I have been thinking about the concept of money and how it has been moving in the digital direction. We all understand the money evolution and how the changes have been but can money go fully digital?
I was talking with one of my friends who is new to blockchain and cryptocurrency many months ago and said, he does not think money can do fully digital. What he meant is, can we go to a local market and tell an old woman selling on the roadside to accept Hive or other coins as payment? I replied I don't think that can happen on this side of the world even in 20 years.
Cryptocurrency adoption is different in every country. To some people, it is a threat and some people see it as the current and the future payment system. Currently in Nigeria, trading cryptocurrencies is not a crime but, it is limited. People still run adverts of bitcoin online and no one is killing them but the mind of our current leaders are limited and that is the main problem.
El Salvador accepts bitcoins and that means any market person can easily accept but I still believe not everyone in El Salvador would like to accept digital currencies. Factors could be because of the volatility and the common old concept of money. Many people still believe money should be paper and nothing else feels like money to them.
I think paper money will remain till the end of the world because of country policies but digital currencies will be more used.