Today as we modernize some of the aspects in the economy like in the production wherein pneumatic machinery are being introduce. Thus, innovation has already prove its efficiency in the production which lowered the production cost. In the areas of transportation, there are cars also being introduced that run by a battery and efficient also and economy in terms of expenses maintenance compared to gasoline powered cars. Other than that there are already other inventions that promote the comfort of living in life. Thus, digital currency is another innovations. Could you consider bitcoin as the new innovations for fiat money? The answer will be used in my research term paper for the adaptation of unified digital currency that could be used by the people around the world.
Of course it is an innovation, if you take the time to look at the history of money you will see that money has gone through many transformations, at first people used barter, then they used commodity currencies, then coinage appeared, after that paper money was created, then digital money and now after thousands of years of history cryptocurrencies have been created.