This thesis examines the usefulness of cryptocurrency and provides a research-backed conclusion on the future of this digital currency. This starts with a look into the history of fiat moneys: how they were originally created, how they were implemented in past governments, and the resulting interactions between the currency and its users. The countries that were chosen for exploration demonstrate a few common trends throughout their execution of fiat currency. It is through the relationships dating all the way back to the Ancient Romans to the recent problems in Venezuela that provide a well-rounded scope of the issues. However, there have also been a few instances in which fiat currency has been successfully integrated, which furthers the advocacy towards an eventual implementation of government-regulated cryptocurrency.
This leads into an examination on the history of one cryptocurrency in particular, Bitcoin. This analysis includes the effects of the cryptomarket and the impact that it has had on various economies. Additionally, the blockchain is explored by first defining what it is and then its potential and current uses not only in the cryptomarket industry, but others as well. This includes a focus on the real estate market as well as banking. Using knowledge gained about the history of fiat money, cryptocurrencies, and the usefulness of the blockchain, this thesis compares the history of fiat currencies with the current implementation of cryptocurrency. Furthermore, the pros and cons of the possible implementation of cryptocurrency helps to provide an outlook on whether it can eventually be government regulated.