Cryptocurrency could replace fiat by 2030, says Deutsche Bank

December 09, 2019 | Blockchain

Written by FinTech Alliance

Cryptocurrency could replace fiat by 2030, says Deutsche Bank

Deutsche Bank’s new report predicts the rise of cryptocurrency in favour of traditional money.

In Brief:

  • The report is entitled Imagine 2030 and looks at how the currency system will change.

  • While currently ‘additions rather than substitutions’, Deutsche Bank says this may change for 2030.

  • It points to the ‘fragility’ of fiat money.

What does this mean?

A demand for alternative currency has been driven in part by a lack of trust in traditional banking, with many preferring a deregulated system. Other factors include speed, security and a low transaction cost.

Read more here.

 

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