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# Web3 is not a means to rebuild the global financial system. # Is web3 a means to rebuild the global financial system?
**Web3 is not a means to rebuild the global financial system.**
Crypto assets do [not have the capacity](is-bitcoin-currency.md) to function as [money](../concepts/money.md) which serves as the foundation for a financial system. Without money which can mediate transactions, serve as a medium exchange, be used to denominate contracts and issue debt products in, all of modern finance could not exist. Crypto assets do [not have the capacity](is-bitcoin-currency.md) to function as [money](../concepts/money.md) which serves as the foundation for a financial system. Without money which can mediate transactions, serve as a medium exchange, be used to denominate contracts and issue debt products in, all of modern finance could not exist.
Crypto has no theoretical basis as a foundation for a financial system because it is not fit for purpose and is not a [currency](../concepts/currency.md). Crypto has no theoretical basis as a foundation for a financial system because it is not fit for purpose and is not a [currency](../concepts/currency.md).