Post
Topic
Board Economics
Re: What will happen if the all countries convert to cryptocurrency?
by
panganib999
on 25/10/2019, 18:48:52 UTC
Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

This would be great, cashless transactions will bring so much convenience for everyone, especially for those who are technologically inclined and advance institutions who can follow the fast-paced technological innovation and avoid physical contacted crimes and even lower cyber theft for cryptocurrency especially bitcoin are backed with blockchain which has a superior security, but the downsides are, not everyone in the world has the capability to use crypto and are not technologically inclined. There are countries that are still developing and this might be a bad idea considering their financial situation.