Will stablecoins replace Fiat currencies in the future?

[lablab03]

Its so hard to tell because crypto currency has a bad influence in others eyes and mostly the word SCAM is the common thing that always turn to some people to reject crypto currency.. Its a negative news to make the story short..
For me if i will answer your question if its still possible.. Probably its still No CHANCE even crypto keeps improving its technology . as some of the countries are against on it which the way how it can influence people to make crimes and etc. on this reason we can tell that's there's no way it can replace fiat.

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[noorammak]

Stablecoin has the original standard from fiat currency placed in banks, typically USDT, BUSD, TUSD, USDC then to protocols from crypto institutions. If taking stablecoins instead of FIAT, that doesn't seem right. We still don't have a worldwide crypto adoption so it's not a matter of Stablecoins replacing FIAT. Governments must never let cryptocurrency replace the national currency they create.

I think that stable coins like USDT, BUSD, TUSD, USDC has already replaced the USD as in the exchanges we use these stable coins and not the USD itself. In the future, there will be no USDT or USD and money will be measured in bitcoin only.

They have to be measured by other commodity standards, Bitcoin is only part of that. The world has printed too much money and ignored standards. Historically we've had 2 dollars printed on the gold standard and they don't last long.

[arifteguhr]

No. The stable coin is currently having a lot of problems and also yesterday USDT had a problem with Bitfinex. it is too easy to conclude that the current currency will be replaced.
However, it is possible that in the next few decades we will see a new currency that can be used more efficiently. the current shift of people in transactions to electronics makes this an indicator

[MishaSER]

No. The stable coin is currently having a lot of problems and also yesterday USDT had a problem with Bitfinex. it is too easy to conclude that the current currency will be replaced.
However, it is possible that in the next few decades we will see a new currency that can be used more efficiently. the current shift of people in transactions to electronics makes this an indicator

I don’t think it will happen. USD or USDT. This currency is used by too many people to replace it with something else. This money is embedded in our lives too tightly to refuse it. And nothing needs to be done, because we already use electronic money.

[Ebede]

Definitely it will because any country can rise and introduce their stable coin and people will value it without going into their fiat currency, despite that fiat currency is the foundation of each country, and they  started with it, and it will be very difficult to leave it and starting making use of stablecoins in the society or country, so Fiat remain fiat currency and it's more influential than any other currency for now.

[lionheart78]

Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch?

No there is not even a slim possibility that a government will adopt stablecoins as their own.  They would rather create one that they have full control than adopting stablecoins that can greatly affect their economy.  I believe the government will adapt to the present existence of stablecoins but they will never adopt it as their own due to the issue of control.

[kak uli]

yes, maybe that will happen if the government in a country is interested in these stablecoins. but in your opinion, where will the stablecoin be adopted ??
and it seems that if you look at the current developments, many countries and governments are not sure about such a thing, so it is not easy to issue a regulation governing digital currencies, and it is not easy for stablecoins to replace a country's fiat currency.

[tarable]

yes, maybe that will happen if the government in a country is interested in these stablecoins. but in your opinion, where will the stablecoin be adopted ??
and it seems that if you look at the current developments, many countries and governments are not sure about such a thing, so it is not easy to issue a regulation governing digital currencies, and it is not easy for stablecoins to replace a country's fiat currency.

Each country will clearly use their respective country's currency, now for matters about stablecoins such as the USDT example I think it will be very easy to apply through currency exchanges at banks in their respective countries, even though your country's government has not adopted it, but I am very I am sure that several governments in other countries have adopted it, because the value of stablecoins is always the same as the value of the dollar in general.

[Alohadanc3]

I don't think so. No country will ever withdrawal there fiat. If they have to digitalized everything they will make their own digital currency with centralised system. Yes I also think that fiat will be alternative and many people 5 years from now use stable coins and crypto as a payment method. But fully withdrawn of fiat is not possible.

[llecrf]

Technological advances will continue to develop, we have seen digital currencies such as those in bank balances, debit cards and credit cards are very easy to use, we don't need Fiat if we want to make transactions using a debit card.
Fiat currency seems to always exist because not everyone has a connection to the internet network and after all problems are resolved such as internet coverage, electricity and tools for digital currency payment systems such as stable coins are resolved, maybe we can use them with regulations issued by several countries.

[Nivia1st]

why not, stablecoins are the most suitable crypto for everyday use. with a low fee and a stable price this is very appropriate. and if governments make their own crypto, I'm sure they'll make stablecoins. and the possibility of stablecoins replacing fiat is wide open. there is no cryptocoin more precise than stablecoins, privacy coins are difficult to track, bitcoin and ethereum are too expensive and very unstable.

[nicecrypto]

why not, stablecoins are the most suitable crypto for everyday use. with a low fee and a stable price this is very appropriate. and if governments make their own crypto, I'm sure they'll make stablecoins. and the possibility of stablecoins replacing fiat is wide open. there is no cryptocoin more precise than stablecoins, privacy coins are difficult to track, bitcoin and ethereum are too expensive and very unstable.

I think if the government do decides to develop a cryptocurrency and they went ahead to get a stable coin, is it still going to be pegged to the USD that the stable-coin is trying to replace or to what? Lets say they do get a stable coin, wouldn't it be regulated with all the government functionalities attached to it or will it be free and decentralize like the real cryptocurrency?
What ever the government comes up with wont really be a true cryptocurrency and stable-coins might be majorly accepted for transaction but will not replace fiat.

[South Park]

Stablecoin has the original standard from fiat currency placed in banks, typically USDT, BUSD, TUSD, USDC then to protocols from crypto institutions. If taking stablecoins instead of FIAT, that doesn't seem right. We still don't have a worldwide crypto adoption so it's not a matter of Stablecoins replacing FIAT. Governments must never let cryptocurrency replace the national currency they create.

I think that stable coins like USDT, BUSD, TUSD, USDC has already replaced the USD as in the exchanges we use these stable coins and not the USD itself. In the future, there will be no USDT or USD and money will be measured in bitcoin only.

This is very unlikely, I love bitcoin and I think it will become a currency used worldwide but to think that somehow stable coins are going to disappear when coins like USDT have a higher volume than all the coins above it in terms of the market cap combined is simply not realistic, if you do not like stable coins then that is fine but we cannot close our eyes to the truth, stable coins perform an important function and that function is not going to suddenly disappear out of nowhere.