Digital currency is not going away. It's here to stay.
Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat... Maybe in the new world, something gets backed by consensus.
We believe existing currencies may move into becoming more of a crypto-currency.
Gold is now money with reference to all other commodities only because it was previously, with reference to them, a simple commodity.
I think fiat currencies will become digital.
It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.
There will be an electronic currency, and it will be universal, and we must accept that fact.
