Blockchain and Cryptocurrency for Digital Economy

[Yugocean]

The world is heading towards the digital age, Blockchain and Cryptocurrency are the leads of Digital Economy, there have been thoughts that this is the currency of the future.

We see, Governments of many countries stood up against this technology, which caused economic turmoil around the world, for example, Egypt’s Islamic legislator Dar al-Ifta declared cryptocurrency as haram; however no one succeeded in stopping it. Crypto increasingly become popular among the digital-connected masses.

Several governments took a middle path to save both economic control and also to counter mass popularity of crypto; for example, EU tried to regulate crypto with "MiCA" (Markets in Crypto-Assets) Regulation 2020.

World has seen fall of economy due to COVID-19 pandemic, this made many countries to adopt cryptocurrencies in order to save their sinking economy in the Corona period. For example, El Salvador legalized Bitcoin under its "Bitcoin Law, 2021"

 

[sincerem]

Blockchain have really made online payment to be at ease, fast without much hassle. Some countries might doubt its long time goal, but the technology got extra ordinary potential to change the mose of transactions and makes it look easier than what the govt never imagined. I'm happy other countries have seen the qualities in the blockchain technology and adopt crypto to be a mainstay and bolster their economy.

 

[Alexandoy]

To be honest, until now I can't fully understand the concept of blockchain especially that it is the source of crypto currency. With the topic about the digital economy I agree that crypto is an industry that is providing employment but not really a livelihood for the traders. The traders just earn from each other while the digital wallets and the exchange platforms are earning from the transactions.

 

[NXTGChain]

The Blockchain and smart contracts are revolutionary, they can service more than just finance. In the energy sector it has the potential to play a leading roll in managing renewable energy microgrids and giving transparency to the energy market.
Cross boarder payments are easier than ever due to crypto, where most core services would take a huge chunk of the total amount sent, the fees for crypto are a drop in the ocean by comparison.
It will take time but some governments are already warming up to crypto while others are more aggressive towards it.
Time will tell how long adoption will take for countries to warm up to it, but in the meantime innovation will continue.

 

[Josemendez]

The world is heading towards the digital age, Blockchain and Cryptocurrency are the leads of Digital Economy, there have been thoughts that this is the currency of the future.

We see, Governments of many countries stood up against this technology, which caused economic turmoil around the world, for example, Egypt’s Islamic legislator Dar al-Ifta declared cryptocurrency as haram; however no one succeeded in stopping it. Crypto increasingly become popular among the digital-connected masses.

Several governments took a middle path to save both economic control and also to counter mass popularity of crypto; for example, EU tried to regulate crypto with "MiCA" (Markets in Crypto-Assets) Regulation 2020.

World has seen fall of economy due to COVID-19 pandemic, this made many countries to adopt cryptocurrencies in order to save their sinking economy in the Corona period. For example, El Salvador legalized Bitcoin under its "Bitcoin Law, 2021"

Governments may have said no to cryptocurrency but they have accepted that blockchain is indeed a good tool that can help develop the economy . It's security , transparency and other features are enticing. Soon , there will be possibility of votes being casted using blockchain.