When the world adopts digital currencies in near future, sea changes are sure to occur in the following ways:

Speed:  Digital currencies enable transfer of funds within seconds.  Presently when we depend on banks for transferring physical money, we face delay.  All the transfers are regulated by inter-banking protocols and involve time factor.  There are other reasons like intervening holidays, differences in time zones, encoding and decoding SWIFT messages etc. which add to further delays.  But in the case of digital currencies, you can transfer funds even during your midnight on a holiday.  The instant transfer will happen.

Low cost:  Digital currencies operate on blockchain technology.  This enables storing the transaction in digital ledgers.  Hence the cost of operation is very low.  Another reason is the cost of minting digital currencies is very low when compared with physical money.  Hence digital currencies will change the cost of transactions from high to very low.

No borders:  When we remit funds across borders in a different currency, we have to either convert our home currency to USD or the receiver’s home currency.  This involves conversion costs.  But when using digital currencies, you need not convert them again.  You can use them as they are.  You can buy them anywhere instantly.  For example, if you are in Australia, you can buy them from online from Australian bitcoin exchange CoinSpot.

Safety:  Blockchain technology is the safest form of online transactions.  The digital ledgers used by them cannot be tampered with.  Also, the transactions stored in the centralized server are transparent and can be viewed by all the stakeholders.  Hence chances of frauds are reduced.  That way digital currencies would bring a sea change in the banking industry.

Smart contracts:  In future digital currencies will be combined with smart contracts.  These smart contracts will facilitate the auto release of payment upon fulfilling the obligations.  Hence both the parties to the contract will stand safely.  This will have a great impact on e-commerce.