Something that has been unclear to me is how will governments survive when fiat is nowhere to be seen and all or most monetary transactions happen via cryptocurrencies.
Since one of the most attractive aspects of crypto is that its anonymous and decentralized, how will governments be able to keep track of money and tax it.
It is very unlikely fiat is going to disappear, however let's suppose that it happens governments will have no option but to become smaller since governments depend greatly in printing their own currencies to sustain themselves, now they will be able to charge taxes but it is going to be a lot harder to extract them from the population so only taxes that are unavoidable will be paid to the state.