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The future of cryptocurrencies in the global economy is full of possibilities. As more and more people become aware of digital currencies, their adoption is likely to increase. In the financial sector, cryptocurrencies could disrupt traditional banking services. For example, decentralized finance (DeFi) applications are already providing alternative ways to save, borrow, and invest. In the long run, central bank digital currencies (CBDCs) may also co - exist with cryptocurrencies. CBDCs are digital versions of fiat currencies issued by central banks, and they could bring the benefits of digital transactions while maintaining the stability of traditional currencies. Cryptocurrencies may also play a role in cross - border trade, making transactions faster and more cost - effective. However, for widespread adoption, issues like regulatory clarity, security, and scalability need to be fully addressed.
Lily Thompson
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