Cryptocurrencies have come to set economic trends in a commonly centralized market. The globalized world has joined the Blockchain revolution and every day this technology is more involved in our lives. Cryptoassets promise to make a more decentralized economic system possible and have the potential to transform the financial world as we know it, in addition to questioning the own existence of traditional financial infrastructures.
Many countries are using cryptocurrencies
According to Statistawho conducted surveys in different countries around the world, including Vietnam, India, Ukraine, the United States and Germany, the adoption of Bitcoin and other cryptocurrencies has a high growth trend. In this sense, there is evidence of a significant increase in India, the United States and Germany. For its part, in Latin America it is striking that an average of 16% said they owned Bitcoin or some Altcoin.
Fuente: Statista 2022
Buying crypto assets as a way to protect your savings
On the other hand, Chainalysis, an international data study firm, assured that from 2020 to 2021, the adoption of cryptocurrencies increased almost 9 times. In that study, the firm highlighted the parameters of the total crypto activity, the trading activity of non-professional users and the volume of peer-to-peer exchange trading.
In general, the reasons for this incursion into the crypto world by emerging markets are due to
- The need of citizens to preserve their savings against the risk of devaluation of their local currency.
- While in North America, Western Europe and East Asia over the past year it has been largely driven by institutional investment.
It is important to highlight the participation of Colombia in the adoption of cryptocurrencies in the population, its use is mainly related to transactions and individual savings, ranking according to Chainalysis in position #11, for the year 2021, surpassing Latin American countries such as Brazil.
Companies are adapting to this technological era by leaps and bounds
Likewise, in the latest report submitted by Tesla to the United States Securities and Exchange Commission, the electric car company highlighted its commitment and faith in crypto assets. "We are convinced of the long-term potential in terms of investment, but also in its future as an alternative liquid money to traditional currencies," the company said.
For its part, the traditional financial firm Goldman Sachs, which at some point in the last decade argued cryptocurrencies, has now entered the universe of these digital assets. First, they formed a team of experts in crypto assets, then they included investment in digital currencies in their portfolio and now they offered their first BTC-backed loan.
Every day the world takes steps towards a safe and decentralized financial system. It is your time to enter the Blockchain universe.
As long as companies like Tesla or Goldman Sachs join the crypto wave, their adoption and implementation will surely continue to grow fastly. Taking all this into account, today cryptocurrencies are an alternative, but sooner or later they will be a necessity.