Indeed, if they do not oppose the crypto, it will be enough for adoption. There is no doubt, if they start to use it slowly in society, they will see how good it is than the old system.

Though it is a long way to go, but a lot of things will happen that will make it possible. But I still think, fiat currency will always be there in some areas. 10 years is not enough to convert a lot to crypto users. But that's a good perspective coming from them. It means, they are open to the benefits that crypto or blockchain tech is offering to the industry.

[efxtrader]

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

I am not an expert but in my opinion cryptocurrency in question remains controlled by the central bank. Maybe there are some altcoins that can be used as payment at merchants but in my opinion not all altcoins because only a few altcoins are seen as acceptable to many people as a means of payment

[henmark]

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

Yep, cryptocurrency will likely take over, but don't be too excited. The cryptocurrency they are talking about is not going to be a decentralized cryptocurrency like the ones you know right now, nah, they are going to be just like digital currencies. Unlike Bitcoin and other decentralized coins, they are going to be centralized and will be regulated by the law, so there is really no difference, it's still the same. The only changes they are going to bring is that they are going to make our transactions faster and cheaper, I guess. There is possibly going to be other changes that will come with it, till then let's wait and see.

[Rodeo02]

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.

yes we all know that it will happen soon , the main question is what crypto it is ? Are they going to maje new crypot currency or they will use the old crypto that available in the market already.

[nicecrypto]

I have come across the news and i feel this is another good news over cryptocurrency and the ecosystem, even this can take effect in the long run but it is still refreshing to know the direction crypto is going in the near future, unlike what some critics will be saying about crypto coming to an end whenever there is a small dip in price. This means the future of crypto is bright after all.

[Nivia1st]

if seen from the development of crypto today, it might happen. because some countries have begun to show interest. and only a matter of time for other countries to follow. from the very beginning if the government wasn't too afraid of crypto, maybe crypto replacing Fiat would happen faster.

[wxa7115]

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

This is not your fault but the title that they choose for that article is completely clickbait because that is not what the article says, the article is just stating that digital currencies are going to take over the world but at no point it says that they are going to replace fiat currencies, fiat currencies are still going to be in place and it is completely possible that governments are going to choose to create their own cryptocurrencies that are centralized.

So decentralized currencies are not going to really replace anything at least according to this prediction, but it doesn't matter we know that a cryptocurrency like bitcoin is going to become a success regardless of what any government thinks.

[iv4n]

When I see some topic like this one is, I remember how unique this forum actually is! Believe it, or not, on this forum people talked about fiat replacing fiat before 2015! I'm here from that year, and I remember reading what people wrote before me, and even I commented similar topic.
Once again we have a confirmation from a huge fiat institution, some of us believed in this before Deutsche bank statement, but its nice to hear it anyway!

[ATSgrowth]

Fiat currencies are not good for global economy, thanks to internet we live in a global world, more and more people do not care about borders, they are travelling, shopping around the world, but they use money that are not global, not suitable for today´s world.
Are cryptocurrencies good for global world? Maybe. 

[sorrros]

Cool to see that the second largest europe bank comes with this prediction. But what´s their solution? New digital coin created by Deutsche bank? Something like China created, hope that not. No more centralized stable coins controlled by goverment (big company)!

[ganeshramk]

Most people in crypto wants this statement to be true and don't want to wait until 2030. But to acheive that status, crypto needs to cross lots and lots of hurdles. Its not going to be an easy task.

[starblocks]

It is entirely possible, but this will depend mainly on adoption rates and a key indicator of this will be how fast Facebook's and other major brands cryptocurrency projects like Telegram catch on and this probably won't occur overnight so its still a little too early to predict anything like this happening for certainty

[nicolas1979]

Everything is possible, government will take any change to take control about financial instrument and they use bank for this purposes. I'm not happy with that news because will happen in 2030 and maybe another country will try it first. I believe they use Fiat at the first time and when running in several they will change it with another " legal " financial instrument from government it self.

[albrots]

Crypto replaces fiat currency is very difficult, because the two digital currencies have different properties. Cryptocurrency has a high volatility while Fiat is a stable coin whose price follows the USD exchange rate.
Cryptocurrency may only accompany FIAT and will not be able to match Fiat or exceed it.

[Linkkoin]

Crypto replaces fiat currency is very difficult, because the two digital currencies have different properties. Cryptocurrency has a high volatility while Fiat is a stable coin whose price follows the USD exchange rate.
Cryptocurrency may only accompany FIAT and will not be able to match Fiat or exceed it.

anyway in Europe we can see that there is a pressure for the removal of physical currency in general, as banknotes can be used for money laundering. First, there had been established cash limit for all transactions, in some countries they literally stopped minting coins with least value (and there is no change given back!), now in Greece they introduced legislation making obligatory for you to make payments by card/bank transfer for at least 30% of your monthly salary.

It is very likely that there will be introduced in the next couple of years a new class of cryptocurrencies - state-issued stable coins related to the national currency.

[mirrasel]

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.

Hope education and awareness will rise rapidly in the next years.

[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

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.

I think the people on this planet are not educated enough yet about Cryptocurrency! We all should raise awareness about the cryptos, blockchain and as well as bitcoin.

[cabron]

10 years is fairly a good estimation that adoption will really make it to every people in the planet. We have been evolving since the time Internet were introduce to the people, the internet already give us more freedom that social media can now be used in political battle. Took decades to populate the www.

Blockchain will gives us more power thru cryptocurrency and digital currencies will give access to everyone on blockchain thus adoption.

[bigcash2011]

I think it is just a matter of govt clearance and awareness and lastly ease of use that will make crypto adoption a reality and i think this will be realized around 2025 and after that the process will speed up.