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Questions and StoriesCategory: QuestionsCan Cryptocurrency Be Widely Adopted Like Fiat Counterpart? 
15 Answers
Edward Duffy answered 3 months ago

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.

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Nnaemeka Victor answered 3 months ago

I dont know about fiat, can you enlighten me?

Kenneth Ogbonnaya replied 3 months ago

Fiat is your local currency

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Male answered 3 months ago

Yes, but only time will tell.

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Gareth White answered 3 months ago

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.

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David Matlala answered 3 months ago

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.

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Leno Jean Pierre answered 3 months ago

As the cryptoccurencies is not a tangible money and is not accepted by most countries. It will time to replaced the physical currency.

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Kenneth Ogbonnaya answered 3 months ago

Who will believe that bitcoin will be known as much as it is known today. I think it will be acceptable as fast as possible.

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Leno Jean Pierre answered 3 months ago

It can be accepted by most countries but i will take long time. Bitcoin is the cryptocurrency that most people use to Buy products online nowadays, but still many countries didn’t accept it .

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Kenneth Ogbonnaya answered 3 months ago

It will definitely be widely accepted like fiat currency. However, it will take to time for it to be widely accepted.

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Ahmad Khasan answered 2 months ago

It might. The central bank in many countries have started to encourage digital banking. It is the with the Central Bank of Indonesia. Currently, the BI has fostered digitalization of financial system. In the process, they also considered the cryptocurrencies.

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Nnaemeka Victor answered 2 months ago

Hi Kenneth, I can’t agree less. It is just a matter of time before it is accepted as fiat currency.

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Kenneth Ogbonnaya answered 2 months ago

Sure it will be acceptable world wide,only time will tell.

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Kenneth Ogbonnaya answered 2 months ago

Yes it is going to be accepted like paper currency.

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Kenneth Ogbonnaya answered 2 months ago

Very soon, I mean soonest, crypto will take over fiat money.

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Leno Jean Pierre answered 2 months ago

Times will come, the printed money will be less use to purchase goods and services online. I’m sure in long term bitcoin will dominate the words an be widely use as fiat counterpart in all countries.

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