The “Global Blockchain and Cryptocurrency Market 2021” reveals the continuing interest of online retail and payments major global players in cryptocurrency and blockchain-based technology. The publication indicates also that developing countries are leading the market.
Cryptocurrency is gaining popularity around the globe
The report cites studies showing that by 2030, blockchain technology is expected to be a significant contributor to the global GDP. Which is lifting it up by close to USD 2 trillion. However, if the situation is at present, developing countries will be setting the trends in cryptocurrency implementation and development.
Ukraine and Russia are leading the ranking of cryptocurrency adoption. Some African countries made it to the top ten despite their infrastructure challenges, and such Asian countries as China, Vietnam, India, Thailand, Pakistan, are already among the top 20 countries by cryptocurrency adoption. The Middle East is also catching up, despite the fact that many countries in the region still do not allow any activities connected to the blockchain.
The health factor affects retail and employed sectors
Globally, businesses and consumers are becoming more open to blockchain technology and cryptocurrency, so that for major online retail and payments players there was no choice left, to meet the demand.
As cited in this publication, Visa and Mastercard expand their offerings by incorporating blockchain in different forms, PayPal announced intention to expand its cryptocurrency capabilities, Amazon and Apple are to introduce their digital currency projects, and Square, which was the first public company to allow transactions of Bitcoins via its Cash App, has made serious investments in this area.
Therefore, despite these large companies being increasingly active with Global Blockchain and Cryptocurrency Market 2021.
A Delhi University graduate, paving her way in the world of writing. An optimist, creative, and go-getter. Loves to read, research, and write about different topics in technology or cryptocurrency, and serve them to the readers in the most meaningful way possible.