What will be the future of Crypto is the question that comes to everyone mind who is somehow connected to this ecosystem. Are we going to be shut down by these institutions that are imposing different kinds of bans on Crypto Currencies or on exchanges? Or are we going to thrive beside all this Regulation drama?
I think CryptoCurrency is going to stay for a longer period of time and here I'm writing the reasons why I think so.
Increased adoption:
Despite all these bans, Crypto adoption continues to grow, More and more people are getting familiar with CryptoCurrency and Believe me all these restrictions/bans are giving us more exposure and free publicity. Currently, there are 4.2% of the World's population is using cryptocurrency and we have reached a total market cap of 3 Trillion $, Imagine if only 10 % start using it, where we will go then? I think we can easily cross the 20 trillion $ market cap.
Institutional investment:
Along with the common people, Cryptocurrency is gaining the attention of institutional investors such as pension funds, insurance companies and hedge funds. They are increasing their investment in Bitcoin and other Cryptocurrencies. In my point of view, this trend is likely to increase with the passage of time.
Decentralization:
One of the main key Features of Cryptocurrency is Decentralized, which makes it different from the Centralised money transfer or financial systems. This decentralized nature allows users to transfer their money without the need for any mid parties such as banks. You can transfer your money to whoever you want whenever you want. In this way, you will have more control over your financial affairs.
Integration with other technologies:
We Know crypto has a welcoming nature and this welcoming nature will make it easier for other technologies Like artificial intelligence, to integrate with it and both technologies will get benefited from each other. This could lead to new use cases and opportunities for innovation.
Development of new cryptocurrencies:
Bitcoin is known as the father of Cryptocurrency, and that's the reason it remains the dominant Cryptocurrency, but there are now thousands of cryptocurrencies that gain people's interest and they have come up with different unique ideas to implement in our daily life and get benefited from it.
Greater regulatory oversight:
As cryptocurrency continues to grow in popularity, governments around the world are likely to introduce more regulations to govern its use. This could include measures to prevent money laundering, tax evasion, and other illicit activities. Currently, there are more 10 countries where cryptocurrency is legal.
| Country Name | Country Name | Country Name |
|---|---|---|
| The United States | United Kingdom | Canada |
| Australia | France | Denmark |
| Germany | India | Japan |
| El Salvador | Switzerland | Spain |