Post
Topic
Board Economics
Re: Effects of Cryptocurrency Adoption
by
Lorence.xD
on 27/05/2023, 13:45:21 UTC
The adoption of cryptocurrencies is certainly expected to make it easier for users to use or transact directly, unfortunately currently there are too many obstacles and challenges that make the adoption process slow, in my opinion the most important thing is to immediately legalize cryptocurrencies so that they can be easily developed and equivalent to fiat.

Government are not ready to face the challenges like issues when they legalized cryptocurrencies for people to use. Of course a lot would be curious and might prefer to use it due to its more convenient. However, if we look at it if people jump to crypto then the current fiat money would worth less and might cause the economic status of a country to fall. Just like the US, USD is widely used as transactions plus their economy is strong so once people preferred to use crypto then it might impact the economy. But we all know that US are slowly acknowledging crypto which is actually good.