The CEO of Shapeshift Erik has asserted that it is only a matter of time before the cryptocurrencies slowly replace the fiat currency as the most used means of transactions in the world. This belief was revealed during an interview with Naomi Brockwell in recognition of the 10th anniversaries since Bitcoin came into existence.
In this interview with Naomi, the CEO said right from the very beginning when cryptocurrencies were first used, he always believed that they would see a very huge growth with time and more improvements made. He also asserted that his feelings were that cryptocurrencies would take over the world in terms of transactions and replace first currencies which he described as scammy. While he was very confident in the rise of the cryptocurrencies, he also made it clear that it would not always be easy for the digital currencies to keep on growing. They would need to be helped along by individuals, corporations and so much more in order to fulfil their expected potential.
This belief has made him promise to use his life to ensure that crypto is well integrated into the society. He also asserted that at this point that no one can argue that cryptocurrencies are fast gaining recognition. He went to explain that as it stands, the world is watching the growth of cryptocurrencies. This would include financial institutions, corporations and even countries. These comments which have being made by the CEO is not the first comment to assert this belief in recent times. The same view has been shared by Tim Draper who believed that in a few years time, there would be absolutely no reason for the world to make use of fiat currency anymore.
He also described his fear as to how the US and other governments would perceive the cryptocurrency. He felt that with the rules and regulations, the US would bite down on the use of cryptocurrency in the country and eventually stunt the progress which would have made. However, to his surprise, the US government have been supportive of the whole process making him more assured that everything is a matter of time.
While the views on this matter would keep on pouring in, it remains to be seen how the world would successfully make the transaction from fiat currency to cryptocurrency. For most people, that transition has already begun.
