Thomas Frey, futurist speaker, has a vision of a decentralized future. According to Frey’s Twitter account, he made a brave prediction about the future of cryptocurrencies, one that involves them overtaking fiat money in just a little more than 10 years.
“Cryptocurrency is very much here to stay [and] are going to displace roughly 25% of national currencies by 2030. They’re just much more efficient, the way they run.”
However, he didn’t say which ones.
BTC is considered both a digital currency and a store of value, and while it has made progress as a payment way it’s still not an option at most US and UK e-commerce businesses or brick-and-mortar retail locations. That makes Frey’s forecast that much more meaningful.
Then he went on to discuss the International Monetary Foundation (IMF), pointing to remarks by managing director C. Lagarde, who accidentally weeps the amount of electricity that bitcoin mining possess. However, Frey’s point surrounds what the supernatural ability of bitcoin and the others to destroy banks.
“When people like Christine Lagarde say cryptocurrencies could displace central banks and international banking, that’s very significant,” he said.
Frey, who is planning to address US Fed officials about cryptocurrencies at the end of 2018, equated bitcoin transactions to real estate deals. Instead of physical possessions, the seller is letting go of a “digital chunk… in the cloud.” His categorization isn’t too far removed from how the US Internal Revenue Service (IRS) depicts cryptocurrencies as possessions, though bitcoin transactions aren’t subject to the same tax incomes as real estate trading.
Futurists make forecasts about the future such as this thoughtful observation by Frey.