Deutsche Bank predicts cryptocurrencies will replace fiat by 2030
According to research by Deutsche Bank, the demand for digital currencies will grow steadily over the next decade, and as a result, they will completely replace cash..
IN report Bank strategist Jim Reed describes the serious problems facing the current currency system, which became more evident with the advent of bitcoin. In his opinion, the increased demand for electronic means of payment and anonymity stimulates citizens to use digital currencies..
Reed points out that there are three major hurdles to overcome for cryptocurrencies to be universally accepted: adoption by governments and regulators, exchange rate stabilization, and global reach in the payments market. Cooperation with payment systems and leading mobile applications will further contribute to the development.
Despite the overall positive outlook, the strategist noted that with the transition to a new type of money, new problems will arise. He identified dependence on power supply, cyber attacks and digital wars among the main threats. Reed also believes that as cryptocurrencies are adopted, the line between the public and private sectors could blur..
Previously Deutsche Bank also pointed out, that the aggressiveness of central banks makes bitcoin more attractive.
Deutsche Bank Predicts Cryptos Will Replace Fiat By 2030
text: Ivan Malichenko, photo: Shutterstock