For awhile its been talked about how physical currencies will just be a thing in the past and digital curencies will take over. But when will this transition happen?
Are we ready for it? What will happen the day physical currencies are outlawed? It's a scary thought because there will be alot of people very upset. I can see riots happening and mass panic. families not able to buy food or medicine they need because they didnt switch to digital.
Unfortunately it will be a very rough switch and it will take time to establish this. The more I think about it the more I realise how terrible things could get.
Here are reasons why it won't be a easy transition:
- Families may starve if they refuse to go digital
- Many will disagree with this decision and riots could break out
- The switch im currencies will take time to be completely established.
- Some will argue digital currencies have no real value
- It will take along time for the WHOLE world to get used to it
I hope the transition goes smoothly and not all at once. It should be established little by little in stages so people become become more used to digital currencies. But the truth is i'm scared there will be backlash, there will be many against it. Only time will tell.