Imagine a world where businesses, merchants, and everyday people use crypto as the only medium of exchange. Everything will operate autonomously and decentralized without the need for third parties. In this world, governments and big corporations might cease to exist as everything will be guided by both Blockchain technology and AI. People will be able to gain autonomy over their own money, reducing corruption and fraud in every way possible. Negative events in the mainstream world will have little to no effect on the world's economy, as it lives in cyberspace. No one will be able to control people's actions worldwide, as it'll be a "free for all" scenario. Central banks will no longer be relevant, as people will become their own bank via the use of various interconnected Blockchain networks.
While all of this seems to be more of a dream than anything else, there's a possibility it could happen in the future if people lose trust in governments, central banks, and conglomerates alike.
What are your thoughts?
Even though there are many people who do not like to rely their assets to the government and banks, I don't think it is a good idea for them to cease. There should always be someone in position to manage and arrange everything in order, this is where government applies. What I think needed is to change some government to have good governance over the people, in managing the economy as well as in monitoring every people's asset without the power to take over someone else's property. How it will happen, that I do not know. Also, banks are important for people who would like to take over their assets to something reliable and will take accountability. While all of this seems to be more of a dream than anything else, there's a possibility it could happen in the future if people lose trust in governments, central banks, and conglomerates alike.
What are your thoughts?
This I think is the reason why cryptos were made is to offer an option for some people but that doesn't mean it should take over the economy as a whole.