4. Currency and Payment Tech: Cryptocurrencies Transforming the Face of Finance

Tax-free and high-speed transactions and anonymity in cryptocurrency ownership spur investors’ interest in these forms of digital assets and currency systems. This chapter elucidates the in-depth review of the concept, features, adoption, and other significant topics associated with their development as a financial asset in 2009. Looking into its exponential growth, there are escalating speculations, “Whether it will be the mainstream payment medium in the future?” But on the other hand, despite tremendous price appreciation in recent years, cryptocurrencies are still called a bubble that can burst anytime due to three main reasons; regulatory oversight, the potential for illicit use due to anonymous transactions, and infrastructural breaches influenced by the growth of cyber criminality. Each affects the recognition of cryptocurrencies. Is it considered a credible investment alternative, mainstream payment too, and do these determinants influence its legitimate value? The chapter covers each of these aspects and explores what the future holds for cryptocurrencies? Crests or Troughs!