Post
Topic
Board Economics
Re: Cryptocurrency can not replace fiat currency.
by
Saint-loup
on 02/03/2020, 15:40:16 UTC
...There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future, which I hope won't happen, and even those person in provinces will also get mad if those things happen.
Many countries have now started developing their national digital currencies, which will have to replace their national Fiat currencies. In order for cryptocurrency payments to become available in hard-to-reach places, we only need access to the Internet.
I agree with you CBDC will be a game changer in the crypto currency world, because people will be educated by governments about the technology and will begin to trust it unlike nowadays.
Unfortunately we don't know what will be the impact on the "real" crypto currencies : on one hand it can trigger more adoption, on the other hand people can leave a less lawful and recent technology...
That was true because most of the people today still using the fiat currency but we need to make to introduce the cryptocurrency and now this is one of the most popular transactions on it so why they are going to use it because it has a faster transaction and also it has a less transaction fee even this is one of the greatest transaction still why they use the fiat currency because this is the most important today with the use of physical money because this is one of the money we use for our transaction and this is the money that is authorized and legalizes by the country.
What do you mean when you say "now this is one of the most popular transactions on it"? What do you call "on it" exactly? You are talking about the blockchain and the stable coins on it?
Well I don't think stable coins are the same as CBDC, most of people don't trust stable coins and much more don't know them. It will be different with CBDCs that's why I'm calling them a game changer...