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[REAPCHAIN Column] 2021 Blockchain Ecosystem ‘Overview’

Blockchain-based businesses have long been marked as new businesses of the future.

What happened this year when the unlimited expansion into the virtual asset ecosystem was centered on giant corporations with significant funds and human resources?

This year, the growth of the virtual asset market was remarkable. In the case of Bitcoin, the significant stock, it started trading at $28,994.01 this year and reached an all-time high of $68,789.63 on November 10.

This is a 137% increase compared to the beginning. For reference, the market capitalization of all virtual assets, including “Rookie” Ethereum, which follows Bitcoin, began at $77.47128 billion on January 1 and more than tripled to $2.2222 trillion as of December 16.

This shows how high the status of virtual assets, which had been devalued as speculative targets in the past, has risen.

2021, a ‘virtual asset market’ that stands tall as a reality, not an illusion

As virtual asset markets such as decentralized finance(DeFi) and non-fungible tokens(NFT) grow rapidly, the ransom of companies carrying out related projects is also rising.

In particular, virtual asset companies that are highly regarded for their growth potential, such as game companies based on non-fungible tokens (NFT), have been caught moving quickly, such as mergers and acquisitions or investments.

Significant figures supporting this are also being released one after another. For example, as of the second quarter of this year, blockchain startups worldwide are estimated to have attracted about $4.4 billion in investment from institutional investors such as private equity funds and venture capital (VC).

Experts say the keyword “expandability” emerged, including giants buried in traditional industries such as distribution and manufacturing. As an alternative, the current and future value of the virtual asset market rooted in blockchain technology may have seemed attractive.

Blockchain expands to payment system “How far?”

The payment system market using blockchain technology has also continued to develop this year. For example, JP Morgan recently established a blockchain-based payment system at Siemens, a German IT company.

REAPPAY, using hybrid blockchain REAPCHAIN, also had a great year. It prepares a “PAYMENT NARA” that combines a simple payment system and decentralized finance(DeFi). In addition, REAPCHAIN continued research and development to showcase blockchain projects used in all industries.

For reference, in the case of “PAYMENT NARA,” payment fees are drastically lowered through blockchain-based services, and existing practices that were deposited three to four days after card payment are reformed to allow settlement the next day.

What is the prospect of the blockchain ecosystem in 2022?

According to ‘Crypto Theses 2022’, data recently released by virtual asset exchange Korbit, the trend of the virtual asset industry is expected to be optimistic next year as well.

▲Continue growth and maintain status with the most extensive stock, Bitcoin. ▲Accelerate the development of non-fungible tokens (NFT) and decentralized finance (DeFi) as the Web 3.0 trend deepens ▲Increase inflow of crypto funds due to segmentation of the virtual asset market. I’ve heard it based on that.

REAPCHAIN, which is serious about blockchain, is also preparing for expansion and a leap forward. We plan to expand and develop through collaboration with various industries, such as trendy projects using non-fungible tokens (NFTs) and carbon emission trading platforms.

In 2022, the role and weight of REAPCHAIN and affiliate REAPPAY are expected to increase at the center of the blockchain ecosystem.

[Source] [REAPCHAIN Column] 2021 Blockchain Ecosystem ‘Overview’ | Author ReapChain

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ReapChain aims to establish a safe and transparent IoT ecosystem based on blockchain by utilizing the technology for the entire endto-end section of the IoT industry.

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