The prospects that are offered by cryptos are numerous. The convenience that cryptos provide in terms of payment and value handling is exceptional. The fact that one can keep all his assets in his smartphone smartly completely locked out from the rest of the world and can spend them anywhere with ease makes cryptos attractive in the eyes of the public. But the important question that arises from all these facts is this, is crypto going to replace fiat sometime in the future? The answer, maybe.
Different experts have different opinions regarding the role of crypto in the future crypto market. While some believe cryptos will have blended outcomes with fiat, others think they might even replace fiat completely. The Chief Executive Officer of Webchain/CoinIMP and ABC Hosting Ltd., Artur Makowka, belongs to the latter category. Talking to BlockPublisher, Artur stated:
Not in next few years, but in distant future – yes. I think people don’t see one use case for crypto that will revolutionize how we are looking at them. This is something that many crypto specialists talk about, asking – why use crypto for ordinary citizen? What problem does it solve if he switches to crypto?
Artur seemed to imply the same factor for large-scale crypto adoption as many other experts in the crypto space, use-cases. Until and unless people don’t find strong use-cases for cryptos, it is really hard for them to pivot from an already established working fiat framework. Use-cases give the general public a strong reason for adopting this drastic change.
As of yet, cryptos are only considered a source of gaining profit by most of the public. If crypto is to gain large-scale adoption in the mainstream financial market, it needs to present forward strong use-cases so that instead of treating it as a profit-gaining tool, people start using it as an actual currency.
Regarding use-cases, Artur also stated Webchain has a project in development that is aimed to increase the public adoption. Replying to the questions posed above, Artur stated:
As we see nowadays, plenty of cryptos are floating around in the market, but will all of them survive the trials of time? The answer, maybe no. As suggested by some experts, only the major cryptos are most likely going to get adoption from the public. If others are to survive, they need to present strong use-cases with actual real-life implications, otherwise, the future looks not too bright for the minor ones in the crypto game.