Is the Crypto Tornado going to archive Fiat Currencies?

In this period, also thanks to the crisis that originated the Lockdown to deal with the Covid-19 pandemic, we hear more and more often about finance and fiat currency.

The topic is treated in terms of hyperinflation, Helicopter Money and increasingly cryptocurrencies are returning to the fore.

But if we already have a currency, why use digital currencies, more precisely cryptocurrencies?

The question is correct, but questionable, as cryptocurrencies were not born to replace fiat currency, but as an alternative to the traditional financial system.

Creditor - Bank - Debtor

With cryptocurrencies the intermediary is not necessary, in fact the creditor and the debtor are resolved through a direct operation: from the debtor's Wallet the Tokens arrive directly in the creditor's Wallet.

While in the traditional system, coupons with a predefined value are sold through the currency, in the new system it is possible to transfer the ownership of an asset: NTFs and STOs are two clear examples of how cryptocurrencies, although not tangible, can represent something real and concrete.

This inherent characteristic of digital currencies, more precisely cryptocurrencies, makes them difficult to understand.

Allow me a comparison: the internet

When the World Wide Web was born in 1991, no one had a clear idea of ​​the extraordinary innovations it had with it; just think that you are reading this article inside a screen and not on an ordinary sheet of newspaper.

And even more so if you think, again thanks to the internet, you can see it in any corner of the Earth.

The worldwide connection has also changed the way people communicate, in fact we write E-Mail (Electronic Mail); but this did not prevent us from taking paper, pen and writing an epistle to a very dear friend.

Obviously you will say that by now the dear and nostalgic handwritten letter is obsolete, but let's not forget that the institutions, even today, rely on registered letters for important official communications!

So the internet has not supplanted post offices, but has joined them to speed up some procedures.

In the same way cryptocurrencies can do, it is not necessary to replace the fiat currency: the world would continue to function anyway.

But let's try to imagine that thanks to this technology it is possible to create a finance without governments, banks and money ...

Companies will be able to choose which system to use, obviously with an eye to what are the expenses and the possibilities of producing as much income as possible.

In this way, by giving end users full decision-making power, we could even think of having multiple cryptocurrencies for different purposes: a bit like work clothes that are not suitable for going to a wedding or vice versa.

In the long run it may become a habit to pay for certain things using cryptocurrencies, until one wonders why, instead, to use fiat ...

Obviously, this choice cannot be shared with most of the interested parties, namely the credit institutions.

Because?

Simple if cryptocurrencies were to access mass-adoption, the savings of citizens would flow into the free market and DeFi, and in this way the "traditional" financial products would have a big setback and the banks would pay dearly for the consequences.

But let's look at it from our point of view

MY coins, stored in MY Wallet, are mine only and only: only I know the private key and only I can make transactions.

In this way we really become owners of our money and we are Free, this is Satoshi Nakamoto's philosophy: Bitcoin should not make us rich, but Free!