Deutsche Bank: cryptocurrencies will replace paper money by 2030

According to a new study from Deutsche Bank, by 2030 the demand for alternative currencies will increase significantly, whichwill lead to the disappearance of fiat currencies.

In the “Imagine 2030” report there is a chapter on globalFundamental Credit Strategy of Deutsche Bank Jim Reid recalled the problems faced by the existing monetary system in recent years. He said the increased demand for intangible assets and their anonymity will attract more people to digital currencies.

However, in order for cryptocurrencies to become morepopular, you need to solve three major problems. We are talking about doubts of governments and regulators about the legitimacy of digital currencies, as well as price fluctuations and a small penetration into global markets. Creating systems with mobile applications and plastic cards will help solve these problems.

Reid also noted that the more will beThe spread of cryptocurrencies, the more problems will arise. For example, a new financial system based on digital currencies will appear, which will depend on the availability of electricity, and will also be susceptible to attacks by hackers.

“When such a system appears, the line between cryptocurrencies, financial institutions, as well as public and private sectors of the economy will be blurred,” Reid emphasized.

Note that many states are developingсобственные криптовалюты. Так, ЦБ Франции планирует начать тестирование собственной цифровой валюты в следующем году. Центральный Банк Европы также изучает возможность выпуска государственной криптовалюты.

</p></p>