In my opinion, cryptocurrency will take over the old fiat payment system.
The Wikipedia definition of fiat money states fiat money is a type of money not backed by a commodity. A government declares its decree. A formal and authoritative order decides a fiat’s value.
The monetary system is in the process of a permanent transformation. Physical paper and coin money are turning into digital currency. Paying bills online, using debit cards as cash, and more companies accepting cryptocurrency payments, a person would have to choose to be ignorant of the rollout of the new payment system.
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