So-called futurist, Thomas Frey, looks forward to a—well—futurist future where fiat money no longer exists.
“Cryptocurrency is very much here to stay [and] are going to displace roughly 25% of national currencies by 2030. They’re just much more efficient, the way they run.” —Thomas Frey
Bitcoin is thought to be both a virtual currency and a collection of value, and although it has progressed as a payment method, it isn’t yet an option at a lot of American and UK e-commerce businesses or regular shops.
He argued that the IMF—International Monetary Foundation complains about the amount of electricity used to generate bitcoin. He added that cryptocurrency could potential disrupt the financial institutions.
“When people like Christine Lagarde say cryptocurrencies could displace central banks and international banking, that’s very significant.”—–Thomas Frey
Mr. Frey is to meet US Fed officials in the next coming months to discuss the issue of cryptocurrency and real estate in relation to their mutually inclusive dealings.
“Our children’s children, who haven’t even been born yet, are counting on us to make great decisions!”
He isn’t the only one; other futurists feel the exact same way about digital monies and how the role they play in the financial world.
Mr. James Canton of the Institute for Global Futures has made a comparison between the new asset class and stocks and bonds, by stating that digital currencies are similarly a cyclical market, one that will end up in declines and “possibly … vast riches.”
Regardless of the volatility, he recommends “it’s a worthy area for people to experiment with their investment portfolios really carefully.”
Investors are gradually getting the opportunity to do so, as Canton forecasts a rising number of “investment vehicles to come from crypto finance.”