" Bunjaku, F., Gorgieva-Trajkovska, O., & Miteva-Kacarski, E. (2017). Cryptocurrencies–advantages and disadvantages. Journal of Economics, 2(1)."
"Recently, cryptocurrencies and bitcoin have become the main topics in the financial industry. A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies have their benefits and drawbacks. Cryptocurrencies in general and bitcoin in particular came outside of the academia. However, since their introduction contribution of academia in this financial monetary field has been very significant. However, since the cryptocurrency market is evolving with an enormous speed and there is a significant dose of confusion of what is going on, it is in our opinion that academic research in this field should be taken with reserves and caution. Despite these facts, academic research on cryptocurrencies has contributed by exposing limitations and pitfalls of cryptocurrency system of payments, but also by proposing ways to overcome those. [1] The above mentioned authors claim that the main three advantages of cryptocurrencies are anonymity, privacy and confidentiality. However, it is our opinion that the most important feature of cryptocurrency system of payments is transparency. One may ask why! The reason we believe that transparency is the key to success of cryptocurrency system of payments is the fact that in this system unlike the conventional bank system of payments where the client has information only about its own account. Whereas, in crypto-currency system of payments, everybody within the system can see the financial transactions of all other participants, thus, making the system extremely transparent. Hence, although not backed by a sovereign authority, it is the high level of transparency that makes cryptocurrencies acceptable for its users. However, some authors, such as Camoron (2016) claims that it is very unlikely that governments will allow the use of cryptocurrencies in the way that are currently operating".
Cryptocurrency and blockchain technology are here to stay. That’s the future. Instead the concern we should have is how blockchain technology might be used maliciously in this future.
I am pro-cryptocurrency personally. But I consider it important to understand not just whether it is the future, but how it will be used.
Some countries Has Banned the Trade of Cryptocurrency. And some are making plan to ban it. The reason is people are using it for money Laundering and other negative activities as their is no proper strict Monitoring banking mechanism in its place. Regards