What is impact of cryptocurrency in economy?

Cryptocurrencies are a type of digital currencies ; decentralized and are not legal tenders .The operative system  of cryptocurrency is  specially   based  on Blockchain .  Blockchain consists of a sequence of blocks where each block builds on its predecessors and contains information about new  transactions . Since digital currencies are yet not legalised in many economies. its Impact on global economy is yet to  ascertained judiciously. However  cryptocurrencies may garner some positivity  like, reduction in need of banking facilities, impetus to global investments and  reduced   transaction costs.  The negative impacts  as of in  present global economy are manifolds,

Lack of scalability, price volatility due to no  inherent value of the currency  and uncontrolled and unregularized currency  system are  major technical disadvantages.  Besides  It creates concern for cybersecurity,  transborder illegal fundings   and  escalation in  economic crimes. One of  the most appalling negative impact is  that the cryptocurrencies are instrumental in creating huge  gap in revenue  through tax collection in many economies and environmental degradation  leading to accentuation of  climate changes  .