The striking increase in the influence of cryptocurrencies| LogEditor #6

There are continuing initiatives and concrete steps aimed at cryptocurrency and digital money. This helps us obtain certain data about the future of the ecosystem.


The falling trust in fiat money and the speed and cost advantages offered by blockchain technology motivate projects and studies all over the world. Cryptocurrencies’ sphere of influence is growing day by day.

The headlines in the field are as follows:

  • It is said that the lack of trust in the existing financial system in Latin America causes countries to turn to Bitcoin. Entrepreneur Andreas Antonopoulos said that the investors in Latin America prefer Bitcoin to dollar and added “If there was no Bitcoin, these people would invest in dollars now just as they did in the past.” Antonopoulos indicated the transfer advantages offered by Bitcoin have had an influence on this.
  • Another development took place in the Middle East. Nassim Nicholas Taleb, the famous writer known for his book The Black Swan posted a tweet criticizing banks and said “Use cryptocurrency”. It is said that more and more people are using cryptocurrencies in Lebanon.
  • In Asia, Ripple’s latest agreement has been a hot topic. Ripple signed an agreement with MoneyMatch, which is a Malaysian cross-border payment system, to increase the transaction speed and decrease the cost. It is expected that Ripple will start to operate in 120 countries with this project.

We have left behind a week, when important steps were taken for digital money as well as cryptocurrencies.

  • It is known that China has passed on to the test phase of the digital yuan. In fact, there have been developments with regard to the areas where digital yuan can be used. Recently, it was learned from local sources that Starbucks, McDonald’s and Subway might use digital yuan.
  • The US is continuing to work on digital dollar. It has been said on the media that Digital Dollar Foundation will start to publish white paper in two months.
  • In Europe, digital euro is now an agenda item. De Nederlandsche Bank (DNB) has said that they are ready to develop and test digital euro.

Cryptocurrencies have been recognized as an investment tool, and as a result of recent developments, they are now at the point of becoming a payment tool. While it is promising that cryptocurrencies’ and digital money’s sphere of influence is growing, it is foreseeable that there will be a decreasing tendency towards cash money.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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