The modern field of global economics includes cryptography currency with high uncertainty but a possible traditional financial environment. Conversely, modernity considerations include financial globalisation and rate of adoption. Further, it affects one in the way of normal banking practices. Since a transfer of transfers that involves blockchain based cryptocurrency are direct with no mid men like the bank. This is because, even though it serves better for the economy and needs smaller use of the monetary authorities, it inflicts a terrible damage upon the previous recognition of banking industry. In this environment, this will be a paradigm shift and it will require the older financial sector to share with the distributed characteristics of cryptocurrency. 

Another major issue is regulatory unpredictability. Diversity is not an exception; therefore, it makes crypto regulation rather young causing instability among various jurisdictions. This leads to challenges for governments to establish its legality, taxation and consumer protection considerations. The lack of success in developing a homogenous nature prevents the complete adoption of crypto-currencies from all parts of the globe financial systems. The financial criminals have adopted the use of cryptocurrencies to support their activities, which is currently a big issue. Pseudonymous transactions in a blockchain network may be used as anonymity avenue for money laundering, fraud and terrorist financing among others. Therefore, they have to ensure that they do not kill the golden chicken that lays the egg with regard to controlling illegal money transfer.

However, it is included in the mentioned problems that refer to environmental sustainability. Among cryptocurrencies, especially some that use energy demanding consensus mechanisms such like Proof of Work, there is criticism of emission of carbon dioxide. Sourcing cryptocurrency mining during global warming is indeed an issue that needs innovative solutions and viable techniques.

This then leads to another phase in the financial globalisation that brings about more problems whose consideration is indispensable. This calls for collaboration between regulator’s, fin institution and fin innovators in order to have a robust and secure global economic environment.