Crypto

Ternio CEO says Digital currencies to replace fiat in 5 years

The CEO of Ternio predicts that the pace of crypto adoption will increase in 5 years.

Daniel Gouldman, Ternio’s Chief Executive Officer, has said that he thinks the future of all currencies is digital. Bitcoin and other crypto-assets will become popular in the future, he also said.

Gouldman commented in a recent interview where he said that if in 5 years, much of the money we know will be cryptocurrencies, he will not be shocked. According to him, crypto adoption is also towing the same route that the internet towed in the mid-90s.

He added that many businesses, including them, are reluctant to embrace modern technologies but are finally compelled to give in. The internet is now mainstream, but it takes companies who wish to work in the modern world to use it.

Banks could be an agent that would drive this growth

He proceeded to add that banks could be the agents that would accelerate the mainstream acceptance of crypto as they could be afraid of losing their prowess and endurance in the current financial system. He noted that these banks might then look at the issuance of digital currencies or currencies issued by central banks; they might become afraid of losing their capabilities and resilience in the current financial system and retaining their customer base.

Currently, relative to previous times when the public had shown a degree of restraint against accepting digital coins as a viable means of transaction, the present rate of crypto acceptance is at an all-time high.

Many institutions now recognize Bitcoin and other crypto-assets as payments for their goods. In Venezuela, an example is Pizza Hut, which accepts Bitcoin and other crypto-assets for its pizzas.

Not only that, but several companies have also started investing as a means to store capital in cryptocurrencies. Companies such as Square, Microstrategy, Grayscale, etc., have already invested heavily in BTC.

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