In an era where the global financial system stands at a critical juncture, marked by the rapid rise of cryptocurrencies, this paper explores their implications for the traditional dominance of fiat currencies. Utilizing a distinctive approach that diverges from traditional literature reviews and conventional research methodologies, it focuses on case studies and direct observations to gather insights into the evolving interplay between these two monetary paradigms. It critically examines how the swift adoption of decentralized digital currencies is reshaping perceptions of value, trust, and control within global finance. By analysing contemporary developments, it investigates crucial issues such as market volatility, regulatory responses, and the growing significance of central bank digital currencies (CBDCs) as a new hybrid financial model. Additionally, it investigates whether cryptocurrencies represent a systemic threat to established fiat regimes or serve instead as a catalyst for financial innovation and inclusion. Through this comparative analysis, it posits that, despite their ideological and structural disparities, fiat currencies and cryptocurrencies are not inherently destined for mutual exclusivity. Rather, the future of money appears to be characterized by a coexistence model, shaped by regional realities, technological advancements, and the evolution of policy frameworks. By taking this innovative approach, this study enriches the broader discourse on the transformation of monetary systems in the digital age, providing essential insights that reflect the complexities and potential pathways of future financial landscapes.
Mouyabi Seke Mboungou (Wed,) studied this question.