Can Cryptocurrency Be Widely Adopted Like Fiat Counterpart?
Fiat, please clarify. I have not heard about it.
Australia must be behind the rest of the world here as I have not heard about these advancements here. People here are having issues with the fact that one day cash will disappear let alone the introduction of cryptocurrency.
I think that cryptocurrency and its acceptance and wide use may take some time, maybe a generation or two.
Everything is generational, like technology. Slowly old fashioned physical money will disappear to be replaced with cards initially, phone tapping and crypto. Everything is all going online and becoming virtual.
Fiat money is government-issued currency like the US dollar, Euro or the British Pound.
It’s going to take a while for the cryptos to fully replace or be adopted as currencies.
As the cryptoccurencies is not a tangible money and is not accepted by most countries. It will time to replaced the physical currency.