If all transactions around the world use crypto?

[Cutter Cute]

I think if all countries in the world agree to use crypto in all transactions in all fields. Is paying insurance, shopping, paying electricity bills will be as easy as flicking a finger?

Transactions using crypto can be done in all countries if all countries agree to this transaction system, all stores will need internet access and payment tools that support each altcoin, there will be many requests and that will increase the price of each altcoin.
By the way, it takes time to send altcoins to different wallets and everything takes time

[bountyecrire]

Everything would be easy yes, but governments didn't like it because then they do not have any control over taxes, they cannot print money to control inflation etc. (if they use their own currency, they can though) We will see this in 20-30 years but it is too early right now.

[Absolutep]

The truth is that i personally don't expect all transaction in the world to be done using crypto because we don't need all transaction in the world to be done in crypto before we can make something meaningful in crypto, cryptocurrency has got what it takes to dominate the world at large.

[sturec22]

I think one day this will be the only truth. Think of it like this.
If all people used cars instead of horses back when the cars were invented.
Or if all people used the internet to communicate instead of the telegraph.

[Confero]

Of course, if all transactions are already using Cryptocurrency, everything will be very easy.  One thing that is very important for Cryptocurrency transactions is the internet network.  If the internet runs smoothly, Cryptocurrency Transactions will also be Smooth, The problem now is Is the whole region in the World already affordable with the Internet?  I don't think so.  And to make Cryptocurrency as an official transaction tool in the whole world still takes a long time.

[aldenlim]

I think if all countries in the world agree to use crypto in all transactions in all fields. Is paying insurance, shopping, paying electricity bills will be as easy as flicking a finger?

If this thing or scenario would happen there will be huge network congestion and expect longer waiting time
for a transaction to be confirmed because of the number of transactions will be high and we might also expect
some increase in fees because lower fees might take days or months to be confirmed.

[Alcor]

I think if all countries in the world agree to use crypto in all transactions in all fields. Is paying insurance, shopping, paying electricity bills will be as easy as flicking a finger?

This will never happen, do not even hope. No state will ever fully switch to the use of cryptocurrency. Cryptocurrency can only occupy its niche in financial calculations in the state, and it will not be the main one. Cryptocurrency can go in the state only in parallel with the national currencies of the states.

[UNIVERSE]

I don't think so, why? This is the world, consisting of numerous societies.
I personally come from the developing country in which there are still many poor and low societies understanding of the technology. They still concern with nature, culture on each local, and also use the fiat or barter for the transaction. And the government cannot force to use crypto at all.
It may happen, but a long long time later.

[tsakf]

There will be a fiat currency system, in parallel with cryptocurrency. Governments, have problems, but I cannot say, that everything they do, is wrong.  So, government monetary policies, should exist. Fiat currency, lets government policies to exist.

[pelana vreo]

It's time we use payment using crypto, but there will be many users who are confused by this transaction system, they need smartphones and other equipment to support the crypto transaction system.
this system will reduce the level of forgery of payment documents that has always happened to date.
even banks will not provide information such as transparency that is owned by the blockchain.

[Seerge]

All will be easy with Cryptocurrency, because Cryptocurrency is here to provide convenience to the world.  Cryptocurrency is a modern payment technology, so we need to develop it and spread it widely.  However, despite the many advantages possessed by the digital currency cryptocurrency, the reality is that there are still many countries that have not received it.  So it still takes a long time for this Cryptocurrency to be received by all countries in the World.

[Dian]

I also expect that, but I don't think it will be easy and will take a very long time, and the government will not allow that to happen because the government cannot easily control crypto.

[Betim]

I think if all countries in the world agree to use crypto in all transactions in all fields. Is paying insurance, shopping, paying electricity bills will be as easy as flicking a finger?

If this thing or scenario would happen there will be huge network congestion and expect longer waiting time
for a transaction to be confirmed because of the number of transactions will be high and we might also expect
some increase in fees because lower fees might take days or months to be confirmed.

If we only consider the Bitcoin blockchain to complete transactions, then of course this is impossible, but if you consider that all transactions in the world will use different blockchains with greater network bandwidth, then it is quite possible. Moreover, it is worth mentioning that if Bakkt is launched, the number of transactions will increase significantly due to the special structure of the platform.

[Fenix]

I think if all countries in the world agree to use crypto in all transactions in all fields. Is paying insurance, shopping, paying electricity bills will be as easy as flicking a finger?

This will never happen. No state will ever give up their national money. Decentralized cryptocurrency can walk in society only along with the usual currency. Cryptocurrency itself will not be able to serve the economy of the state and will cause chaos in it because of its high price volatility.

[gotbounty]

This will never happen. No state will ever give up their national money. Decentralized cryptocurrency can walk in society only along with the usual currency. Cryptocurrency itself will not be able to serve the economy of the state and will cause chaos in it because of its high price volatility.

I cannot say "it will never happen". I think it is still possible as long as there is a chance even if the chance is rather small. It is undoubted that crypto coins are unstable and very volatile, but who knows about them in the future. Everything can change and have a chance to happen.