Quote from: Abiky on Today at 05:37:11 PM

Quote from: AndySt on December 16, 2020, 11:51:06 PM

Digital currency should not serve as an alternative to fiat currency at all, and in the case of issuance by the central bank of the state, the digital currency simply becomes a form of fiat currency. States can experiment as much as they want with bitcoin and other similar alternative currencies, but the main bet will always be on their own digital currency. As for the rejection of cash in the near future, it seems that such things can happen in small states, but in large countries, the cash currency will be preserved in the near future.

Exactly. Crypto will never replace Fiat because of its decentralized nature. Governments will want something they can control in order to manipulate the public. This is better achieved with Fiat than anything else. As long as governments continue to rely on central banks for the issuance of new currency, Fiat won't be going anywhere. As far as physical cash goes, I believe it'll be here to stay for a very long time. The world is not ready yet for complete digitalization. There are areas where there's no Internet access, limiting banks' ability to circulate CBDCs to the public. If banks seriously want to phase out physical cash, governments are going to need to provide Internet access for all. In third-world countries where most people are poor, this becomes quite a challenging task. The main issue would be making old people use CBDCs on top of physical cash. They won't change their ways even if technology promises to improve their lives for the better.

Nonetheless, phasing physical cash is time-consuming but not impossible. Slowly but surely, CBDCs will be introduced until they completely replace physical cash. In other words, CBDCs will co-exist with physical cash for quite some time. Crypto will still be relevant since people will use it as an alternative to Fiat. Its main selling points will be decentralization and censorship resistance. With how big crypto has become, it seems to me that it'll co-exist alongside CBDCs for many generations. Phasing out physical cash will truly depend on how fast people adopt digital payments in the mainstream world. Just my opinion

You are partially mistaken, and rely on an erroneous concept. Let me explain - fiat does not allow full control of the population. But, for example, the digital card system allows you to do this much better. All your transactions become transparent, available for control and monitoring. At every step - whether you buy a condom in a vending machine or a car in the salon - transactions linked to your account are archived and can be picked up for verification at any time. Moreover, the check can be any - from identifying your location to monitoring the balance of your income / expenses. Therefore, the transition to blockchain and the departure from fiat, just increases the level of control by the state, which is why the state is more interested in the transition to digital technologies.
Yes, the only thing I will clarify is that the blockchain in the implementation of the state will be the same centralized system, with the advantages of blockchain technologies.