Post
Topic
Board Economics
Re: Are fiat currencies necessary in the world?
by
MIZANUR5033
on 23/09/2018, 18:11:23 UTC
Fiat currency is here and necessary because they came first before cryptocurrency. All country of the world use this fiat currency, all county legalize it. That’s why people can use it very easily and everywhere. of course fiat currencies is necessary for the world because till now we can’t provide internet all people of the world that’s why crypto can’t replace to money right now. All kinds of trade, goods are using fiat or paper money. Many country will not let and legalize it as the official digital fiat because it has a lot of risks. Government can’t legalize because it hasn’t any central control authority. No one can control itself. Government can control fiat money but crypto is different from of fiat money. If crypto legalize then government will fall government will lost the power of economics. But we need a better way of doing transaction or payment. Fiat is necessary today but maybe not as necessary tomorrow.