Bitcoin, cryptocurrencies to eventually replace fiat: Deutsche Bank’s study

Can cryptocurrencies ever replace fiat? This has been a subject of debate for many years now. According to Deutsche Bank’s latest study, the answer could be yes. Deutsche Bank’s analyst Jim Reid’s new study, titled ‘Imagine 2030‘, stated that Bitcoin and other cryptocurrencies could eventually replace the established Fiat currency system by 2030.

“Overcoming regulatory hurdles will broaden their appeal and raise the potential to eventually replace cash.”

The research pointed out that cryptocurrencies have always been “additions”, rather than “substitutes, to the global inventory of money”. After a decade of Bitcoin’s inception, cryptocurrencies have not managed to take off as a means of payment despite their well-known benefits, such as security, speed, minimal transaction fees, ease of storage and relevance in the digital era. The research noted the fading confidence of the people on the legacy institution, and stated,

“The forces that hold…