The popularity of cryptocurrencies has grown to the point that the sector’s market capitalization now stands at $1.79 trillion.

Leading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) are being regarded as financial alternatives.

Cryptocurrencies, according to market analyst and Bitcoin supporter Lark Davis, are game-changers because they allow everyone to participate in the financial system. He agreed that crypto allows anybody, anywhere to invest in early-stage projects, which was previously only available to the wealthy. The failure rate is high, but the success rate is crazy.

Although Bitcoin is used as a trading tool on exchanges, Davis added that Ethereum has already become a unit of account for the digital era, with a wide variety of items such as NFT being priced and sold in ETH.

Digital currencies and asset tokenization are now a reality, according to Piyush Gupta, CEO of Singaporean multinational banking corporation DBS, and could become a dominant force in the future.

In Asia, there is a lot of interest in cryptocurrencies

Cryptocurrencies continue to assert their dominance in the financial sector, as they are no longer dismissed. The fact that South Korea’s largest search engine and internet conglomerate, Naver, invested $120 million in decentralized network Hashed in December 2020 demonstrates the growing interest in crypto on the Asian continent.

Furthermore, the governor of the Bank of Japan recently stated that the country should “thoroughly” plan for the issuance of its central bank digital currency (CBDC).

Cryptocurrencies continue to assert their dominance in the financial sector, as they are no longer dismissed. The fact that South Korea’s largest search engine and internet conglomerate, Naver, invested $120 million in decentralized network Hashed in December 2020 demonstrates the growing interest in crypto on the Asian continent.

Furthermore, the governor of the Bank of Japan recently stated that the country should “thoroughly” plan for the issuance of its central bank digital currency (CBDC).

LEAVE A REPLY

Please enter your comment!
Please enter your name here