The present money system looks fragile. There is a prediction that digital currencies will be rising to more than 200 million users by 2030. The market capital of the crypto industry worldwide stands at more than $2.5 trillion. Also, they may replace cash because there has been a growth in the demand for a highly decentralized payment method and anonymity. Visit the official site to know more about cryptocurrency.
There is no control of government:
Crypto is a risky asset:
Current scenario of cryptocurrency as money:
How does the future look?
Public imagination has been captured by crypto. However not as they were intended. They are not considered to be a reliable exchange medium. They come with anonymity which makes them alluring for illicit and illegal transactions. Yet it is never a desirable final from any societal perspective. Now the major attraction of this digital currency is in the form of a speculative asset but with a huge amount of volatility. It has been presently configured that because of the high electrical demand of crypto mining there are many concerns related to the environmental consequences.
The ease to use central bank cryptocurrencies not only to make domestic payments but also international ones will be improved with technological advancements. Also, a great demand lies for cheaper, lower, and better cost services, mainly for people who do not have a debit/ credit card or any bank account. It is not much clear if cryptocurrencies issues privately will be able to act as an effective exchange medium.
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