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

[romanij]

The news is of course very good but I believe in it with difficulty. If States allow cryptocurrency in their financial sector, they will lose influence on society. This means that with the help of cryptocurrency will be able to finance various dubious companies as well as it will give the opportunity to hide from taxes. For the full implementation of cryptocurrency in the public sector necessary laws that will regulate the actions of people and the turnover of cryptocurrency. Otherwise, anarchy and chaos await us.

[pragna]

I think it is not possible yet that by 2030 Crypto will replace Fiat currencies because more than 100 years system we can not change in 10 or 15 years. Though technology is more fast now-a-days but how we can ensure where we see graph of 2009 to 2019 is going low crypto market. But we can hope and see what is happening next days.

[wxa7115]

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.

Despite the price of technology going down in a regular way there are still many people that do not really have access to the Internet and that they do not have electricity either, for those people is going to be impossible to get access to bitcoin, so we cannot really claim that every single person in the planet is going to use cryptocurrencies.

But it is entirely possible that during the next decades bitcoin is going to get a lot more popular and will begin to be used by a significant portion of the population especially those that are like us and understand the risk of having a currency printed by the government with no limits to its supply.

[btcltcdigger]

Will by 2030 crypto be widely recognized and used? YES
Will by 2030 crypto completely replace fiat? NO

The bank lobby is just well built and 2 strong to go down in 20-odd years.

Remember, banking system is more than 2000 years old

[NeuroticFish]

Crypto is not only Bitcoin.
Whether we like it or not, stable coins are crypto currencies too.
State issued stable coins are extremely appealing now for some entities (from states to ECB). The value decided as for fiat, the institutions can take a look freely into anybody's pocket, they can blacklist the money of wrong doers (or opponents!)... just "wonderful".

[Xcode7]

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 think again it's just a possibility. Digital can be a reality in the future, but to replace the original currency, it is likely not. Because cryptocurrency is also based on the original currency, but if for the times and convenience for its users, I totally agree.

[Ezravdb]

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.

I agree, it is quite difficult the fiat currency to be replaced by the crypto currency. Not everyone knows the crypto currency and not all countries have good internet connections. cases like this are often disputed between fiat and crypto currency. I am not sure that in the next 10 years all countries will formalize the crypto currency for every sale and purchase transaction.

[K4C]

Cryptocurrencies are the logical next step in the evolution of money and I really and truly believe this, by the year 2030, Governments around the world would have created their own Cryptocurrencies for their citizens but I believe that Bitcoin would still be the global Cryptocurrency, so many innovations coming to the Cryptocurrency space and it's just amazing to see where we are now, and knowing what's coming in a few years from now.

[nanaimogold]

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 believe it is possible. The world is seeking for better ways to interact economically and there's no better way than through cryptocurrency technology. Ecowas is already seeking for a single unified money for its member states. Bitcoin and crypto can unite the world and the global leaders might take their chances if they can control it

[albrots]

All also depends on the policy of the central government. If in Greece regulations have been applied using card payments / bank transfers 30% of monthly salary, this makes the use of paper money reduced and switch to the digital world.
The crypto and Fiat digital currency classes will certainly occur in the coming years because now more and more digital money is being used.

[ice18]

Thats 10 years from now Im not hoping that crypto will totally replace fiat but I think one thing is for sure more adoptions on this year from centralized system to fully decentralized and this will happen with the help of blockchain technology, if we look back like what happened 10 years ago when bitcoin still not so popular and only few are interested and some users just ignoring it, look at what we have now? Bitcoin is like gold can be used to buy goods and can be exchange to fiat easily, Im sure in 2030 almost all merchants will be able to use crypto because of demand from users.   

[efxtrader]

All also depends on the policy of the central government. If in Greece regulations have been applied using card payments / bank transfers 30% of monthly salary, this makes the use of paper money reduced and switch to the digital world.
The crypto and Fiat digital currency classes will certainly occur in the coming years because now more and more digital money is being used.

Agree, for payments and transactions I think the central bank will not be affected by cryptocurrency because the central bank has a hand that can regulate the economy. The use of crypto might be quite limited although I think crypto like Bitcoin can be used as digital assets like Gold

[jcarlo]

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'm not an expert on cryptocurrency, but I don't think cryptocurrency will replace fiat money. The use of fiat money has taken root in society and I think it needs a long socialization if cryptocurrency replaces fiat money.

[metalglowd]

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

For the moment this kind of statement is still uncertain, this kind of thing has a 50:50 chance, so if until I think the next 5 years about the development of crypto significantly moreover about adaptation for daily activities, I think it will be impossible, so let see 5 years more to see that glimpse future

[davinchi]

There is no "replacing" fiat currencies, they will always exist, how could dollar/euro or whatever else would be totally gone and crypto replace its place? That won't ever happen. The maximum that could happen in 10 years time would be crypto having a bigger role in our lives and adoption rate reaching to a point where we all have crypto cards where we spend money everywhere we go in crypto (pegged to fiat probably) so that we never have to have fiat in our bank accounts ever again.

Maybe wages could turn into crypto as well in time but I am not sure if 10 years is good enough for that, there are already places that pay crypto wages currently, maybe there will be more but I think it won't pass %5 of all wages paid in 10 years time. We just need fiat to be destroyed as well as we need crypto to be hyped.

[Zionatin]

Much has happened in the last 10 years since bitcoin was invented. The next 10 years are going to be great. IF even banks are saying that bitcoin is here to stay and crypto is going to replace fiat soon then it must be true.
We are all going to be rich so long as people do not get too greedy and silly. There still so many other currencies that can moon like bitcoin and we all still way early into adoption. I think most of us won't believe or do not realise that if we went ahead 20 years from now we are all rich. Everyone on this forum.

[biddicoin]

I think it is not possible yet that by 2030 Crypto will replace Fiat currencies because more than 100 years system we can not change in 10 or 15 years.

very possible, the technology development is so fast now.
it would be different development last time ago and nowadays.

Though technology is more fast now-a-days but how we can ensure where we see graph of 2009 to 2019 is going low crypto market.

going low? what do you mean?
Bitcoin is going to be higher as time goes by.

[wxa7115]

Will by 2030 crypto be widely recognized and used? YES
Will by 2030 crypto completely replace fiat? NO

The bank lobby is just well built and 2 strong to go down in 20-odd years.

Remember, banking system is more than 2000 years old

Not only that in order for the banking and the fiat system to be completely replaced we will need to convince every single person of how it is a terrible idea to have a currency that is not backed by anything and that it is a terrible idea to take loans for stuff that you do not really need, and just a quick glance at the finances of almost any person that you could find on the street could show you that almost no one is ready to accept that reality.

People love the idea of being able to buy whatever they want even if they do not have the money to do so, they do not understand that they will need to pay what they borrow with interests and that if they waited they could have bought what they wanted and many other things as well.

[jossiel]

Payments will more of digital during that year but it doesn't mean that majority of payments will be made in crypto. I believe that crypto's will still exist during that time if the market cap grows tremendously and the demand won't drop.

It looks like bitcoin is just starting this time and making itself look like a new born currency, this is the perspective of the people working from the banking and government sector.

[Bonwin]

It is actually a thing that looks so impossible, but if crypto projects can be meaningful enough and bring satisfaction to its users, then gradually acceptance and outright adoption will come in, which will then result into the possibility of it almost replacing fiat, but the fact is that, it cannot happen.