The adoption of Cryptocurrency is rapidly growing around the globe in 2021, with the business concentration based on localized presence rising in the wake of recurrent rising and falling trends.
During this time, Chainalysis, a blockchain data platform published a Global Crypto Adoption Index report based on exchanging metrics. According to the findings of the report, Ukraine and Russia are driving the crypto enactment bandwagon, way ahead of tech-enthusiastic nations such as the USA, China, and Japan.
Moreover. African countries landed some leading positions on the top 20 list as well. Kenya comes in 5th, South Africa at 7th, and Nigeria sitting comfortably on 8th. In Asia, Pakistan ranks an impressive 15th in the world for digital currency adoption.
Furthermore, as per Chainalysis, it is also assessed that Pakistan gained more than USD 1.5 billion in crypto-cash last year, with many analysts advising that it could have been much, much more in 2020-21 if sales were made more manageable.
Besides Pakistan, other Asian nations further displayed remarkable progress towards crypto enactment in the past 14 months. China comes in 4th, Vietnam at 10th, India 11th, Thailand 12th, and South Korea at 17th. The Middle East is likewise catching up, even though many nations in the area still do not endorse any activities related to the blockchain.
Worldwide, companies and customers are becoming more open to blockchain technology and cryptocurrency, so that for major online retail and payments players there was no option left, to satisfy the demand. All in all, despite huge firms being increasingly engaged with Blockchain, the business is expected to see many newcomers in the near future.
Source: Pro Pakistani
Image Source: Money Control