November 26, 2020

Deutsche Bank study: cryptocurrencies will completely replace fiat

Deutsche Bank study: cryptocurrencies will completely replace fiat

According to a recent study by Deutsche Bank analysts, the demand for alternative currencies continues to grow. According to bankers, by 2030, cryptocurrencies will completely replace fiat.

In a report called “Imagine 2030”(imagine 2030) Deutsche Bank's chief strategist Jim Reid described the problems that the financial system has faced in recent years, in particular the cryptocurrency problem. According to him, the increased demand for digital payment methods and anonymity can push many people to use new payment methods.

At the same time, Reid noted that general acceptancecryptocurrencies will cause even greater problems. Among the main threats to the digital financial system, the strategist noted electricity dependence and vulnerability to cyber attacks.

Meanwhile, governments around the world are activelydiscuss the possibility of developing national cryptocurrencies. As previously reported, the Central Bank of France recently announced the start of testing its digital currency (CBDC) in 2020. In addition, according to a statement by the central bank of Turkey, in 2020 he will also test the use of digital lira in the country.

According to the materials cointelegraph.com