When a bitcoiners starts talking about cryptocurrencies and how these tools are destined to change the world, it always seems to hear about a possessed person, the member of a somewhat unconventional sect, so he undoubtedly leaves a little bit lost finding that this once in the invaded part there is one of the largest banks in the world; we are talking about Deutsche Bank which, in the "imagine 2030" report drawn up by Jim Reid (one of the bank's main strategists) wrote that the fiat system will inevitably have to deal with the rise of cryptocurrencies. Physical currency against dematerialized currency, privacy with total traceability of transactions, intelligent programmable currency against the old paper money, these are the main differences that, according to Reid, will end up making the citizens' preference fall on cryptocurrencies by 2030, to the detriment of the fiat currency . However, according to the Deutsche Bank strategist, even cryptocurrencies have their good challenges to overcome, such as the regulatory issue, price stability and the creation of a global market that widely accepts payment in encrypted currency; Reid also analyzes the main criticalities of the new virtual currencies, highlighting the high dependence on the electricity system, the risk of cyber attacks and a digital war.
In my opinion, however, those that are the critical points highlighted by Reid go beyond the fact that crypto impose themselves or not on the market, for example our whole society depends on the electricity grid and it is not that in the event of a blackout the banks continue to function, indeed, all normal banking operations without electricity are blocked, as well as the risk of cyber attacks and digital warfare is already something with which the various countries must measure themselves, regardless of the type of currency used. In any case, the most likely scenario will see governments around the world coming to issue their own CBDCs and this, consequently, will improve interoperability between public and decentralized currencies (such as bitcoins), corporate currencies (such as ripples) and those issued from state entities; in short, the future will not emerge from the imposition of a single global standard but will be the result of the coexistence of different systems and models that preside over the same space. The CBDCs, in other words, will not kill bitcoins and the decentralized cryptocurrencies will never represent a real obstacle to the CBDCs, the two instruments will simply continue to coexist satisfying different needs; the states will continue to issue their own currency and claim that the whole system revolves around that currency (taxes, salaries, public tenders, etc.) simply the new FIAT currencies will also be protected by cryptography, while the citizens will be oriented to decentralized currencies for payments anonymous, to put aside savings, to diversify their investments or to create payment infrastructures that are more efficient than the state ones.