If it become fully decentralized and being well regulated. Rn it seems like builder are still trying to figure out what’s working. The triangle dilemma ( decentralized, security and scalability) then the best suited trust model as well.
Not sure it will be cryptocurrencies but maybe there will one unified currency for many countries.
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In my opinion, it will depend from country-to-country.
Yes- in countries which are facing hyper-infaltion
No- in all the developing and developed nations as most likely they will launch their on CDBCs.
If primary does not mean exclusive, then it very well might be. I think we are too used to having a go-to standardised mediums of exchange to be able to grasp the effect cryptocurrencies will have. A democratised payment system that is simultaneously the fuel for technology and applications that we will rely on, is a highly intriguing concept.
While CBDC:s is an interesting concept, is does not democratize anything, but rather the opposite. It gives rise to severe concerns regarding privacy, surveillance, and security. I would dread having a CBDC ending up in the wrong hands.
Technologies characterised by democratization, are not easily caged and controlled. See Chinas futile attempts at restricting the Internet. I think cryptocurrencies stand a better chance of mass adoption than CBDC:s.
I feel like a cryptocurrency backed by the government will become a primary form because it has 2 advantages:
1. Backed by more reputation and money
2. Easier to regulate
Though personally I'm not a fan of them
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