Bitcoin

The replacement of the currency in the traditional crypto-currency will not be done anytime soon, says Deutsche Bank

January 31, 2020 by Océane

The investment bank, German Deutsche Bank has recently shared his opinion on the evolution of crypto-currencies to a leading role on the finance. In one of its reports “The Future of Payments’, the financial institution has shared his predictions on the future of cash in the face of the crypto-currency and noted that the fiat currency will not disappear anytime soon.

The cash will survive

Aware of the dramatic evolution of digital currencies and their implications in the world of payments and finance, the Deutsche Bank has raised the issue of the great replacement of the currency with a crypto-currency in one of its reports before they announce a survival of the cash, at least for some years to come.
In the report entitled ” Cash : The dinosaur will survive “, the financial institution specifies that the currency is traditional, will remain the medium of transaction basic and formal, however, it recognises the key role played by the crypto-currency in the world of payments.
In depth, the Deutsche Bank supported his opinions from a variety of data like the opinions of people regarding the use of the money in the future. In this perspective, it is reported that 50% of people in developed countries still believe that the currency will remain the only currency sovereign to the financial system.

The crypto-currency non-sovereign threaten the political stability and financial

The notice of the rulers of the world regarding the use of the crypto-currency at the heart of the finance of a particular nation is fairly shared. In this case, some countries such as Venezuela have decided to trust this new technology to circumvent the political barriers inherent to finance traditional, while others fear a destabilization financial.
Also, Deutsche Bank tries to raise all of the facets and consequences of a hypothetical transition by explaining :

“The money is losing ground as a means of payment. Several countries have recently removed from large banknotes to a value of $ 100 or more and put in place policies to replace traditional payment methods with digital solutions. In the midst of these changes, the crypto-currency non-sovereign threaten the political stability and financial “.

What do you think of this report from Deutsche Bank regarding the future of the crypto-currency in the world of public finance ? Give your opinion in the comment section.
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Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.