How cryptocurrency can affect the economy?

[mayalily]

You see, cryptocurrencies have been instrumental in helping developing countries buy resources and provide financial services because of their quick access to funds. In doing so, it will be seen as a boost to their start-up ecosystem by accelerating the economic and social development of these economies.

Given the relatively new but very important technological evolution, any discussion of crypto and economic issues needs to take account of many factors.
Cryptocurrencies have had a mixed impact on the economy since their inception in 2009. Now, more than a decade later, cryptocurrencies, digital or virtual money that takes the form of tokens or coins, have become a viable currency and a form of investment, and the impact of cryptocurrencies on society continues to grow.

In many industries, for example in the examples below, it has proved that:

• Blockchain technology is having an impact on these business practices.
• Blockchain has been an improvement in cross-border transactions between Financial Institutions.
• By using the technology, messaging apps were able to negotiate with private investors.
• Blockchain can be used by car rental companies and dealers to streamline the leasing process.
• The use of Blockchain in the operation of smart contracts and against hacking can be made possible by cloud computing.

To reduce paperwork and fraud while strengthening accountability, the government and public records may use Blockchain.
The proliferation of Cryptocurrencies has been largely responsible for the mainstream appeal of Blockchain, especially with bitcoin generating great interest on a number of occasions in recent years. When people want to know what Bitcoin is, they're going to learn about blockchain technology, which is going to continue to impact the economy as businesses start to use it.

 

[BashirJasper]

I really agree with your theory and I've seen a lot of progress being made. I just learnt that Opera has integrated a web 3 wallet for Africans in their app as industry expert in the DeFi and web3 space are also meeting in Accra, Ghana to chat a new course for the crypto industry in the region. Other developing countries around the world have since welcomed crypto but still struggling to bring up basic regulatory framework for integrating the technology.
But according to Bloomberg report, these countries are the most crypto curious countries with holdings across different exchanges - the biggest being Binance, Okx and bitget

 

[ImamShaheb]

You see, cryptocurrencies have been instrumental in helping developing countries buy resources and provide financial services because of their quick access to funds. In doing so, it will be seen as a boost to their start-up ecosystem by accelerating the economic and social development of these economies.

Given the relatively new but very important technological evolution, any discussion of crypto and economic issues needs to take account of many factors.
Cryptocurrencies have had a mixed impact on the economy since their inception in 2009. Now, more than a decade later, cryptocurrencies, digital or virtual money that takes the form of tokens or coins, have become a viable currency and a form of investment, and the impact of cryptocurrencies on society continues to grow.

In many industries, for example in the examples below, it has proved that:

• Blockchain technology is having an impact on these business practices.
• Blockchain has been an improvement in cross-border transactions between Financial Institutions.
• By using the technology, messaging apps were able to negotiate with private investors.
• Blockchain can be used by car rental companies and dealers to streamline the leasing process.
• The use of Blockchain in the operation of smart contracts and against hacking can be made possible by cloud computing.

To reduce paperwork and fraud while strengthening accountability, the government and public records may use Blockchain.
The proliferation of Cryptocurrencies has been largely responsible for the mainstream appeal of Blockchain, especially with bitcoin generating great interest on a number of occasions in recent years. When people want to know what Bitcoin is, they're going to learn about blockchain technology, which is going to continue to impact the economy as businesses start to use it.

Also,It's important to note that the impact of cryptocurrencies on the economy can vary significantly depending on factors such as adoption rates, regulatory decisions, and technological developments. These are the parts where big players like Bitget,Nance,DyDx are playing harder & yeah obviously for the mass adoption!

 

[ImamShaheb]

I really agree with your theory and I've seen a lot of progress being made. I just learnt that Opera has integrated a web 3 wallet for Africans in their app as industry expert in the DeFi and web3 space are also meeting in Accra, Ghana to chat a new course for the crypto industry in the region. Other developing countries around the world have since welcomed crypto but still struggling to bring up basic regulatory framework for integrating the technology.
But according to Bloomberg report, these countries are the most crypto curious countries with holdings across different exchanges - the biggest being Binance, Okx and bitget

Can they really access Nance? Recently nance is either leaving or getting hard restrictions from most of the countries & provinces as well!