Crypto-currencies will be the most used payment method in five years, according to an IMF survey

Share this article:

Crypto-currencies will be the most used payment method in five years, according to an IMF survey

Crypto-currencies will be the most used payment method in five years, according to an IMF survey.

A survey conducted by the International Monetary Fund (IMF) via Twitter revealed that most people think that in 5 years, the most used payment solution will be cryptocurrency.

The official Twitter account of the IMF conducted a survey on April 10, 2019, asking “How do you think you will pay for breakfast in 5 years?”.
The survey counted nearly 38,000 votes, and the winning option was cryptocurrency.
Secondly, there were the payment applications, then debit cards and finally cash.

The poll received comments from the XRP fan community, the popular crypto-currency of the Ripple blockchain.
XRP is currently the third largest digital currency after Bitcoin and Ethereum and is aimed primarily at helping financial institutions conduct fast and profitable high value cross-border transactions.

Crypto-currencies have many online advocates, especially on platforms such as Twitter and Reddit.
They believe that digital currencies can replace fiduciary money in the years to come.

BEST-CRYPTO-TRADING-BOTS

Although regulatory approvals for cryptography-based products are still under discussion, they will likely remain so until the marketplace gains clarity and improves transparency.

In this regard, Christine Lagarde, Executive Director of the IMF, recently stated:
“I think that the role of disrupters and everything that uses distributed accounting technology, whether it’s called crypto, assets, currencies, or whatever… it’s definitely shaking up the system.”

Although there is a lot of enthusiasm for crypto-money in networks, some of the most influential people in the cryptosystem believe that they have not yet solved the fundamental problems of mass adoption.
For example, Brian Armstrong, CEO of Coinbase Cryptocurrency Exchange, believes that the massive adoption of cryptoactives will depend primarily on volatility, scalability and ease of use.

The IMF had already published a study in June 2018 (Money transformed) which went unnoticed and discussed the evolution of money and payment solutions.
The study clearly showed that the future of money is Bitcoin and cryptocurrency.

Visit the IMF website to read these very interesting studies and information:
https://www.imf.org/external/pubs/ft
/fandd/2018/06/index.htm

or download the PDF of the IMF study on the evolution of money, the decline of fiat currencies that will lead to the generalization of Bitcoin and cryptocurrencies:
https://www.imf.org/external/pubs/
ft/fandd/2018/06/pdf/fd0618.pdf

If the IMF itself sees the advent of Bitcoin and cryptocurrencies, it is certainly a sign of major economic and financial changes in the coming years!

TO READ ALSO: