Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.
As my opinion there's no impossible things that happened in this world because of changes of our new technology. We are engaging in high tech experiment and maybe the evolution of money can be true because of changes. Digital money currency will soon replace fiat money as part of innovatios.
I don't believe that crypto will replace fiat money. The goals of crypto are completely different, and crypto has a small share in the economy. The world economy is too dependent on fiat money controlled by governments and financial institutions to make it happen.
No I do not think so that this can ever happen even in the future.It is nearly next to impossible.All the people depend upon Fiat currency for the day to day transactions.Fiat currency is accepted internationally and it is also backed by the central banks and government.On the other hand cryptocurrencies are banned and are decentralized.They are also very volatile and hence risky.They need some information and basic knowledge to get operated.