The crash of the cryptocurrency
did not put an end to the blockchain. In
the current scenario, the opportunities for blockchain are filled with
incredible possibilities. All industries are looking to leverage the blockchain
technology, whether it be finance, artificial intelligence, finance, or energy.
The IMF had recently stated that
American Economic Expansion is in the face of “unsustainable debt
dynamics” A bear market is surely coming for the USD; however, it is only
about when it is happening.
When fiat currencies falter,
people will turn towards blockchain technology to transfer value across
borders. When the more extensive economy
struggles, cryptocurrency will be used to move the amount.
E-sports is considered to be one
area which will legitimately accept the blockchain technology. Multiplayer
systems are expected to take advantage of cryptocurrency payment systems. However,
it has been widely seen that the gaming industry has already adopted it to a
greater extent, particularly the blockchain technology.
The US is
currently following a “wait and see” regulatory approach. Regulators want to crack down on the scam
cryptocurrency projects. They were not interested in standing in the way of the
progress of the blockchain technology though.
Lawmakers are maintaining their distance as they do not want to make the
governments will have little to do with cryptocurrency, they will have a lot to
do with stable coins. Each government
will want to have a stable coin. Investors who do not want to completely trust
liberated currencies like Bitcoin will want to invest in stable coins.
technology is too diverse, and it is more than just a cryptocurrency. The changes brought about by the blockchain
technology are a guaranteed happening.
However, with cryptocurrency, we need to see how the vast majority are
reacting towards its acceptance.
In the past
couple of years, Wyoming enacted nearly 13 blockchain laws, and a raft of
proposals are on their way.
Lindholm, a state representative, stated, “It’s been good for Wyoming that the
federal government has been proving its stripes of incompetency.”
been recently talking to several companies in a task related to crypto payment
systems. The company is as well working
with regulators to ensure that they do not get into issues with regulations.
expected to leverage a “tax data honeypot” for many governments to
establish a regulatory border for executing its crypto payment system. The power of the corporate in the context of
money is heating debates.