Quote from: astridwi on September 17, 2018, 10:41:38 PM

The need for fiat currency is currently maintained in many countries but I think it will gradually be abandoned. I was quite observing in terms of raw materials and real ownership of money between the fiat and crypto currencies.
1. Fiat currency requires special raw materials and this will continue to grow and will eventually run out, if so what happens is the sustainability of fiat currency? Crypto does not need this raw material because they are non-physical and no longer cost to procure raw materials.
2. Can the country detect how much money is actually in each person if they don't report it? Crypto already has a decentralized ledger and this will be very useful for tax imposition, transaction flow and prevention of money laundering and criminality

I support this statement where fiat currency requires raw material physically and this is vulnerable to counterfeiting where almost all countries have counterfeit money, but with crypto counterfeiting the currency will not occur because the ledger records transparently and validates. tax reporting can be manipulated when using fiat currency but in crypto if blockchain integration is already underway we no longer need to report, the state only needs to see all transactions and the flow of funds from someone for tax collection