Post
Topic
Board Economics
Re: What will happen if the all countries convert to cryptocurrency?
by
HarmonyA
on 21/12/2019, 21:35:29 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?


It is possible to convert to cryptocurrency,  but it is not possible to embrace it wholly and discard virtual currency.  Because in the places where the people are not literate, they can't run their daily businesses without virtual currency.
We shouldn't limit cryptocurrency usage within the literate class in our society,  the  illiterate population outnumber the later. So how can we cover the gap