Crypto will rival or replace fiat in 10 years?

[rhodelmabanal]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

[Charles-Tim]

Decentralized cryptocurrencies are alternatives not a replacement, but maybe CBDCs will replace fiat over time, and that is not a replacement as they are the same thing, centrally controlled by the government, CBDCs will be more privacy depriving.

[mk4]

Of course it's theoretically possible. But if it will actually happen or not, time can only tell.

but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat.

What? Definitely not. I'd even go as far as saying that most of the traditional "finance professionals" still thinks that bitcoin and the cryptocurrency space is a scam.

[Twinkledoe]

Of course it's theoretically possible. But if it will actually happen or not, time can only tell.

but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat.

What? Definitely not. I'd even go as far as saying that most of the traditional "finance professionals" still thinks that bitcoin and the cryptocurrency space is a scam.

First and foremost, the OP should edit the title thread as I think he meant fiat here -  Crypto will rival or replace crypto in 10 years?

And yes, I do agree that a lot of these traditional finance professionals still think that crypto is still not a legit digital asset if not a scam. Only few percentage of them are convinced about the capability of crypto in this market. I don't think we will see this happening in our lifetime, if in case crypto will ever replace fiat in the future.

[jakdanyel]

Replacement of fiat? No, I don't think that we will see volatile cryptocurrencies replacing fiat currencies ever in the future. Governments of big countries don't think of taking such action now or later. Instead, they are developing their own digital currencies which are nearly guaranteed to replace fiat currencies. And it might happen in 10 years, who knows.

[molsewid]

First and foremost, the OP should edit the title thread as I think he meant fiat here -  Crypto will rival or replace crypto in 10 years?

And yes, I do agree that a lot of these traditional finance professionals still think that crypto is still not a legit digital asset if not a scam. Only few percentage of them are convinced about the capability of crypto in this market. I don't think we will see this happening in our lifetime, if in case crypto will ever replace fiat in the future.

I got confused too by the title of the thread but back at the point of OP's thread I thought crypto will not going to replace fiat existence. I mean, crypto will become a one  of the world's financial asset but replacing the circulating fiats in the respective country is impossible. But I do believe that once the crypto become a legal tender in many countries this crypto assets will become the most used kind of finances and the utilisation of crypto will grow and so the market demand.

[bots1]

In my opinion, it is very likely that in the next 10 years crypto will replace fiat currency because I think that blockchain, the technology that underpins this cryptocurrency, is superior in scalability, hence has boosted its global acceptance. Companies should adopt crypto and blockchain, otherwise they will miss the opportunity to make a profit.

[stadus]

It's normal to see some biased speculation in the future but in reality, fiat will always be the king.

When in the early stage, we use to talk about crypto as an alternative currency only, and we promote decentralization, so there's no way it will rule in a world that is centralized and controlled by a government. Let's forget about that possibility as it's unlikely to happen, unless the time will come that there's a chaos and the government will fall.

[maju69]

could it be true? or not 100% certain, so far crypto is still an alternative and investment instrument. So if in the next 5 or 10 years to replace fiat, then what about the fate of CBDC? Isn't that what is being worked on to replace fiat? The government will not sit idly by as the CBDC shifts its seat.

[crzy]

Replacing fiat money is not easy to happen especially now that they are also adopting online and creating fiat as an online money. For me, I don’t see any replacement here but a good rivalry where people are able to choose on which currency they’ll use, a more freedom for everyone.

[Hippocrypto]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

I don't think so, traditional fiat wouldn't be replaced by cryptocurrency because government wouldn't allow this type of currency as the main currency for the people. First thing that I look upon on this was due to volatility, economy of a certain country couldn't afford to see it happening. We need an economy that's stable, basically fiat currency is the optimized currency in order to come at regulations and not digital currency.

[STT]

That would be like saying the Model T was replaced, the product evolved and I'd expect the mainstream will alter BTC in some ways but not completely.  I can see BTC changing its protocol to some extent so long as it improves efficiency and perhaps does so to include latest technology developments.   Its never going to change things like being decentralized or other alt coin mutations that arent really advancements.

possible replacement of fiat with digital assets

FIAT is a digital asset already, almost all volume transaction occur just on paper or more precisely digitally which might be then printed off.  Theres no worth in coin literally or even nominally and same is true of printed notes, its not a significant factor especially.    This is important part of why most inflation is not acknowledged I think.
 If the monetary base increased 25% in one year thats your inflation and failure of value in conventional currency.   Most wont agree to this view but supply and demand, economic rules true over centuries will weigh against most modern ideas.  Someone told me recently government is a capitalist enterprise; I think we have endless wasted energy expended due to the size of government this loss is not acknowledged.

[ziyaaa]

Maybe not volatile cryptocurrencies but digital currencies which are stable and developed by governments are going to replace fiat in the future. I don't know, maybe it will happen in 10 years or even more time. But sooner or later, it is very likely to see this. Governments can't go on with fiat currencies forever. You can't stop their devaluation by continually printing money. On the contrary, you are helping the devaluation in that case. Some day, we will see a big economic recession and it will affect fiat very deeply.

[Boov]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

It's only a rivalry and wouldn't come to a point replacement will happen, because we aren't sure yet crypto still exist within 10 years from now. The world is changing and evolving, every now and then there's a possibility that in due time there's another trend that would make digital currency become obsolete because of technology advancement. But, traditional money won't be out of circulations and world bank is the main reason to that strong support would never be overtaken.

[cryptomaniac_xxx]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

5-10 years? I doubt that is possible, fiat will remain still as crypto is not yet adopted.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

It could be, but countries should adopt it as well as I have said. If only less than half of the nations around the world adopt crypto then the likelihood that it will replace fiat is slim. But it's good that we are seeing crypto as an alternative already, specially for those unbank peeople around the world.

[Victorycoin]

Crypto decentralized fiat money can never be replaced if the competition between the two currencies starts, the value of crypto will be higher than that of fiat everyone uses crypto currency as their own the two currencies will compete but no one will be able to replace them. The crypto government cannot control even if it wants to governments usually thrive on stable currencies digital currencies do not support instability.

[Fundamentals Of]

This is vague. What exactly do you mean digital assets replacing fiat currencies? If you are referring to digital currencies replacing fiat currencies, that is actually just the same fiat converted into a different form. There is no replacement there. But if you are referring to cryptocurrencies, Bitcoin more than others, as outright replacements for fiat currencies, then I don't think it will happen. That will never happen because no government would ever allow a currency not created nor controlled by the government itself to become its official currency.

[bitterguy28]

Title is wrong i think you mean "Crypto will replace FIAT" in 10 years .


Indeed like that , i know that Crypto will bloom in the next 5-10 years but replacing Fiat ? for what reason ? who will completely support?

Fiat of each countries has their Beloved heroes and presidents faces , do you think they will let crypto erase those ?

Fiat will remain , but crypto will serve priority .

[dunfida]

Decentralized cryptocurrencies are alternatives not a replacement, but maybe CBDCs will replace fiat over time, and that is not a replacement as they are the same thing, centrally controlled by the government, CBDCs will be more privacy depriving.

+1

Why people been thinking about replacing to each other considering that they do have specific purpose of their existence? Talking about CBDC's then i dont really consider this to be a crypto
but rather in near with digital fiat. Anything that do opposes decentralization wont really fit out on that criteria.

People do really love on rivaling things around without trying to understand off that it isnt really that considerable for it to happen.

[MiF]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

There is no need to replace fiat to digital crypto currency, I think it is more good when we can choose both fiat or crypto it depends on us on what we want or what we select if we wanted crypto then we used crypto of we wanted fiat then we used fiat isn't that amazing?.