Between Crypto and Fiats

It is not uncommon to find many crypto enthusiasts saying that the future belongs to crypto and that fiats would be totally eliminated. I always try to correct them each time that mathematical algorithms cannot be a mode of payment for some businesses no matter how widely adopted crypto becomes.

Perhaps this might not be a problem in the developed world but in the developing countries, a lot of people still lack access to the internet and some who do lack the knowledge of how to use it. To these people, accepting payment in crypto will be alien to them if they ever own any business.

Hence, there is really no way fiats can be completely eliminated in this present world. It can, however, be reduced to the barest minimum and crypto still needs to trade against a real currency that is fiat.

Perhaps if the narration changes from the outright replacement of fiats by crypto, the centralized governments and crypto antagonists will start taking an objective look at crypto and this might end in a win-win situation for everyone.

Thanks for reading.