In today’s cryptocurrency market, cryptocurrencies adapt to the needs of the digital economy and the sharing economy. It is an integral part of financial innovation. The history of these innovations is not long and changes quickly. Everyone needs a lot of time to study and observe them. So, in the future, can cryptocurrencies really replace traditional currencies?
The IMF study believes that the legal currency has a natural advantage for individuals, but central banks cannot afford peace of mind. If the legal currency is to be successfully challenged by cryptocurrency, it must maintain the effectiveness of monetary policy. At the same time, monetary policy makers must also actively respond to the new demands brought about by changes in the economic structure.
Historical factors are very important. If a commodity has been used as currency for a long time, it will be recognized by people as time goes by. If people think that they are valuable, then they are valuable. . When people’s expectation of monetary value changes, the currency itself will change. For example, if MOD is recognized by everyone and everyone thinks it is valuable, then it will have value. We should first understand the history of cryptocurrency, its use for people, and people’s expectations for it.
Today, no matter who is the cryptocurrency or the traditional currency, who can gain the trust of everyone? Who can we trust? In this uncertain world, the choice is often a very difficult decision. As people’s subconscious changes, the various currencies that people use may shift with time. This question is related to your recognition of its value. If you receive an INT transfer, what do you want to do? Where do you go to buy what you need? People can chat with people and socialize in parks, on the phone, on Facebook. The economic value of parks, telephones and Facebook will also be affected.
In general, we believe that the legal currency has a natural advantage, but it does not believe that cryptocurrency can replace the legal currency. At the same time, it cannot negate the existence of certain illegal currencies. Under the background of the development of the sharing economy, will there be some platform currency in the future, or a cryptocurrency widely used on some individual platforms? This cannot be ruled out either.
Therefore, it is too early for us to judge this issue.
Articles transferred from:https://medium.com/@18229702811/will-the-cryptocurrency-replace-the-legal-currency-6f1e47761574