The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

World Economic Forum Identifies 4 Factors Driving Worldwide Interest in Crypto: Report

by Daily Hodl Staff
September 6, 2021
in Blockchain

The World Economic Forum (WEF) says there are four main factors sparking a tidal wave of crypto adoption across the world.

In a new report, the independent international organization says that interest in cryptocurrencies is growing due to a combination of economic drivers.

“Central bank policies, hyperinflation, and macroeconomic instability have driven volatility and devaluation of local fiat currencies relative to other global currencies before and particularly during the COVID-19 pandemic. This has caused individuals and corporations such as Microstrategy, Tesla and Square to hold bitcoin and other digital monies. It has also inspired increased advocacy by users and awareness among policymakers from the US to El Salvador who are crafting new policies around cryptocurrencies.”

The WEF also notes that remittance costs are eating up a larger-than-ideal percentage of transactions, potentially explaining the growing attention toward P2P (peer-to-peer) systems found in many cryptos.

Another factor driving interest in crypto assets is the creation and rapid scaling of stablecoins as a much more efficient medium of exchange.

“The market cap of USD Coin (USDC), for instance, has passed $25 billion with a compound annual growth rate of more than 6,100%. Such traction has even inspired Sweden to pivot its planned e-krona in order to compete with such cryptocurrencies and central bank digital currencies (CBDCs).”

Finally, the WEF highlights the wide array of different applications that various digital assets are providing, plus an effort to become greener and consume less energy are causing people to turn their heads toward the crypto markets.

“Such improvements are also propelling DeFi (decentralized finance) application usage. The rapid proliferation and maturation of these innovations is in large part due to the open-source architecture and global developer communities that undergird crypto networks.”

The WEF also says that cryptocurrencies do not enable illicit financial activity while offering a chance to create a more transparent economic system.

“Regulators have highlighted the pseudonymous and borderless nature of cryptocurrency systems as potential money laundering and terrorist financing risks. Yet, illicit activity is significantly less than in the traditional financial system, comprising just 0.34% of all cryptocurrency transactions.

Cryptocurrencies can enable transparency and provide an opportunity for regulators actively seeking to shift more transactions from the informal to the formal economy.”

You can read World Economic Forum’s full report by Alpen Sheth here.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/canbedone

Submit a Press Release

Industry Announcements

  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Meme Fans Eye El Hippo (HIPP) As Floki Inu (FLOKI) Price Dips
    September 19, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
  • Xsolla Launches Mall, an Online Destination for Video Games
    September 18, 2023
  • BlockchainSpace Debuts Polygon-Based Community Rewards Platform, YEY, With Philippine Telco Giant at FIBA 2023
    September 14, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,451.09
$26,451.09
0.51%
Ethereum
$1,586.18
$1,586.18
0.41%
Cardano
$0.244239
$0.244239
0.73%
XRP
$0.505478
$0.505478
0.37%
Dogecoin
$0.061018
$0.061018
0.81%

Spotlight

  • Unexpected Explosive Bitcoin Rally in the Cards As BTC Rides Hot Inflation Data: Glassnode Founders
    September 17, 2023
  • Ethereum Layer-2s Witnessing Surge in Specialization as Key Protocols Carve Out Unique Paths: IntoTheBlock
    September 17, 2023
  • Bitcoin Gearing Up for Much Larger Move to the Upside, According to Crypto Analyst – Here’s His Outlook
    September 17, 2023
  • Billionaire Mark Cuban Suffers $870,000 in Losses to a Crypto Hack: Report
    September 17, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl