Crypto will rival or replace fiat in 10 years?

[bitgov]

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 cryptocurrencies will ever completely eliminate Fiats. I think in about 10 years, cryptocurrencies will be used just like money. Simply put, both of these financial tools will find a place for each other on that market.

[1714848803]

1714848803

[lenovop-70]

Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.

[qwertyup23]

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 highly doubt so.

Fiat was created in order to have a standardize unit of currency across the globe. With the value of fiat depending on the number of gold reserves, inflation, etc. of a country, it is recognized globally that there are currencies which hold a greater value compared to others. Bearing that in mind, what cryptocurrency lacks is the recognition and implementation widescale.

Remember that if crypto were to replace fiat, countries would have to implement technological application for its transactions. Of course, developed countries have no problem with this but underdeveloped and some third-world countries would be prejudiced by this. There are other priorities that such countries must focus (e.g. education, transportation, etc.) and shifting to a digitalized currency is like the least of their problem at the time being.

[Abiky]

Fiat and crypto should not compete but rather co exist in the payment system. It can give more advantage on part of the users and consumers since they are free to choose which one will be more convenient for them. But for now, i think the government is not considering it. They are even making strict restrictions on crypto seeing that it can be a big threat to fiat. And knowing crypto has been indirectly involved from different scamming activities, then it will surely create space between the government and crypto.

It was never about replacing Fiat. Banks are still too powerful even with crypto/Blockchain tech in play. We might as well focus on making crypto the best alternative financial system the world has even seen. As long as decentralization exists, nothing else matters.

Undoubtedly, both Fiat and crypto will survive for generations. It's up to you to decide which one to use depending on your needs. Not everyone will find crypto attractive because of its widely-unstable nature. Fiat may be stable but it's subject to the rules of a central bank and the government. I bet crypto will be much better 10 years from now as it evolves at a fast pace. Fiat will still be on the scene, but it'll no longer be used physically (paper money) to pay for goods and services. It will exist as a CBDC, challenging crypto in every way. I wouldn't worry about this, as long as people have the liberty to choose one type of currency from the other. Just my thoughts

[darkangelosme]

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 dude, fiat currencies are one of foundations of every country. And i also don't want any government of the world will get control of any cryptocurrencies in the future.

[lepbagong]

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?

even though those who say it is a financial professional can they guarantee that the analysis they do can happen and will happen?
I don't think so because it is clear that there are many aspects that will occur if digital assets will be used as an alternative to fiat currency.

we know that there are still many countries in the world that are still very dependent on the use of fiat currency. because it is clear that the cultural differences and the progress of a country in adopting technological progress are very different and many still use traditional methods and it is not easy to prevent let alone be forced to use. it still takes a long time to replace it and not for the next 5-10 years.

I don't think so dude, fiat currencies are one of foundations of every country. And i also don't want any government of the world will get control of any cryptocurrencies in the future.

agree, that we must also respect local wisdom which is accustomed to conducting every transaction in the traditional way which always has to be seen in the form of fiat currency in every transaction. and they cannot be forced to accept technology transfer quickly, because all national characters are very different.

what is more important is of course what you have said, that no one should control and regulate crypto so that it is like it is today. all happen because of the mechanism that has been attached to him.

[milewilda]

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 dude, fiat currencies are one of foundations of every country. And i also don't want any government of the world will get control of any cryptocurrencies in the future.

Quite ironic eh? Decentralized things shouldnt really be touched by government in the first place thats why it isnt surprising with these kind of decisions.I dont see any probability or chances that
fiat would be replaced with crypto.It could both exist but doesnt mean that there would chances of replacing one another.Government is always there and they wont let things to happen.
Its true that fiat currencies are one of the foundations of a country and its impossible for it to be replaced.

[Marvell1]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

[Natalim]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

Crypto may be co exist with fiat but it won't certainly exist as a currency without fiat. So fiat will always stay and crypto might forever be an alternative currency to fiat. Yes, the government might eventually launch their own crypto in the future but that will be a centralized one so that it will still be in control with them.

However, bitcoin has already been considered as a legal tender in El Salvador but it does not mean that fiat has been eliminated. So same with this, crypto after 5-10 years might be accepted by the government because of some people's demand, but we should not expect that it will be the only currency as it will only be a reserved for fiat so that the government can still satisfy the people's growing demand for bitcoin or crypto.

[jubalix]

I think the masses are slowy wakeing up to printed money infaltion as houses and cost of living decouple from wages - its a long time now sicne the 70's and people are finaly wiseing up across the spectrum.

- Boomers can't get a intrest rate return so are force in to shares or realestate
- Yonger gen locked out if apreciateing assets classes in any meaninfull way
- middle class are shrinking in number and findign thier jobs don't meet cost of living.

[$crypto$]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

Crypto may be co exist with fiat but it won't certainly exist as a currency without fiat. So fiat will always stay and crypto might forever be an alternative currency to fiat. Yes, the government might eventually launch their own crypto in the future but that will be a centralized one so that it will still be in control with them.

However, bitcoin has already been considered as a legal tender in El Salvador but it does not mean that fiat has been eliminated. So same with this, crypto after 5-10 years might be accepted by the government because of some people's demand, but we should not expect that it will be the only currency as it will only be a reserved for fiat so that the government can still satisfy the people's growing demand for bitcoin or crypto.

In the next few years at least 10 years bitcoin can coexist with fiat but it is true that fiat will not be lost to be replaced let alone with bitcoin of course fiat will become a common medium of exchange in any country that will never be replaced with its own currency from their respective countries.

In this plan in a country I have planned own cryptocurrency and it is still being tested to be centralized, so the government will still have control over this, but to coexist throughout history then I think it will be possible if the government has accepted bitcoin and side by side with the government's own cryptocurrency.

[SquallLeonhart]

Crypto may be co exist with fiat but it won't certainly exist as a currency without fiat. So fiat will always stay and crypto might forever be an alternative currency to fiat. Yes, the government might eventually launch their own crypto in the future but that will be a centralized one so that it will still be in control with them.

However, bitcoin has already been considered as a legal tender in El Salvador but it does not mean that fiat has been eliminated. So same with this, crypto after 5-10 years might be accepted by the government because of some people's demand, but we should not expect that it will be the only currency as it will only be a reserved for fiat so that the government can still satisfy the people's growing demand for bitcoin or crypto.

Same thing that happened in El Salvador may end up happening in other places of the world as well. I am not guessing USA will do it anytime soon, maybe not this decade, but some other smaller nations could do something like that. Which means that we are going to see things that are much better, crypto will be legal tender in many different places.

All it takes is one nation being good at it and that is El Salvador right now, if they keep being good then it is going to be definitely good for other nations as well and they will maybe test it out as well. This way we will have fiat AND crypto hand in hand together without a worry. It doesn't need to eliminate each other at all, going together is good enough.

[rincoeng1986]

Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.

So far there have been no fatal losses for people who really understand crypto unless they are people in a hurry to sell their assets and people who choose the wrong coin to invest. choose the right cryptocurrency and choose a good coin like bitcoin, ethereum and others, then you never experience a loss.

[Rufsilf]

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?

Indeed, crypto especially bitcoin will likely to replace fiat in 5 to 10 years. Most of the finance professsionals and analyst says the same thing that it will possibly happen in the future.
As of today, crypto currencies don't have a chance to stand against fiat because fiat is issued by the government and trusted by the citizens so it makes it more credible while bitcoin or crypto isn't regulated nor backed by the government.
Due to fiats scarcity and inflation, many people starts to believe in crypto because its more valuable than fiat or gold and given markets volatility, many still believe that crypto will surpass fiats in the near future.

[stadus]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

That's right, no government would allow that their own currency will be replaced by a decentralized currency, what is government for if they cannot use their centralized power to govern the state. Crypto is created as an alternative to fiat, it's not created to replace fiat by any means because it will never happen.

[tengui]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

Cryptocurrencies launched by a country will still not be able to replace fiat currencies as a whole because fiat currencies have been legal tender for a very long time. In addition if there is a direct transaction I think the use of fiat currency is much more efficient and effective.

[barbara44]

crypto especially bitcoin will likely to replace fiat in 5 to 10 years. Most of the finance professsionals and analyst says the same thing that it will possibly happen in the future.
As of today, crypto currencies don't have a chance to stand against fiat because fiat is issued by the government and trusted by the citizens so it makes it more credible while bitcoin or crypto isn't regulated nor backed by the government.
Due to fiats scarcity and inflation, many people starts to believe in crypto because its more valuable than fiat or gold and given markets volatility, many still believe that crypto will surpass fiats in the near future.

Which expert says that bitcoin will be replacing fiat? I do not see any other person saying something like that and I do not get why we are saying something like that is even possible because I believe that it is not something that is possible. The reality is that crypto will be a fiat alternative and it is like that right now and it will stay like that forever as well. We do not really care about what the situation is like in the future because we are not going to have anything that will replace fiat.

Fiat is the power of the governments and nations which mean that it will not be gone and it will stay like that. It will not happen in the 5-10 years and it will not happen anytime in the future. Unless we have something super important that makes fiat completely gone then we are not going to have anything that will change the situation we are in at all, fiat will survive.

[FlamingFingers]

Bitcoin still have a long way to go if its to replace cash, although it might be possible in near future, major adoption of crypto where by lots of companies, countries will adopt digital assets and blockchain technology, El Salvador has made a bold move in accepting it as legal tender, I believe that if more than 70% of the whole countries in the world make the move that El Salvador made, it will be a good move for bitcoin replacing fiat

[Rimueng]

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 think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.

[pinggoki]

Bitcoin could indeed come in par in terms of usability with fiat in due time, but to suppose that it could do so in as small a window as 10 years could be ambitious. Marketcap and all-time highs don't necessarily tell that an asset is suddenly becoming rampant across the world. there are certain parameters that you must meet along the way for something as big as what OP is saying to happen. Then again I'm positive that we'll get there at one point along this journey and once we do get there things will go hard for crypto.

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 think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.

If we are to assume that technology will progress exponentially just like how it is going so far, I think it will at least be possible within our lifetimes, to make such massive claim without proper backing other than the fact that some countries are already doing it could only disappoint us when things go south in the future, so let's take into account everything, even the ones that may sound undesirable for us, to make us prepared for what's about to come. That's basically what I have to say about this. I love crypto as much as the next guy, but sometimes a little bit of realism doesn't hurt.