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Author Topic: @Deloitte: "The fiat currency will be gone in 5 to 10 years".  (Read 386 times)
Ozero
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October 23, 2021, 06:13:55 AM
 #61

This is the most likely scenario. Even now all of us are using credit cards, receive their salaries on cards, pay using cards or mobile apps in shops. What is this entire if not transformation of fiat money into some kind of “digital asset”. If terminals will be put everywhere and 24-hour internet connection will be provided the need in paper money will be exhausted. I understand that it’s not that simple but we are definitely on the way of getting rid of paper money.
It can be seen that you live in a big city, where ATMs and other amenities are at every turn, and you may have enough funds to use it all. Unfortunately, not everyone on this planet lives so well, and such forecasts do not take this into account. In addition, we are now entering a period of climate change on the planet, which will entail continuous disasters and this will significantly slow down the plans of some to introduce digital technologies. There are many more reasons why paper money is unlikely to disappear from our bypass in the foreseeable future. And you shouldn't strive for this either. Paper money is the most untraceable by the government and serves many useful functions.

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October 23, 2021, 09:42:57 PM
 #62

"With Apple Card, we completely reinvented the credit card. Your information lives on your iPhone, beautifully laid out and easy to understand."

Quote from Apple about their Apple card. In a couple of years you will hardly find any tech company that is not into payments. If you check out how Apple is approaching digital payments, they are trying everything in their power to also find their place in the digital payments industry. Looking at the design of the card, it is quite obvious that they to stick to their overall strategy, which is supposed to suggest exclusivity and special social status.

As for fiat payments going away within 5 to 10 years time, this has been said before - it is not really gone. It just takes on a different form, namely digital. There will still be endless printing and inflation.

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