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It comes to no surprise that financial institutions have started recognizing the use of cryptocurrency as an asset with real value. This could be taken as a good sign that crypto will soon replace fiat money in the future.
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The subject of cryptocurrency has been making headlines recently, particularly over Bitcoin, after unexpectedly gaining considerable value in such a short span of time.
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Will Cryptocurrency Replace Fiat Money in the Future?
With a new player breaking into the scene, many are now wondering if this alternative form of money can make a huge impact to the worlds overall financial system. This may well be the case, with its rising popularity and increasing value.
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In the words of futuristThomas Frey, cryptocurrency is very much here to stay, and predicted it would replace roughly 25 percent of national currencies by the year 2030. And with the way things are going, he might be right on the money with his prediction, since he believes the way they are run is more efficient than how things are going in our current financial system.
Cryptocurrency is very much here to stay. Cryptocurrencies are going to displace roughly 25% of national currencies by 2030. Thomas Frey
In fact, we are on our way to making transactions without the use of bank notes and coins. One country has made headway by becoming the most cashless society on the planet. Sweden barely hit one percent of the value of all the countrys transactions using cash, which is impressive to say the least. The Nordic countrys citizens had generally positive reactions towards the no-cash payment policy, saying it reduces the risk of criminal activities while making it easier for customers to pay with just their card on hand.
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