It is already possible to exchange cryptocurrencies for fiat currency through exchanges and transactions with other cryptocurrency users. The use cases, popularity, understanding and acceptance of cryptocurrencies and blockchain continue to increase. The more it is understood and used, the more valuable it becomes as a medium of exchange.

If these trends continue, several currency scenarios could emerge. First, societies and economies may accept cryptocurrencies to the extent that they replace national fiat currencies. That government would be forced to recognize it as legal tender, and the use of legal tender would be suspended.

The second scenario is the combination of digital assets and fiat currencies. Governments would be able to recognize both and increase tax revenue to fund programs and the military. Both consumers and businesses could choose what they liked.

Third, society may reject cryptocurrencies altogether and choose to continue using established fiat currencies. However, this seems unlikely as advances in blockchain are moving society towards a system where financial information cannot be tampered with or tampered with.

No matter what scenario unfolds, it is clear that cryptocurrencies have the potential to benefit people and the economies around them around the world. But what remains to be seen is the fate of fiat and cryptocurrencies. Both have proven to be useful mediums of exchange, units of account, and stores of value.