To What Extent Can Cryptocurrency Become Everyday-Use Currency?
We critically investigate whether Bitcoin - and by extension, other cryptocurrencies - can evolve into widely accepted everyday-use currencies. Using the US dollar as a benchmark, it evaluates key characteristics such as stability, divisibility, transaction efficiency, and regulatory compatibility. Drawing from real-world case studies like the Mt. Gox Heist and the Bangladesh Bank Heist, the piece highlishgts security concerns, value volatility, and the tension between decentralisation and the regulatory oversight needed for monetary policy. Ultimately, the articles proposes that for crypto to become mainstream, it must transform into a permissioned, central-bank-backed stablecoin - a ‘cryptodollar’ - that offers speed, trust, and compliance without sacrificing the innovation at the heart of digital money.