Summary:
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.
- Major governments / economies issue their own cryptocurrency
- Widespread adoption of one or more cryptocurrencies forces governments to recognize these cryptocurrencies as legal tender
For either of these paths to be achieved by 2030, cryptocurrencies will have to overcome blockchain’s current scalability problems…
