in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?

It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.

From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.

in the present, fiat currency is of course indispensable, because which government is willing to give up control of the country's economy, because the fiat currency of the government can still regulate the money in circulation and can collect taxes on businesses, the government can also intervene in the value of the currency The community also seems to be in dire need because the traditional buying and selling system requires the perpetrators to use the currency of the existing country.

In my opinion in the future, the currency will simply become digital, for the reason that most countries are developing their stablecoins instead of joining efforts and creating an international cryptocurrency!

but if I think that in the future the fiat currency will not be replaced, because fiat currency is very important for the country because it has become a symbol of the country too. and even though there are already lots of digital currencies but they cannot replace paper currency or fiat

in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?

It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.

From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.

Fiat currencies have been with us for several years and have done so well. However, the popularity of fiat currencies is reducing with the development of digital currencies which is expected to make financial life easy for people. The use of fiat currencies will continue to drop as more people use cryptocurrency.