Role of cryptocurrencies in the global financial system

[Debashis]

How do you foresee the role of cryptocurrencies evolving in the global financial system over the next decade, and what potential benefits or risks do they pose to traditional currencies and financial institutions? Given the increasing adoption of cryptocurrencies by individuals, corporations, and even some governments, discuss the potential impact on financial stability, international trade, and monetary policy. Explore the nuances of digital currencies as a means of financial inclusion and empowerment, as well as the regulatory challenges that may arise.

 

[Riberet19]

How do you foresee the role of cryptocurrencies evolving in the global financial system over the next decade, and what potential benefits or risks do they pose to traditional currencies and financial institutions? Given the increasing adoption of cryptocurrencies by individuals, corporations, and even some governments, discuss the potential impact on financial stability, international trade, and monetary policy. Explore the nuances of digital currencies as a means of financial inclusion and empowerment, as well as the regulatory challenges that may arise.

I believe that cryptocurrencies and blockchain technology will continue to integrate little by little into the global financial system, since they have proven to have advantages for both individuals and companies, but they also need clear regulation and that will slow this process down a bit, but I believe that its adoption curve and therefore global acceptance will continue its course.

 

[Ja Sa Bong]

The global financial system with governments are fighting cryptocurrency and its blockchain technology because they feel threatened by what power and influence cryptocurrency have and how it's going to dominate and dictate what happens to fait currencies. This is why cryptocurrency is yet to be accepted worldwide and it may not happen.

 

[Nomad]

Bitcoin, the first cryptocurrency, was created in 2009. It is not one of the top 10 assets by market cap. So, you can understand how powerful crypto is in terms of global wealth. A lot of people believe that crypto will become the number one asset by replacing gold in number one position and Apple in the number 2 position.