The German banking giant, Deutsche Bank, said recently that the forces that maintain the fiat money system appear fragile, and over the next decade some of these forces could begin to collapse, and the demand for alternative currencies, from gold to crypto, may rise, according to a report Imagine 2030.

According to the report prepared by Deutsche Bank for Research:

While critics encourage that cryptocurrencies are constrained by regulatory hurdles, we believe the incentives of governments and card providers make digital currencies inevitable.

It wouldn’t be surprising if a new trend prevailed.

Cryptocurrency was unexpectedly popping up in the next decade.

While cryptocurrencies have not succeeded in taking off as a means of payment despite their well-known advantages, such as security, speed, minimal transaction fees, ease of storage, and the importance they have in the digital age, this may change in the next decade.

Read:Soon you will be able to use XRP at more than 3.3 million stores around the world

Assuming that governments accept cryptocurrencies, consumers want them, and if current trends continue, there will likely be 200 million blockchain users in 2030 and cryptocurrencies may eventually replace cash.

The Deutsche Beck report stated:

According to research by data innovation group Deutsche Bank, nearly two-thirds of consumers prefer physical transfers to cash payments and a third are concerned about their identity being disclosed.

These are the two things that cryptocurrency does best.

China and India will also play a very important role, even if things are now showing otherwise, as China and India have banned the buying and selling of cryptocurrencies, but things are moving quickly.

In the meantime, the researchers emphasized that cryptocurrencies need to overcome three major hurdles to become widespread, namely:

Or not: It must become legitimate in the eyes of governments and regulators.

This means price stability and advantages for both merchants and consumers.

secondly: It should also allow global access in the payment market.

To do this, alliances must be established with key stakeholders behind mobile applications such as Apple Pay and Google Pay, card providers such as Visa and MasterCard, and retailers such as Amazon and Walmart.

Read:Man faces 34 years in prison for “mining cryptocurrencies”

Third: To envision a smooth transition towards fully digital money, the financial system must be prepared to weather any kind of blackout or cyberattack.

Meanwhile, traditional banking giant Deutsche Bank said in its report:

We believe that fiat money systems are inherently unstable and prone to high inflation, all other things being equal.

Politically, it is always very tempting to save money when there is nothing to back it up.

This current financial system has long survived and required a fortified set of global powers over multiple decades that created major powers.

According to the researchers, it is likely that inflation will become an integral part of our system and doubts about the sustainability of paper money will increase.

They concluded that:

The demand for altcoins is likely to be much higher by 2030

We can also ask the question of whether fiat currencies will survive the dilemma of politics in the next decade.

The authorities will need to find a way to offset high returns with record levels of debt.

In order to have a strong conviction that non-sovereign money will earn collective credit in the future, you have to burn the candle from both ends.

Read:South Korea’s largest trading platform Bithumb faces a lawsuit and charges against its top executives

One extreme is the irresponsibility of monetary and fiscal policy: global quantitative easing debt +.

The other extreme is society’s regression against corruption.

We have both.

– Travis Kling (@Travis_Kling) December 6, 2019

We have lived in an era of paper money since the early 1970s.

Since then, all the money in existence has only had value based on trust, and in particular confidence in the ability of governments to maintain its value.

Prior to this period, most money in existence throughout history was backed by a commodity and usually precious metals such as gold or silver.

A public opinion poll found that less than a third of Japanese citizens surveyed support the future adoption of cryptocurrency.

In the “App Times” magazine, the Japanese Ministry of Education surveyed about 3,000 citizens, the results showed that 82% of them would like to see further developments in the field of robotics.

While 80% of respondents want a future in which 5G communication networks will play a major role.

Only 30% of respondents, aged between 15 and 69, said they see cryptocurrencies as playing a major role in the future.

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