RE:RE:RE:RE:$BITCOIN TAIn addition to my knowledge on a digital transaction processes China has already begun the transaction process by starting a pilot project on DCEP - Digital Currency Electronic Payment. They are still using the Yuan as the based evalutor of value but there is no exchange of cash. Everything is handled electronically to purchase supplies and goods. This is referred to as the digital wallet. This will expand very quickly to a major financial transition within China's society.
Once this is implemented it will put tremendous pressure on the US governement to implement a digital currency payment exchange process. On a small scale North America already has a digital currency transaction process which is debit or credit cards payment. However eventually over time cash transactions will disappear. The question is how quickly will this be implemented but when it happens in the US other countries will quickly follow. Cash transactions will disappear around the world.
What will happen to private cryptocurrencies? Private cryptocurrency will be no more. Biticoin will be no more - toast, something to write in your history books.