Is cryptocurrency the future of finance in your country?

[albon]

It will be hard to see crypto as the primary means of payment anytime soon. As you are earning btc and converting it to fiat instantly. After all, they will switch to stablecoins because it is practical for them. But at the end of the day indirectly they will help balance the market so that the value of crypto usage is not lost. Cryptocurrency will be considered as a good part of the money of many countries in the future. So cryptocurrency has the best potential if businesses and governments can work together with its trust and support.

[Rruchi man]

It will be hard to see crypto as the primary means of payment anytime soon.

We may not even witness it in our lifetime, or maybe at the end of our lifetime, but it is not something that we should hold in expectation of happening soonest. You are still one of the early pioneers of cryptocurrency, even though you just joined, because we are witnessing the early stages of its development and growth into something bigger. Before cryptocurrency can be the future of finance, it has to gain acceptance and then adoption. We are still at the level where it has to gain acceptance.

[bitterguy28]

We may not even witness it in our lifetime, or maybe at the end of our lifetime, but it is not something that we should hold in expectation of happening soonest.

especially if your country is not one of the most advanced when it comes to finance and technology a lot of third world countries do not have much awareness or opinion about crypto so it would still take a long time

You are still one of the early pioneers of cryptocurrency, even though you just joined, because we are witnessing the early stages of its development and growth into something bigger.

many people might think that crypto has already reached its peak development but there are still many things to do and some countries have a lot to catch up on so when cryptocurrency is spread all around the world, you can definitely say you were here when it was first starting out

[bisdak40]

Crypto plays a significant role in finance in my country. It helps make remittance services cheaper and faster and also serves as a means of investment. However, I don't see it fully replacing traditional finance in my country. Instead, it can contribute to creating a more diverse and digital financial ecosystem.

[0t3p0t]

Crypto plays a significant role in finance in my country. It helps make remittance services cheaper and faster and also serves as a means of investment. However, I don't see it fully replacing traditional finance in my country. Instead, it can contribute to creating a more diverse and digital financial ecosystem.

Agree. Cryptocurrency is still not a big thing here in our country because majority are still in the traditional way of investments and banking but the thing is that remittances that you have mentioned helps the economy in a small percentage but atleast it contributes growth. It still needs more time for it to become mature and fully adopted by the masses but it actually is doing great even though it has been involved in illegal activities in the country that involves foreign scammers and other syndicates.

[MUGNIA]

I think it will never become a currency, because the government believes more in their fiat even though it is worthless in the world's currency $, moreover, crypto has many types so none of them can be verified as a currency in one country, especially if that country has great power in the world

[Themepen]

Crypto plays a significant role in finance in my country. It helps make remittance services cheaper and faster and also serves as a means of investment. However, I don't see it fully replacing traditional finance in my country. Instead, it can contribute to creating a more diverse and digital financial ecosystem.

I also think cryptocurrency can greatly improve finance in any country. It makes sending and receiving money cheaper and faster and people can also invest in it. But I do not think it will completely replace traditional financial system. Except this I believe cryptocurrency and traditional finance can work together to create better and more better financial system.

With using digital currencies any country can bring new ideas help more people access financial services and can give more options. System that combines good things about traditional finance and cryptocurrency can make financial system stronger and more stable.

[DrBeer]

I have to disappoint everyone... Cryptocurrency, in the form of a decentralized financial system, will never be the financial system of the STATE.
The problem is the structure of the STATE.  I emphasize the word STATE for a reason, because it is a purely CENTRALIZED system. That's the main reason. The second reason, probably more important, is that money management allows you to keep power in the country.

Therefore, the short conclusion is that if there is a state, as it is understood today, there will be no decentralized financial system !

[0t3p0t]

I have to disappoint everyone... Cryptocurrency, in the form of a decentralized financial system, will never be the financial system of the STATE.
The problem is the structure of the STATE.  I emphasize the word STATE for a reason, because it is a purely CENTRALIZED system. That's the main reason. The second reason, probably more important, is that money management allows you to keep power in the country.

Therefore, the short conclusion is that if there is a state, as it is understood today, there will be no decentralized financial system !

Correct! The government does not allow that to happen it is because they want full control of our assets and properties. Decentralized financial system only works for few privacy concerned citizens like us and the government doesn't care about our legacy and principles because we are just minority and our system still has loopholes, I don't know if that was the proper term for that but yeah this is the reason why criminals love crypto.

[Agbe]

Well, My country at first doesn't seems to agree with the idea of her citizens engaging in operations with cryptocurrency. However, as time goes on, it's started getting clear to her that cryptocurrency has came to stay and doesn't have a choice than to approve it operation with some certain cautious and guidelines.  Following this statistic, I guess I will be right to say cryptocurrency will get stronger with time in my country just the way it has reached this stage thus far.

No matter how hard the government fights to stop the use of crypto currency the more unstoppable it becomes, take a look at how airdrops has made a lot of people interested in crypto currency, Blockchains are now recording high amount of users on a daily basis, this is indeed the currency of the future. Just like you said it can only get stronger with time because it has a global influence

[_act_]

We can t pretend to say we don't know the way of how bitcoin in cryptocurrency has been made a mainstream of making payment in some region all over the world, not to talk about it global acceptability, adoption as a legal tender and the individual use where necessary and applicable, very soon we are getting there, whereby bitcoin will be more recognized than before and be the most acceptable means of payments.

[Hatchy]

Yes, the future of crypto depends on how the government handles it, and whether more people and businesses get on board. Right now, the regulation in most countries might be slow though and until more merchants and the general public supports it, crypto can not fully take over as the future of finance. Adoption is the only key and while some countries, like the U.S., are showing progress, others still need time to catch up. So, it is not guaranteed yet but with more support and fair regulation, crypto could definitely have a bigger role to play in the nearest future.