Crypto adoption: digital currencies to replace fiat in 5 years- Ternio CEO

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TL;DR Breakdown

  • Ternio CEO believes crypto adoption rate would grow in 5 years
  • Says banks could be an agent that would drive this development

The Chief Executive Officer of Ternio, Daniel Gouldman, has said that he believes the future of all currencies is digital. He also added that Bitcoin and other crypto-assets would become mainstream in the future.

Gouldman made this statement in a recent interview where he said that he wouldn’t be surprised if, in 5 years, most money we know would be cryptocurrency. According to him, crypto adoption is also towing the same path that the internet towed in the mid-90s.

He added that, like them, many firms are slow to accept the new technology, but they were eventually forced to give in. The internet is now mainstream, but businesses that want to operate in a modern world are required to make use of it.

He went on to add that banks could be the agents that would drive crypto adoption to the mainstream as they might become scared of losing their prowess and stamina in the current financial system. He noted that these banks could then look at issuing digital currencies or central bank-issued currencies; they might become scared of losing their prowess and stamina in the current financial system and a way of keeping their customer base.

Crypto adoption rate already growing in the world

Presently, the recent rate of crypto adoption is at an all-time high compared to previous times when the public had shown a restraint level against accepting digital coins as a viable means of transaction.

Many institutions already accept Bitcoin and other crypto-assets as payments for their products. An example is Pizza Hut in Venezuela who accepts Bitcoin and other crypto-assets for its pizzas.

Not only that, but some institutions have also started investing in cryptocurrency as a tool for storing wealth. Companies like Square, Microstrategy, Grayscale, etc., have already massively invested in BTC.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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