Crypto will rival or replace fiat in 10 years?

[lucates]

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.

Somewhat I disagree with your statement because in early stages of  transaction barter system was used but it has huge limitations. Then introduced systems like precious metals, gold backed currencies and now fiat currency. All these evolution has some flaws that's why we introduced new form of method. Limitations of fiat currency are,

  Controlled by central authority at every stages
  Risk of inflation
  Delays in money transfer etc.

Best solution for present currency system is crypto because it
   
   Works on decentralised system
    Validation through a network
    Highly secured
    Super fast transfer.

Crypto and present currencies could co-exist because it's a better and new payment system. If fiat currencies replaced by crypto currencies then it make big economic impact.But I am damn sure world leaders will prudently solve this.
It's a next step of evolution of currency that is future of money. As a futuristic digital form of currency soon to become main stream.

[Oilacris]

There is a lot chance for Crpto is accepted world wide in a decade but I don't think so that crypto will either dominate or replace fiat. Crypto will be seen as like an Asset or if so as Currency, It will remain utilized as an Asset or a currency. Those who wish to invest and multiple their amount, can yes will opt crypto.

Can sense a mass adaption and huge change due to crypto in the economy in 10 years I am sure.

It would really be remaining as an option or just a selection which simply means  that there's a different market to that and i dont really believe that fiat could be replaced by something which is decentralized.

Even on my dreams im not really that anticipating for this thing to happen becauuse government itself wouldnt really be tending to allow
such thing to happen.

10 years might be a long time but for sure fiat would still be strong enough on taking control but with crypto existence
then at least we do have some choice.

[South Park]

maybe not only in 10 years, but even in our lifetime, we won't see crypto replacing fiat. the adoption may grow but replacing fiat is not happening in our generation. just be happy that the adoption is growing but aiming to replace fiat, is i believe too much. i dont know why people are trying to ask this question which for me the answer is very obvious. just because you are in crypto, you feel different with noncrypto users.

Not in a lifetime. Crypto is not meant to replace Fiat, especially when it's decentralized and censorship-resistant. It's better off as an alternative than anything else. I seriously doubt governments are going to allow crypto to take over Fiat, when the latter is much easier to manipulate by them. That would mean giving away power to the people, which is something governments don't want to happen. Crypto is working well as an alternative to the current monetary system, so I'd expect it to last for a very long time. What matters above all else is decentralization. Only that way people can use crypto without worrying about governments' interference. As long as it stays decentralized, there should be nothing to worry about. Just my thoughts

Exactly, it is to be expected that governments get more tyrannical as time passes as the technology allows them better monitor and control their citizens, if bitcoin did not existed then governments will have a free path to do whatever they wanted and even with bitcoin around they will try to do so anyway, however for people like us that realize what is going on we are fortunate to have an option to at least reduce the effects those policies will have over us, and to me that is more than enough.

[Hamphser]

There is a lot chance for Crpto is accepted world wide in a decade but I don't think so that crypto will either dominate or replace fiat. Crypto will be seen as like an Asset or if so as Currency, It will remain utilized as an Asset or a currency. Those who wish to invest and multiple their amount, can yes will opt crypto.

Can sense a mass adaption and huge change due to crypto in the economy in 10 years I am sure.

It would really be remaining as an option or just a selection which simply means  that there's a different market to that and i dont really believe that fiat could be replaced by something which is decentralized.

Even on my dreams im not really that anticipating for this thing to happen becauuse government itself wouldnt really be tending to allow
such thing to happen.

10 years might be a long time but for sure fiat would still be strong enough on taking control but with crypto existence
then at least we do have some choice.

10 years or 20 years it doesnt matter or even lets say 50 years.It cant be possible for fiat to be replaced by any currency whether its digital or other things because government would indeed not let for those things to happen.Centralization would remain no matter what and we cant just have a world moving on a single system considering that there are lots of countries in the world which wont really be uniting as one.

Fiat would remain no matter what.Crypto might be adopted even more but it would really be just an option same as you said.

[Dewi Aries]

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 although how strong crypto is, wouldn't that easy to replace fiat. There are big thing behind it and they can do anything they want, that is what i know. Maybe fiat will be more digitalized, but to replaced with crypto, will need not only 5-10 years, maybe in future when crypto is adopted all over the world, goverments accept is as legal tenders and anything else that fiat have to be main currency.

[arufox]

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

[carlfebz2]

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

Even we do say for 20 years then it wouldnt really happen because government wouldnt really let that thing to happen and it would exist no matter what.

Dont mind off  or think about the probability because it will really be an impossible thing to happen but it would be good if crypto would still exist on those years and been  a good option for other payment terms.

Centralization would remain and we cant really deny that it does really have that respective purpose which we do all need.

[Abiky]

Exactly, it is to be expected that governments get more tyrannical as time passes as the technology allows them better monitor and control their citizens, if bitcoin did not existed then governments will have a free path to do whatever they wanted and even with bitcoin around they will try to do so anyway, however for people like us that realize what is going on we are fortunate to have an option to at least reduce the effects those policies will have over us, and to me that is more than enough.

Governments will only become worse with the introduction of CBDCs. This will give them more power than usual over people's lives since it's much easier to manipulate a digital currency than a physical one. Imagine how invasive government surveillance will be, as every transaction gets monitored on the ledger. Crypto will be the only alternative for those looking to protect their privacy at all costs. While it may never replace Fiat, it'll always be there for those who need it the most. Set yourself forward 10 years from now, and everything else will remain the same. What matters is that crypto remains decentralized so that it can stand the test of time. As long as it stays that way, we should have nothing to worry about. Just my opinion

[Kadal Ijo]

I never expected that crypto would kill fiat, the two are different but complementary things, is it possible to buy a pack of cigarettes by paying with crypto if there is fiat which is faster and easier? I'm worried that when the transaction with crypto and our initial balance is enough then the price drops then we can't pay, and this is the function of fiat which is more stable than bitcoin.

[bengsabeng]

I never expected that crypto would kill fiat, the two are different but complementary things, is it possible to buy a pack of cigarettes by paying with crypto if there is fiat which is faster and easier? I'm worried that when the transaction with crypto and our initial balance is enough then the price drops then we can't pay, and this is the function of fiat which is more stable than bitcoin.

it can happen if the buyer and seller are both lovers of bitcoin, but of course this will not apply in general because not everyone is willing to accept bitcoin. this can be likened to bartering because bitcoin is not a legal tender, a few months ago I exchanged some bitcoins that I had for a used jacket belonging to a friend of mine. as I said before this kind of thing can happen because the seller and the buyer are the same as the bitcoin lover.

[rodskee]

Rivalry is happening years passed and still on it , but replacing is the thing we cannot commit , because admit it or not you cannot even let crypto replacing fiat .
so best to let both exist but of course we are seeking for the continues progress of crypto over fiat so in future we will be more dependent in crypto using that fiat using,

[Quantum907]

I think fiat will survive, why should we force everyone to use crypto and leave fiat? both are different things and should always be there, we can't 100% use crypto, for example to buy a snack for $ 5 of course fiat is faster because transactions are direct, I'm worried when I want to pay the internet is not available or the network is busy so I have to pay transaction fees over $50 as it did on ethereum.

[Farma]

Rivalry is happening years passed and still on it , but replacing is the thing we cannot commit , because admit it or not you cannot even let crypto replacing fiat .
so best to let both exist but of course we are seeking for the continues progress of crypto over fiat so in future we will be more dependent in crypto using that fiat using,

I think of different things. I think this is not a rival, but a new technology that will be an alternative, not a rival. we know that the government will not allow a decentralized system to change everything in the economic system. So, I think crypto will be a payment alternative.
this relates to replacing the Fiat. I think, crypto will never replace fiat. even I think that the government also will not allow the highly fluctuating medium of exchange to become the main medium of exchange of a country.

[Joshapat]

The demands of future needs are increasingly complex and crypto is the right answer, too many rules and controlled by the central bank make us not free to control our own money and the presence of crypto will make the function of fiat will decrease and eventually disappear, but it will take at least 15 years from now.

[geegaw]

The demands of future needs are increasingly complex and crypto is the right answer, too many rules and controlled by the central bank make us not free to control our own money and the presence of crypto will make the function of fiat will decrease and eventually disappear, but it will take at least 15 years from now.

I don't know how complicated the future needs will be and why crypto is needed to deal with this problem, most of the functions that crypto has, in fact there are products with similar functions and technology won't stop forever, so for more complex problems, there will be more solutions. In addition, banking functions will be more strict with our money, this is a long known story, so people's current situation is more geared towards investing in more stable assets, reduce storage in banks, crypto should be worried about competing with other investments, greedy function of fiat just wastes resources and expectations

[Taskford]

The demands of future needs are increasingly complex and crypto is the right answer, too many rules and controlled by the central bank make us not free to control our own money and the presence of crypto will make the function of fiat will decrease and eventually disappear, but it will take at least 15 years from now.

Its hard to believe on the timeline given since in tbe first place for surethere will been interruption that  will happen that's why I'm sure eventhiougb crypto will strong in that timeli for sure fiat will still there since government will still support it knowing that crypto volatility is so high and many will just think that this is great alternative after fiat.

[Pejoh Asu]

I prefer crypto to be a rival to replace fiat, many things can't be done or can replace the function of fiat, even though fiat is fully controlled by the central bank but this makes the value of fiat more stable than crypto which is turbulent and difficult to predict.

[arufox]

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

Countries that legalize bitcoin or crypto will certainly make their citizens prefer to transact and store assets with crypto from saving money in banks, of course the influence of fiat will continue to decrease and I think this is a good thing because we are in the era of cryptocurrencies and will soon leave the era of banks.

Of course, if the State legalizes bitcoin or crypto as a medium of exchange, it automatically makes its citizens choose to transact with cryptocurrencies as implemented by the country of El Salvador which has legalized bitcoin as a legal tender. Even El Salvador continues to buy bitcoins for the development of developed cities in their country. El Salvador has also reinvested unrealized profits into various infrastructure development projects.

[AmoreJaz]

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

Countries that legalize bitcoin or crypto will certainly make their citizens prefer to transact and store assets with crypto from saving money in banks, of course the influence of fiat will continue to decrease and I think this is a good thing because we are in the era of cryptocurrencies and will soon leave the era of banks.

Of course, if the State legalizes bitcoin or crypto as a medium of exchange, it automatically makes its citizens choose to transact with cryptocurrencies as implemented by the country of El Salvador which has legalized bitcoin as a legal tender. Even El Salvador continues to buy bitcoins for the development of developed cities in their country. El Salvador has also reinvested unrealized profits into various infrastructure development projects.

there may be countries that will follow the path of el salvador, but the majority of governments, i don't think they will. they will stick to their own fiat. but they may allow the co-existence of crypto, which is already happening anyway. but still the main currency will be their fiat, as they have full control of its existence. so for most countries, fiat will still be their main currency in the next 10 years. but we can't deny the fact, that maybe there will be few countries that will make btc their legal tender like el salvador.

[Lmaooo]

maybe not only in 10 years, but even in our lifetime, we won't see crypto replacing fiat. the adoption may grow but replacing fiat is not happening in our generation. just be happy that the adoption is growing but aiming to replace fiat, is i believe too much. i dont know why people are trying to ask this question which for me the answer is very obvious. just because you are in crypto, you feel different with noncrypto users.

Not in a lifetime. Crypto is not meant to replace Fiat, especially when it's decentralized and censorship-resistant. It's better off as an alternative than anything else. I seriously doubt governments are going to allow crypto to take over Fiat, when the latter is much easier to manipulate by them. That would mean giving away power to the people, which is something governments don't want to happen. Crypto is working well as an alternative to the current monetary system, so I'd expect it to last for a very long time. What matters above all else is decentralization. Only that way people can use crypto without worrying about governments' interference. As long as it stays decentralized, there should be nothing to worry about. Just my thoughts

Exactly, it is to be expected that governments get more tyrannical as time passes as the technology allows them better monitor and control their citizens, if bitcoin did not existed then governments will have a free path to do whatever they wanted and even with bitcoin around they will try to do so anyway, however for people like us that realize what is going on we are fortunate to have an option to at least reduce the effects those policies will have over us, and to me that is more than enough.

There is no doubt that bitcoin will challenge the fiat currency in the future because bitcoin is a digital currency that's fast, secure, and decentralized. If you look at the other hand you may see that fiat currency is a paper currency that is slow in terms of making transactions, centralized controlled by the banks, yet has more expensive transaction fees. Bitcoin is by far a more reliable option compared to a fiat currency because it works day and night, it has no closing hours or weekends like banks.