In 2021 crypto experienced more adoption and breakthroughs and the momentum is expected to continue in 2022. Thanks to that same year, society came to learn about bitcoin and many other cryptocurrencies including the World Causecoin (CAUSE).
In 2022 cryptocurrency is like to find leeway in three main sectors which are;
· Acceptance as a form of payment.
· A rise in the non-fungible tokens (NFTs)
· Increased regulatory scrutiny.
Acceptance as a form of payment.
Cryptocurrencies such as Bitcoin, Ethereum, and the World Causecoin are likely to be used as a method of payment. We’ve already started to see this rolled out with the likes of PayPal, Visa, and Mastercard during 2021. The trend toward crypto-assets being used for transactional purposes seems to be a permanent one. The technology to allow digital currency to be used in everyday transactions is already existing and, as the popularity of cryptocurrency continues to increase over time. “By the end of next year, we’ll have at least five countries that accept Bitcoin as legal tender’’. Alexander Höptner, CEO of BitMEX.
· Rise in the non-fungible tokens (NFTs)
In the year 2021 NTFS experienced a new kind of wave. Though at first, they were a way of proving digital art ownership, they have evolved to include other forms of digital property, such as real estate. They are now expected to bloom and set a new record and new forms of NFTs applications come up in the year 2022.
· Increased regulatory scrutiny.
Lack of regulation has been a major blockade to cryptocurrency adoption. According to Times Malta report, with the increasing government administration and the fact that many nations are considering implementing their own national digital currency versions, it is likely that more other nations will be attracted to the new form of currency which leads to the rise of more crypto regulations in the year 2022.
With all the exciting news on cryptocurrency, investors are urged to be more cautious of what they read on the websites. One must do their own due diligence, as one thing for sure is that more fraud and Ponzi schemes are likely to erupt in 2022. A good example is the common squid game crypto show aired on Netflix that provided evidence of forms of fraud.
Cryptocurrency talks are likely to be major conversations as many people are becoming interested in it. Many individuals including big companies are adopting it and it is likely to bring more economical disruptions in 2022 as never expected before.
“The exciting part of 2022 is that crypto is no longer at this point in time where it will have a single narrative.” Benjamin Arunda, author of ‘Understanding Blockchain’, and a senior research analyst at World Causecoins.
