Cryptocurrency is predicted to win over regular money

Crypto will win money

Experts from the audit firm Deloittem in the field of blockchain and financial services predict the victory of digital currency and crypto over fiat money.

The fall in the value of paper money

The list of crypto enthusiasts was joined by financial specialists from the international audit firm Deloitte. According to the reporting data, 76% of the surveyed heads of financial institutions believe that the future belongs to crypto and digital currencies.

In the next 5-10 years, the value of paper money will fall.

Participants in the financial services market are already adjusting to new market conditions. Cryptocurrencies, stablecoins (a type of crypto whose price is tied to stocks of conventional (fiat) currencies, physical goods or precious metals), digital assets (including CBDC digital currencies) and blockchain are introduced into circulation and investment portfolio of companies. Refusing to implement and crypto-digitalization means admitting a loss in the competition with other financial structures and getting ready for a fall in the value of your assets.

Interest in cryptocurrencies is growing

Deloitte’s data analysis showed that the number of investors is growing rapidly and huge amounts are deposited in digital assets. Crypto has become a new way to save money - about 50% of financial leaders agree with this statement. Among those surveyed, 80% are sure that the industry is on the verge of fundamental changes.

Experts note that among the trends of recent years:

Companies are listening to needs and new digital trends. Among those surveyed, more than 75% agreed that the refusal to implement blockchain and digital assets will lead to a drop in the company's rating, competitiveness and profitability.

Difficulties in implementing altcoins and digital currency

Deloitte blockchain analysts and financial executives interviewed noted that despite the positive outlook for crypto holders, there are a number of complexities. About 65% identified among the problems: the lack of a clear cryptocurrency financial structure and high risks.

To realize a positive forecast, the crypto industry needs to find ways to combat cyber fraud (according to the Australian regulator, investors lost 44% more from BTC fraud in the first half of 2021 than in the whole of 2020) and hackers, strengthen the protection of personal data privacy, enter digital currency on the legislative agenda, to convey the potential of the crypt to the population and reduce the degree of tension.


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