Can Cryptocurrency replace cash?

Question

Taking into consideration the current condition of financial institutions, I would like to know that can cryptocurrency replace cash in the coming future?

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Martin Hope 3 years 1 Answer 15107 views 9

Answer ( 1 )

  1. Summary: According to a New research, from financial services giant Deutsche Bank, Cryptocurrencies have the potential to eventually replace cash.

    In a research report, Germany-headquartered Deutsche Bank said cryptocurrencies may have been “additions” rather than “substitutes” in the finance world thus far, but the next decade could change that as regulatory hurdles get past.

    The current fiat system looks “fragile,” particularly because of “decades of low labor costs” and inflation. Over the next decade, things could change and “demand for alternative currencies, from gold to crypto, could take off,” according to the report.

    Benefits of cryptocurrencies such as security, speed, minimal transaction fees, ease of storage and “relevance in the digital era” could help drive mass adoption in the years to come.

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