In the context of decentralized finance, could cryptocurrencies, with their blockchain technology, potentially supplant traditional fiat currencies as the predominant medium for global economic transactions?
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Cryptos have potential, but can’t see them fully replacing fiat anytime soon.
Fiat currencies are backed by governments; that’s hard for crypto to match.
While crypto offers benefits, global economic systems are complex and change is gradual. Fiat might not be fully supplanted, but a dual-system could emerge.
Fiat’s stability isn’t in crypto yet.
Crypto needs global trust first.
Fiat may stay for government control.