a strong financial incentive for the young, working generation to switch to a new currency, thereby devaluing all the nominal savings of the old, retired

a strong financial incentive for the young, working generation to switch to a new currency, thereby devaluing all the nominal savings of the old, retired generation. That's not how economics works. First, who is producing the new supply? How is the new supply being produced? Hopefully by them, and not a 3rd party that exploits the production and sale of this new medium... The reason proof of work coins have no inherent value, is because there's zero economic demand except from speculators. Coins are generated though software which has a measurable cost, and why would a vendor or nation state expose their real world assets to be traded for a database token produced though this software method? You can't just tell all the kids to start using seashells or cryptocoins for their money because it would have to equate or surpass the abilities of normal cash.. for both client and vendor. If anything, one can imagine a nation state issuing a protocol tied to their centralized treasury but that's not too different than using a debit card.