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The report aims to predict the future trends in the finance world. It calls cryptocurrency the cash of 1st century.
Till now, people have always considered cryptocurrencies as an addition rather a substitute to the worldwide money inventory. But, in the coming ten years, it will definitely not be same.
Once the regulatory hurdles are overcome, it will lead to the rise in the appeal and potential of the cryptocurrency which will eventually lead to the replacement of cash. The report further states that the rising inflation will work as a catalyst in the rise of the alternative monetary forms such as Bitcoin.
With time, it will be seen that inflation will get more and more deepened in our economy and there will be heavy doubts about the fiat money sustainability. The demand for alt currencies hence will surely see a significant increase. Thus, higher demands will roll in by the year 2030.
As fiat currency is likely to face more and more policy dilemma, the regulators and authorities will try to match the greater yields with recorded levels of debt.
Can fiat currency face it? It is a million-dollar question for the coming decade.
Speaking about the speed of adoption, the reports state that there could be over 200 million blockchain wallet users till 2030.
With the assumption that governments will back cryptocurrencies and costumers will want them, adoption rates will rise and bring it to mainstream use. There has been a great increase in the adoption rates of blockchain wallets.
It is surely in its initial phase but the rise will rise in the coming time. And, if the present trend continues, there will be over 200m blockchain wallet users in the year 2030, currently most crypto investments are specualtive trading happening on exchanges such as CEX or through brokerages like Royal C Bank, slowly but surely thousands of people per day are simply purchasing crypto through blockchain wallets, the report states, as an investment.
Can fiat money survive even after the humongous rise of cryptocurrencies? Will fiat money lose its power amongst people? Can the addition money substitute and replace cash currency in the coming decade? We hope, time will answer all these questions very soon.