Quote from: tambok on October 27, 2019, 04:26:20 PM

Quote from: Yatsan on October 27, 2019, 08:59:07 AM

Quote from: Google+ on October 27, 2019, 06:13:39 AM

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.

Yes for now we can't see ourselves not having paper money yet, we still need it and it will not vanish that easily, but we are talking about the future, yes, from time to time the technology is really innovating so in the future it will be possible that paper money will vanish and we will only have digital currency as our way of medium of exchange.

First of all, I do not think that bitcoin or any crypto currency was created to wipe out paper money or fiat from the face of earth. Bitcoin just wants to help people in making good amounts of profit in short time and provide them with easy and secure transactions. It is not its fault that paper money lacks such qualities. Sooner or later, digital currencies will sere the purpose that paper money is serving at the moment.