Prominent economist Mohamed El-Erian sees a future in which an “officially sanctioned” cryptocurrency will exist.
“We are moving away from cash,” El-Erian says. “Go to Sweden and you’ll see how fast.”
In Sweden, just 2% of the country’s transactions are conducted with cash, and that number is expected to decline further down to 0.5% by 2020. Countries like Canada, the US, and the UK show similar stats.
Despite his predictions, El-Erian understands that we are still years away from cryptocurrency US dollars: