We live in a world that never stops
changing. Almost every day, there is something new in a certain field
of life, trying to get our attention and gain our trust.
When the change is useful and easy to
comprehend, we have no problem accepting and gladly rush into finding
out more about it. However, when we need to make a change regarding
something important like, for example, money, we will highly likely
A perfect example of this is the crypto
vs fiat war, which is still going on across the world.
While new generations think of cryptocurrencies as the future, those
a bit older still can’t part ways with their beloved fiat
We have done some digging and found some predictions regarding both of these currency types. To find out what people think of them, stay on this page and keep reading.
Money of the Future
When the first cryptocurrency appeared
several years ago, people considered it the greatest invention in
recent years. While the news about it spread fast, some had no idea
it even existed.
Timothy Lane, the Bank of Canada’s
Deputy Governor, thinks that cryptocurrencies should become the money
of the future. However, since that hasn’t happened
yet, it is highly unlikely it will happen in the future.
The reasons that made him think this
way are multiple. Lane mentioned that although cryptocurrencies
created a boom when they appeared, the ecstasy didn’t last long. As
a governor of a bank, it was his job to closely monitor the
development of cryptocurrencies and see whether or not they could be
beneficial for Canadians.
After some time, Lane noticed that
making transactions in cryptocurrencies like bitcoin or libra is very
expensive. Also, by following the changes regarding cryptocurrencies,
Lane noticed that their purchasing power is not so stable and cannot
be easily predicted.
The governor concluded that fiat
currencies are still the primary ones and that the world doesn’t
intend to completely switch to…