The Next Block in the Chain

At present, cryptocurrencies will not replace sovereign currencies as the primary medium for the exchange of goods and services. However, cryptocurrencies
are a viable complement as an alternative medium of exchange for anyone
with access to a computer or smartphone. Perhaps the biggest challenge is
acceptance and use by both consumers and sellers of goods and services.
Multiple sovereign governments are building and/or improving the legal
frameworks and infrastructure for the growth, development, and safety of
cryptocurrencies. In a similar fashion to security regulation, government regulators will need to ensure that money laundering, fraud, and predatory or
criminal activities are controlled or eliminated. Simultaneously, vendors or
sellers of goods and services will need to accept cryptocurrencies and be protected in the same way as they are when consumers use credit cards. At present, a credit card transaction takes a few seconds to be approved and executed;
the typical Bitcoin transaction takes roughly ten minutes for the blockchain
to be validated. This may be a significant issue if cryptocurrencies are to be
widely accepted and used by the general public. This is not unexpected; it is
simply another step in the evolution of the blockchain, and of how we transact business