Bitcoin And Crypto Could Reportedly Replace Cash, Deutsche Bank Says
Bitcoin and crypto had a great 2019 so far, despite the huge volatility that’s been plaguing the crypto space all year long.
Regardless of the prices of digital assets, the projects behind them have been evolving, and the crypto space marked various achievements.
One of the main goals of the industry is the mass adoption of crypto and the underlying tech, the blockchain, and things have been going in the right direction.
Deutsche Bank says crypto could replace cash
There’s a new report from Deutsche Bank that says cryptos could transition from being a cash alternative to a full-blown replacement over the next decade.
The report is trying to predict future trends in the world of finance, and they call the crypto the 21st-century cash.
“Until now, cryptocurrencies have been additions, rather than substitutes, to the global inventory of money. Over the next decade, this may change. Overcoming regulatory hurdles will broaden their appeal and raise the potential to eventually replace cash,” the report says.
The same report goes on and highlights increasing inflation as a potential catalyst for the rise of alternative forms of money like Bitcoin.
Sustainability of fiat money will one day be questioned
The notes mention the fact that there’s a possibility that inflation will become more and more embedded in our system, and this will reportedly lead to doubts rising about the sustainability of fiat money.
“The demand for alternative currencies will therefore likely be significantly higher by the time 2030 rolls around,” according to the same report.
The notes continue and pose a viable question: whether fiat currencies are able to survive “the policy dilemma that authorities will experience as they try to balance higher yields with record levels of debt?”
The report calls the question above “the multi-trillion dollar (or bitcoin) question for the decade ahead.”
We recommend that you check out the complete report because it’s more than interesting.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.