Scott Galit, CEO of Payoneer, payment processing service from New York, said that single global, non-fiat currency such as Bitcoin (BTC) is unrealistic. This is reported by Cointelegraph.
Payoneer is a financial services firm that provides cross-border money payment support for companies and professionals across 200 countries.
Central bankers are there to actually help manage economies and provide a kind of stewardship for for those economies [...] Part of that is actually managing currency in the interest rates [for lending] and in exchange rates. If you don’t actually have any control over a currency you’ve lost one of the major policy tools that you have, so what do you do?
Scott mentioned two factors, that would make non fiat world reality - the opposition of national governments and the concerns of central banks, with a focus primarily on the United States context.
Governments won't allow residents to pay taxes in such volatile currency as Bitcoin, Galit believes
Scott believes that if fiat currency was so volative as crypto, it couldn't been used by governments, they won't be able to meet their financial obligations and fund civilian servises
In United States, CNBC says, some local state governments become less happy about crypto usage. Ohio became fist to allow to pay some taxes using BTC, but it should be converted to USD with Ohio Crypto state-owned webstite.