The world is heading towards a stage where tremendous change would be there for the people to adopt, conventional use of asset exchange, money usage,energy and fuel prices etc all would be available through online mediums and on-chain forums. I may sound way too futuristic, but some of the changes been clear as broad day light. Today,offices are run by automatic screenings, paper files have been removed by computer registers and so as basic functions and transactions.
The idea to be a cashless society is already adopted in the developed nations and I just became so astonished to see that the revolution is led by South Asian countries and West Europe. The use of different credit cards rather than printed money would protect the flow of economy and damage and devaluation of currencies would bring down to significant numbers. I wonder how bitcoins and altcoins, BTC, ETH would impact those electronic form of money when the entire 80-90% of the national level economy would be under the electronic system of payment and exchange.
The inclusion of electronic money would help the international agencies, giant tech corporations, economic forums and trade partners to coordinate their own shares and employ a joint parted system upgrading to the index of inclusive monetary use. My question is whether through the implementation of the idea, will there be more chances of poverty reduction and expansion of GDP growth or booming of crypto inlcusion in the government controlled market?
Some of the technical calculations do say that, electronic systematic formation of money might create a chance for central banks and entities to come up using web3 and smart technologies as blockchain to foster the security issues. But, whatsoever, those governments now denying the access of e-payment through crypto-currencies would be obliged to some extents to validate the use of computer mining and national licensing towards public use.
The rest of the future can say the remaining possibilities. But, surely there is hope of monetary strength with such initiatives. Maybe, 5-6 years of time to adopt the whole project to be on full display.