As crypto-currency continues to progress and classical fiat currency continues to decline, it may be beneficial for us to consider how we are to implement cryptos into our economic structure.
Exter developed an inverted pyramid to allow for an easy visualization of asset classes.
Essentially, the highest risk assets are at the top and the the lowest risk assets are at the bottom.
Below is a possible version of Exter's Pyramid, taking crypto currencies, SMT's and Utility Tokens into account.
I can envision two classes of SMT's and Utility Tokens completely replacing corporate, municipal and government bonds. By replacing the bonds with SMT's and Utility Tokens, there would be little reason to have any unfunded government liabilities or derivatives.
A single crypto currency could easily act as a proxy for gold. Much like gold, Bitcoin could fit the bill quite well, as it still has conversion limitations.
This leaves lots of room for other cryptos. As Steem is easily transacted, I can see Steem being on par with paper money.
I haven't thought it completely through, but it is something which needs to be considered.
Feel free to comment....