Blockchain applications particularly, in cryptocurrency represented by Bitcoin and Cross Border Payments, are the focus of this academic review. Bitcoin seems like fiat currency but not exactly the same. The history of money and technology are summarized relevant to cryptocurrency and payments by cryptography and Blockchain are briefly discussed leading to making a right commercial decision because of advantages such as ICO vs IPO for corporate fundraising with low cost, less legal hurdles, decentralization of smart contract and hence quicker being launched.  This is also reducing the risk of money laundering and financing terrorism spreading to financial systems and business entitles. Digitizing safer Chinese yuan will be fully introduced into China soon.  Its deficiencies such as evolving slowly to digital currency, technical limitation, Lack of Merchant acceptance, and difficulties of accessing or buying into cryptocurrencies, however, the Potential and opportunities of cryptocurrency remain promising.