By 2030, the demand alternative currencies will witness a surge, and cryptocurrencies will take the current position of cash, as written in a research report from Deutsche Bank.

Specifically, in the reported dubbed “Imagine 2030”, Jim Reid – the Deutsche Bank expert – has particularly mentioned numerous issues affecting the current fiat system recently, highlighting the moment cryptocurrencies entered the game.

Reid predicted that the increasing demands from the general audience for dematerialized payment options and anonymity could likely be the main reason why more and more people and organizations to turn to digital coins. 

Should digital assets wish to be accepted on a larger scale, a few primary issues have to be resolved. These include how legitimate are they from the perspectives of authorities and lawmakers, which is a vital part in price stability and worldwide influence in the payment market. 

Per Reid, partnering with key stakeholders such as mobile apps and card providers can be the solution for this matter. 

Secondly, Reid believed the ongoing adoption rate of digital coins will give birth to numerous different problems more, and of those that can create a negative impact on the crypto-based financial system, Reid mentioned dependence on electricity, cyberattacks and a digital war.