Crytpo: ‘Monopoly of Sovereign Issuance of Money is Clearly Over’
Ever since the arrival of leading cryptocurrency Bitcoin on the monetary scene over a decade ago, financial experts have speculated whether this new virtual currency might one day supplant the primacy of nationally-issued sovereign money. Due to the transformative power of its distributed ledger, or “blockchain” technology, cryptocurrencies like Bitcoin have been able to bypass the US dollar-dominated central banking and credit system by providing a low cost peer-to-peer money transfer alternative. But is it enough to tip the global scales?