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.
It is almost impossible to replace the fiat currency with crypto because they have different backgrounds. Right now the crypto market represents the fact that thousand of people are able to believe in one and the same thing, crypto coins, but there is no way to replace fiat with crypto coins. (What if FIAT becomes crypto??).