06 Dec Deutsche Bank predicts cryptocurrency could replace fiat by 2030
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Deutsche Bank has published its outlook for the decade ahead, predicting growth in appeal of cryptocurrency given the fragility of fiat money.
The ‘Imagine 2030’ report highlights the dangers of the forces holding the fiat money system unravelling in the next decade, in turn fuelling the demand for crypto.
Deutsche Bank describes cryptocurrencies as “additions rather than substitutions”, but believes this may change by 2030.
Given the aging population, labour costs, which have been low for decades, could increase, bringing an end to generations of low inflation and signalling a return to the “rampaging late-1970s peak”.
This will drive demand for alternative currencies, while fiat money will be tested by governments and central banks wrestling with higher inflation and the policy decisions that come with it.
Deutsche sees the potential in cryptocurrencies taking off a payment method given the advantages of speed, security, minimal cost and “relevance…
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