Post
Topic
Board Economics
Re: transition FIAT to DIGITAL?
by
qwertyup23
on 18/03/2018, 17:15:18 UTC
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

Adapting a currency from fiat to a digitalised format would require some time as different countries would be needed to adjust into this system, considering that developed and developing countries have their own technological advancements. Countries who are on the underdeveloped side are on a disadvantage, as they would require a system wherein people would have access to internet and a form of gadget that would allow them to transact digitally. Compared to countries who are on the developed side, their current state would allow such implementation.

Though it may be ideal, I do not see its implementation in the near future as countries would be needed to adapt into this mechanism. Considering also the economic discrepancies present, I doubt that they would prioritize such currency digitally.