Quote from: Snappycoco on Today at 02:09:14 PM

Quote from: Baihaki Khaizan on August 11, 2021, 03:53:23 AM

In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.

Agreed specially now that the printing spree is making inflation great. I believe it might takes time to be fully implemented but I can see a bright future for it. A future where fiat isn't a thing anymore and all transactions are being done through phones. Where banks isn't popular anymore and DeFi replaced it.

I do not yet see the technical and organizational possibility to switch from physical to digital currency. In order for this to happen, it is necessary to have a high level of citizens' income. Therefore, this path is not for economically weak states. In addition, in any state there are groups of people who do not want to switch to digital currency for various reasons. This is a long process because finances don't like rushing.