The Federal Reserve will eventually enter the digital currency space, according to top experts from TheStreet's exclusive webcast Investing in Cryptocurrencies.

"Our lives are digital now," said Eric Ervin, CEO of Reality Shares, adding that the Federal Reserve is likely to unveil its own digital currency. "It's time we get rid of the paper money."

Kathleen Moriarty, an attorney and partner at Chapman & Cutler LLP and panelist on TheStreet's webcast, said the Fed has been studying cryptocurrencies for quite some time.

Could Bitcoin have a chance to compete with a potential 'Fedcoin'?  The panel was heated over this topic and claim there will be no paper currency by 2020.  

Must Watch conversation.

Investing in Cryptocurrencies

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