The Indian authorities, when taking on Facebook’s Libra, stated, “It would be a private cryptocurrency, and that’s not something we have been comfortable with.”

The current design of the cryptocurrency poses a threat to international economies.  Most of the cryptocurrencies are currently unregulated.  If the cryptocurrencies are widely launched, they are likely to work as a threat to the financial stability of the global monetary system.

Regardless of the improved usability of crypto and the many reported use cases like charity, gift cards, home decoration, IT services, cards, travel industry, jewelry and luxury items, food, satellite television, and internet service, cryptocurrencies can work as a Ponzi Scheme. Enthusiasts are trying to focus on the positive side, while critics and regulators are exaggerating on the negative side.

It is essential to have crypto wallets for any cryptocurrencies, and developers spend less time improving on the wallet.  Several cryptocurrency wallets in the industry are too basic, and they have ancient features, and they are incredibly lacking. They are not new in any way, and they work like a very remote model of wallet.

There is a need for newer wallet programs, which users will be able to understand very easily.  Safer tools that are far better than the older ones are currently needed. There is a need for cryptocurrency wallets, which are resistant to hacks.

With robust KYC protocols in place, it can get exceedingly harder to take some other person’s funds.

There is a need for expansive wallets that can home more than just one type of cryptocurrency.   Some applications are created in a way to hold exponential numbers of tokens active them on entirely different blockchain.