Bitcoin Will Complement Fiat
Enthusiasm Subsides
The Bitcoin "craze" has subside, users have seen Bitcoin's capability and how it can be used in different ways.
Bitcoin is not immune to be used for illegal purposes.
Just like a normal money or currency Bitcoin can be used for illegal purposes such as using it as a medium for scam and any other illegal transactions.
One of the most sought after benefit of Bitcoin is it gives unbanks access to financial services. One of that financial services is money transfer, also, you can use Bitcoin as your own personal bank.
Global Currency/Money/Fiat?
Many said that Bitcoin will be a global currency replacing the dollar and will become the currency of every country.
Bitcoin is already a global "digital currency". Does it already replaced the Dollar or a currency of any country? Not yet.
I can see that bitcoin will complement fiat. Bitcoin will have its significant share in the money transfer market and banking industry.
Fiat is the term for state issued money or currency.The US Dollar, Japanese Yen, Chinese Yuan, British Pound, and the Euro are called Fiat.
Bank to Unbanks
It will have its share in banking. It will give banks to unbanks, giving them the capability to transfer funds anytime at the comfort of their home by using a mobile phone or computer.
You can use Bitcoin to transfer Bitcoin anytime.
A Complement to Fiat
Bitcoin will complement fiat. In the Next 20 years it will adapt. But it will be hard for Bitcoin to completely replace Fiat in every country around the world.
I can see that cryptocurrency will be the number one choice for money transfer all around the world because of the convenience it offers that is unmatched by any financial institution.
This is already becoming a reality specially in Philippines via coins.ph
I have transferred btc, eth, bch on my coins.ph and using it to spend in the Philippines.
With the upcoming product of coins.ph like the "beep" I think and also maybe they have a card already for eftpos and the adoption of retailers there will be no need to physically hold that fiat peso anymore.
You are correct sir and speaking of coins.ph they are doing a great job, coins.ph is the only one that I use to transfer/encash my eth, btc, and bch.
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