To answer this before, we should first examine ‘What is Money and it’s function’. A simple Google search reveals that the function of money is to act as a medium of exchange, a store of value and to express and compare the value of different goods and services. The characteristics of money are Durability, Portability., Divisibility, Uniformity and Fungibility, Limited Supply, Acceptability. I disagree with the Limited Supply characteristic, I would rather say something to the effect of creation of money is tied to the services rendered or goods produced. This will allow for money to be unlimited and not a zero sum game– however, that is a different debate.
Using the above functions and characteristics of money, I would say ‘yes’, however the Acceptability of crypto tokens is quite limited; there is no real world customer use case that is using crypto at scale; unless that changes, the utility of crypto will be limited to a niche audience within the blockchain ecosystem– like a slightly better acceptability than Chuck E. Cheese tokens since you can move tokens between Blockchains and convert to fiat currency. Will broader acceptability take place – in the long run, I think so.
The way to articulate the value of Blockchain/Crypto is not to use those terms, the big benefit is decentralization – what does this mean? Let us use the example of stock trading – today, in order to trade stocks, one has to open a brokerage account and make trades. The brokerage acts as the custodian of the security and they can use assets to generate yields (e.g market making). If the securities were tokenized and brought onto the Blockchain, then the same security can be held by the customer in their self custody wallet – this provides a couple of advantages – one is custody, no one can take it away from you (it is like holding cash) and second, you can use your assets to generate yield– you can lend your asset to a market maker and collect a portion of the fee for lending your security. There are many more use cases like this that will allow the customers have full control of their assets and generate yield off those assets which in today’s world is a block box managed by a middle man who make all the money from your assets.