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  Crypto instead of cash ?: Futurologists: By 2030, crypto foods will have supplanted the euro, the dollar and the like | Message | Bit Updates
Home » bitcoin updates » Crypto instead of cash ?: Futurologists: By 2030, crypto foods will have supplanted the euro, the dollar and the like | Message

Crypto instead of cash ?: Futurologists: By 2030, crypto foods will have supplanted the euro, the dollar and the like | Message

Tuesday, March 6th, 2018 | bitcoin updates

Only the beginning?

The development of the hyped digital coins is characterized by rapid ups and downs. That's another reason why numerous experts still express their concerns. But looking at the amount of money that is already flowing into this area, it is becoming increasingly difficult to ignore crypto-kowtows.

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More and more experts are discussing whether the digital tokens would be suitable as a true currency at all. While the skeptics do not want to value developments too much, some experts believe that crypto-sweets could soon completely replace established national currencies, not least because of their benefits. For example, no brokers are needed for transactions, which could reduce costs. But even the concerns are not negligible. It would take a completely new infrastructure, the transition from traditional currencies to digital coins would be extremely difficult. Cash could quickly become incompatible, so many people could stay seated on their remaining assets.

Goldman Sachs analysts released a report earlier this year stating that crypto-sweets could replace currency in countries with economic woes. In developing countries, there are often insufficient financial services and currencies are devalued enormously by high inflation. Crypto may be a viable alternative there.

Two leading Futurists also agree with this assessment, saying that one has to be careful and not to lose sight of digital currency.
"Digital coins will replace the traditional currencies by 2030"

"Cryptocurrencies will remain very long," said Futurist Thomas Frey compared to "Time". Frey is an American futurologist. Before founding the DaVinci Institute in Westminster, he spent 15 years as an engineer at IBM. He has spoken on several occasions to senior government officials, NASA, and executives at numerous Fortune 500 companies. Now he predicts that crypto-foods will displace around 25 percent of national currencies by 2030. Because they are a lot more efficient. In September of this year, the futurist will talk with the US Federal Reserve about its forecasts.

Also Dr. James Canton of the Institute for Global Futures agrees with Frey. The rise of many digital tokens means the "legitimacy of a new asset class." "I would say that exponential growth in new investment opportunities for cryptocurrents is expected," Canton continued. Futurist enhances companies and helps them to recognize and benefit from complex changes and opportunities in the areas of technology, business or even globalization. Canton has already worked for leading organizations such as IBM, Apple, Deloitte, McKinsey or even Siemens, and also advised the Weie Haus.
Importance of digital coins should not be neglected

"I see crypto investments as traditional investments in stocks and bonds that go through cycles," says Canton. Frey also believes that if people like Christine Lagarde, the executive director of the International Monetary Fund, have said that crypto foods could supplant central banks and international banking, then it should be taken seriously.

The digital coins are also extremely attractive, because there is little supervision and hardly any fees. However, Canton believes governments will play an important role in this regard in the future. Transactions have so far been largely anonymous, but that will change. Governments should impose stricter rules on the digital talers, but they would also ensure that innovations in crypto-sweetening are accepted and promoted. Too much regulation, however, could be harmful in his opinion.

Editors finanzen.net

You may also be interested in: finanzen.net Buying Bitcoin – That's how it works

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