By 2030, cryptocurrency will likely NOT be legal tender in any of the world’s major economies. Today, legal tender in major economies is primarily government-issued currency, and these governments enjoy tremendous benefits from controlling their own currency.
There appear to be two potential paths for cryptocurrency to become legal tender, but neither appear possible by 2030.
For either of these paths to be achieved by 2030, cryptocurrencies will have to overcome blockchain’s current scalability problems. Today, blockchain technology is vastly limited in the number of transactions it can process per second, in the amount of data it can store, and in the cost of its proof of work technology. Given (1) the technological uncertainty around blockchain scalability and (2) the benefits governments receive with status-quo fiat currency, it is unlikely that major economies will recognize cryptocurrency as “legal tender” by 2030. …