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.
Fiat and crypto should coexist. Maybe not governments but a lot of people are prepared to embrace crypto and fiat simultaneously. To move completely to crypto certain conditions must be met, like ensure internet access to anyone from anywhere in the world. Sadly, this is still an unrealistic proposition and many people without an internet connection wouldn't be able to pay or make transactions at all.