We have known about cryptocurrencies for more than a decade. It started with Bitcoin, and Ethereum, Litecoin and Ripple soon followed. Cryptos were designed to be legal tender one day, but most governments are very much against it. Is this a sign that they are afraid of losing control of the payment system?

I do think that governments are afraid of losing control. If most of the money is in banks and if most payments are made with the debit card, they can track everything accurately. But one thing is being overlooked here. Besides the fact that cryptos can serve as a means of payment, most coins also have other useful utilities. Projects such as MetaHero, Women Empowerment Token, White Whale terra and many others use their coin for NFT or arbitration purposes. Something that should be seen separately from the fact that the coin can be used for payments.

So I think we should have more focus on the other utilities of the coins than on the fact that we can pay with Bitcoin or some other currency in the further. Let me know your thoughts!

submitted by /u/ProudElmo
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