Digital assets to replace fiat in ten years – Deloitte Survey

TL;DR Breakdown Deloitte survey reveals that virtual assets would replace fiat in Years to comeDeloitte blockchain expert says global finance is being revolutionalized with virtual assetsCrypto price boom is one reason for increased crypto adoption In a recent survey UK firm, Deloitte carried out, it revealed that in the next five to ten years, digital assets are going to be replacing fiat currencies. 76 percent of respondents of the survey made the prediction. Other respondents also stated that digital assets would play an essential role in the financial industry in the next two years. Deloitte survey was conducted on over 1,000 bank leaders and executives of financial institutions based in the USA, the UK, China, Hong Kong, Germany, Brazil, Japan, Singapore, South Africa, and the UAE. The survey was to determine if these stakeholders believe that the future is intertwined with cryptocurrencies. Many of them believed. 80 percent of the respondents answered that digital assets would play an important role in the financial industry in the next two years. 73 percent of the executives believe that blockchain adoption is essential if organizations want to compete in the future industry. 43 percent of the respondents opined that their institutions should adopt cryptocurrencies as a payment option. While speaking on the survey result, US blockchain and digital assets leader at Deloitte, Linda Pawczuk, said that there’s been a shift...