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.
For me, its way to long to make crypto replacing fiat, Yes let assume that all government sees that advantage and capability of cryptocurrency but this government sector will just allow cryptos to their state and will not take to much action on it. The different nation has different problem and priorities, and I think they need to much effort to make it possible that crypto will replace fiat. Also, I feel that they will just create their own crypto and will not replace their currency/fiat.
