TheFund.io research: New Crypto Echelon or Why We Still Need Cryptocurrency
While lots of resources say crypto market is down every day each cryproexchange lists new coins. Then comes a question, is crypto market still just a platform for the fast money, or it became something more? Or just why people still invest in it? To get the answer, marketers and analytics from theFund.io decided that first is better to take a look at regions where it is popular.
From here we should understand, that the world is divided in two parts: the first one where people are interested in buying crypto, and the second where people like to create blockchain projects and launch ICO. If we start searching for the different lists of the countries which are in a top of crypto-commitment, we definitely will find there the USA, the UK, Japan, & South Korea and etc. These are the leaders in trading volume for Bitcoins and other cryptocurrencies. However, even then the cryptocurrency isn’t banned there, it has enormous taxes. But if we look at the other part…
For example, at China. There are no doubts that China is about to lead as a crypto-country at almost all fronts. There are lots of blockchain startups, the government supports Chinese cryptocurrencies and smart contract platforms (NEO, VeChain, Qtum, TRON) and even Chinese Central Bank is going to be on blockchain. The same things are going in Africa. For example, in Zimbabwe, where an economic crisis seems eternal, cryptocurrency is the most actual thing. In Kenia, we can find a blockchain accelerator BITHUB.AFRICA, and when theFund.io was looking for the blockchain conferences to go to, there were a lot in Africa, for example (the nearest one) Ghana’s Second Blockchain Conference in Ghana on October 25. Looking on another continent, we can find Venezuela with their own cryptocurrency — el Petro. And sure, Argentina with its Buenos Aires, which is in a top of 10 Bitcoin cities by Forbes.
There’s no need to go on different resources to find information about it, just take a look on Google trends with the keyword “Bitcoin” — this word the most popular in Nigeria, Ghana and Republic of South Africa etc. These themes like “bitcoin”, “crypto” an “blockchain” are widely discussed there, and not only because all these countries have no taxes and interdictions for crypto. Let’s see why 3rd world countries need cryptocurrencies more than others.
Actually, it does. First of all, economic turbulence of developing countries makes people buy cryptocurrencies just for their personal stability for “tomorrow”. Some African countries have a limit for withdrawal of money in a day. There are days when people sleep near banks just to be the first one in a line, because the last one could not have it. Also, don’t forget about banking system and access to this. This is one of the biggest problems of poor countries. However, using blockchain system people have an opportunity to make microtransactions and according to the words of the global economist, Dr. John Edmunds — “While no bank will cash a check for a dollar, sometimes a dollar is all that a person needs”.
Important thing here is attendance of corruption. Unfortunately, developing countries have it, and blockchain is a thing that can destroyed all that corrupted system. Why? Because it decentralized and transparent. For example, it can bring fair elections. And it just the small part of what blockchain can really do with the economic and political system in 3rd world countries.
After all that’s been said, it became kind of obvious that blockchain is what developing countries really need. That is why many projects are thinking about working on the 3rd world’s market. You won’t face problems with taxes and embargos, you will work with a market that waits it like a remedy. TheFund.io learned the hard way because even on the stage of planning ICO this crypto fund got lots of support from Asia.
Lots of projects (especially which are about to launch ICO) understood it and started working with developing countries. For example analytics from TheFund.io (the investment crypto-fund) created a system which would be available for any user all over the world, because they know that not only rich countries can and want to invest, they understand that more concerned in investment people that ones whose lives this investment can change. TheFund.io also has advisers all over the world which helps them understand the market better.
Answering the question is crypto-age is over — no. It just moved to another level. People still will buy and sell crypto, and there will more blockchain projects. However now, the world understood that crypto could be not only a method of making a profit, it’s also a sphere in which you can invest and make the world better.