The Impact of Crypto and Blockchain in Rich Countries

Crypto assets have once hit over $2 trillion in market cap. The impressive figures point to an enormous shift in attitudes towards the development of blockchain, crypto, and other related technologies globally.

While the USA is on top of the tech industry, going to the extent of monopolizing it, the number of crypto users in the country is yet to match the significant investment in crypto infrastructure that the country supports. European countries are also in the same boat as those in Northern America, where there are plenty of crypto infrastructure projects running, but a few individuals holding and using the ichimoku cloud in day trading the asset in places like PrimeXBT.

In recent years, as Bitcoin and other crypto prices have continued to gain momentum, more people are now open to owning crypto assets in developed countries.

What Countries Have The Most Crypto Owners?

Thanks to mainstream media and the rapid development of social spaces online, people all over the world know cryptocurrencies and their potential in financial spaces such as PrimeXBT. African and Asian countries are home to a significant number of people owning or having a history with cryptocurrencies.

Nigeria stands as number one in the space because 32 percent of the sample population interviewed have an experience with crypto. While reports of crypto bans in Nigeria have been rife, curtailing the movement of cryptocurrencies in the country. The Nigerian Stock Exchange (NXE) plans to integrate the blockchain into its operations to make investing more appealing to the youth.

Asian markets are also in the same boat as the African continent, which has been fast to adopt cryptocurrencies since they went mainstream. However, like in Nigeria, the growth of crypto has slowed thanks to strict government restrictions. China, for example, erected a total ban on anything to do with crypto, making Asia lose many points in the blockchain and cryptocurrency space.

How Does the Developed World Fair On the Crypto Front?

The identity of Satoshi Nakamoto remains a mystery up to date, albeit reports of people claiming to be the person. If some reports are true, then the person might have originated from a country in the developed western world.

The United States has been the driver of the crypto industry, as it is the home of Coinbase—one of the largest crypto exchanges in the world. The company is worth over $60 billion. While the African and developing Asian countries have continuously polled higher in the number of people who have interacted with cryptocurrencies and even traded them in PrimeXBT, developed countries are home to the enormous crypto infrastructures in the world.

A massive portion of the infrastructure carrying the $2 trillion in market cap, which crypto once held, is located in Europe, developed Asian countries and America.

Most of the popular crypto networks mentioned constantly on social media have a home in the United States. The country is gearing up to host other upcoming infrastructures that will be crypto and blockchain-based, further increasing the divide between African/Asian developing markets and the west.

What Massive Technologies in the Developed World Mean For The Rest of the World?

Some hints exist pointing that blockchain, and crypto will be significant players in the metaverse. Early adopters like decentraland have already created their crypto, which will be imperative in the metaverse once it becomes ready. Surprisingly, most development of the infrastructure to host the metaverse is taking place in the developed world.

For example, Meta, which plans to monopolize the metaverse as it did social media, is also in the western world. Technological advances help to eliminate social issues rife in the developing world. However, with the massive capital and human resources based in the west, other countries cannot compete, meaning that it will take longer for developing countries to eliminate some social issues such as poverty.

Final Remarks

Crypto and associated technologies are now on every continent. However, the massive differences in investments to develop the technologies mean that developing areas remain behind. Shifting focus and making investments in new technologies will help the developing economies to catch up with the developed world.

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