Soon enough we reach an interesting point. Soon enough we live in a world in which we all use a central bank digital currency that's fast-tracked with the fear of germs:
- a cashless society that uses digital currency is better prepared against a pandemic and
- a centralized system (international cooperation as they like to call it) is also better in a pandemic.
How realistic is it to move the fiat economy to the blockchain until that point?
The first stepping stone is of course to make sure that decentralized crypto actually has a place in the future, regardless of what the central banks do, after that we can see where we are at and how to move forward.
You're right: decentralized crypto is a good stepping stone. Our current direction leads toward a point in which we use central bank digital currency. From your perspective: How much time do we have until that point?
Realistically considering that some central banks are already rolling out some limited forms of this, around 5 years until most countries will launch their own, and about 10 years until fully implemented, but that is just my opinion.
From your perspective, how much time do we need to move the fiat economy to the blockchain?
So long as we just make sure that the decentralized crypto stays relevant and has a place then we do have whatever time needed to make it happen.
How realistic is it to move the fiat economy to the blockchain in a point in which we use central bank digital currency?
That remains to be seen when we see how the economy looks like at that point.