GASPRO International Journal of Eminent Scholars

With its promises of decentralization, transparency, and security, cryptocurrency has become a disruptive force in the global financial environment. The reliability of cryptocurrencies in promoting long-term, sustainable economic growth is examined in this rigorous examination. Proponents contend that digital currencies such as Bitcoin and Ethereum lower transaction costs and promote financial inclusion, but detractors highlight significant issues with volatility, regulatory ambiguity, and security. This study explores both viewpoints by assessing the financial effects of cryptocurrencies in established and developing nations, as well as their significance in international trade, investment prospects, and financial market integration. The report also looks at how blockchain technology affects conventional banking institutions and how decentralized finance (DeFi) can upend established economic systems. The research findings indicate that although cryptocurrencies have noteworthy prospects for financial innovation, their stability as a fundamental component of economic growth is still questionable in the absence of strong regulatory structures, technical breakthroughs, and increased cultural acceptability. This sophisticated approach emphasizes the need of taking a balanced approach, considering the dangers and benefits of cryptocurrencies in terms of long-term economic advancement. In order to ensure that cryptocurrency can be safely integrated into the financial system, the study also recommended that governments and financial regulators work towards establishing a comprehensive and internationally coordinated regulatory framework that strikes a balance between innovation and security and addresses issues like market volatility, investor protection, and the prevention of illicit activities.

Keywords: Crypto Currency, Dependability and Economic Development