Deutsche Bank’s top strategist is presuming that the end of the banknote not far is not far.
Bit coins were originally developed as a P2P system that releases users from the collapse of wealth due to debt convergence of national currencies and inflation. Despite its phenomenal growth, most mainstream financial analysts criticize that they will not be adopted as currencies used for daily transactions.
According to a business insider report, Deutsche Bank strategist Jim Reid believes that the current monetary system will collapse within the next 10 years and create a climate that will encourage the creation of an alternative currency system.
He is making a shocking claim in recently published research papers and the current monetary financial system that began when the US President Richard Nixon separated the dollar from money in 1971 essentially It is insecure and claims to have a high inflationary tendency. The effects of inflation corrosion are overwhelming in the major economic markets, mainly due to the rapid growth of the Chinese economy and the working population of the world. He states that these factors have created a situation in which central banks control inflation from outside and prevent wages from rising too rapidly.
He expects the central bank to seriously consider the transition to a financial system supported by commodities over the next decade and defend the gold bugs alienated by mainstream financiers.
Many bit coin supporters believe that digital currency is necessary for the advent of the digital era. Mr. Reid predicts that the crypto currency and other media may ultimately replace bank notes and that the new system is based on bit coins.
“The current speculative concern of the cryptographic currency is more concerned with block chain technology than the loss of credit of bank notes but at some point there is a possibility that a banknote conflict with a median of more universal transactions It is high “.
The central bank in the world is considering issuing its own digital currency. ~ Do you want to enter into a cashless era?
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