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What is the future of currency? Fiat or Crypto

What is the future of currency? Fiat or Crypto

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Answer #1

Answer: Crypto

Fiat money is the legal tender of the US and it is not backed by any commodity like gold. The value depends on supply and demand of paper currency.

On the other hand, Crypto is the digital currency that is popularly known as Bitcoin. Transactions could be done digitally through this currency. There is no centralized control. Transactions through Crypto may increase the demand of products, since the use of it is very simple. Crypto is a component of M1 category money supply, since it comes from narrow measure.  

Few economists say that Fiat money can’t control inflation of the country complete, which is increasing by 2% in each year. Increasing use of Bitcoin and failure to control inflation by Fiat money, we can expect that Crypto will take place as currency in future.

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