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Digital assets are taking over the conversations of the world population.
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The mainstreaming of cryptocurrencies, NFTs, and Decentralized Finance (DeFi) is at an early stage.
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However, 2022 will be a year of new trends and changes in the ecosystem of digital assets.
In the last year, hearing about digital assets such as cryptocurrencies, NFTs and Decentralized Finance (DeFi) is ceasing to be “the future” of conversations and especially of online transactions. Today IThe need to establish regulatory frameworks that limit commercial movements and that users feel safe to invest in their potential. In an effort to break down the reality of digital assets, Chainalysis proposes the trends and change in the digital ecosystem that will be observed in the near future.
According to Kim Grauger, Director of Research at Chainalysis, in an exclusive interview with Merca 2.0, “the use of cryptocurrencies is growing faster than ever”.
Its adoption in the world is on the rise, according to Statista, although the price of cryptocurrencies is volatile and there are problems arising from fluctuations in the value of virtual currencies, they do not prevent investors from losing enthusiasm.
Investing in cryptocurrencies is becoming more and more popular, at least in India, during 2021, 18 percent of the respondents said they own bitcoins. Also, technology-based currencies blockchain They have also experienced a significant boom in countries such as South Korea, the United States or Germany.
“In Spain, 14 percent of respondents claim to use or own cryptocurrencies in 2021, up from 10 percent in 2019. Instead, in two Latin American countries, Brazil and Mexico, the percentages remain unchanged”said Mónica Mena Roa, Data Journalist at Statista.
In Mexico, Dr. Oswaldo Reyes Corona, a specialist in issues of blockchain Y crypto, assured in an exclusive interview with Merca 2.0 that cryptocurrencies begin to play the most important role in modern financial history.
“In Mexico there is one of the cryptocurrency operating companies that is the most important not only in this country, but also in Latin America, even this company is already close to the value of 2 billion dollars, and therefore, it is considers him a unicorn business-wise”, he explained.
Mexicans in the cryptocurrency ecosystem will reach 10 million by the end of 2022 and by 2025, 1 in 4 Mexicans will be immersed in cryptocurrency technology. blockchainhe added.
Trends and changes in the ecosystem of digital assets (cryptocurrencies, NFT and DeFi)
The market for NFTs (Non-Fungible Tokens) will continue to evolve: digital assets are characterized by being unique and irreplaceable, so their value increases.
In 2021, Chainalysis registered transactions for more than 40 billion dollars and as of April of the same year, sales of NFTs registered in the blockchain of Ethereum during the previous 30 days generated a value of almost 64 million dollars and after January 15, 2022, the aggregate value of the sales during 30 days amounted to approximately 150 million dollars, indicates data from Statistical.
Its popularity has grown to the level that public figures, plastic artists, collectors and the general public sell their own objects or works of art using this technology.
DeFi products have the potential to transform the financial system; however, Chainalysis considers that a platform where crypto investors, NFTs and DeFi solutions have not been developed, that is, an app that is all in one.
For Phipil Gradwell, Chief Economist at Chainalysis, a great lesson of web 2.0 was that consumers like platforms, and a platform that guarantees the interrelationship of digital assets.
Governments will adapt their policies to cryptocurrencies; Mexico has positioned itself as one of the nations with permissive laws and regulations for these instruments. On March 9, 2018, a Decree was issued in the Official Gazette of the Federation (DOF) issuing the Law to Regulate Financial Technology Institutions which partially regulates cryptocurrencies.
In it it is stated that Mexican financial institutions are not authorized to carry out or offer transactions with virtual assets to the general public; however, the Law is not restrictive for the development of an ecosystem crypto in Mexico.
Europe and the United States have begun to regulate the use of cryptocurrencies, for example, in Spain, the Central Bank approved the registration of the cryptocurrency platform Bit2Me as a provider of virtual currency exchange services and to be approved it had to have the regulations to prevent money laundering and the financing of terrorism.
Cryptocurrencies are being an attraction for fraudsters, A Crypto Crime 2022 report by Chainalysis revealed that cryptocurrency-based crimes hit a new all-time high in 2021; however, only 0.15 percent of cryptocurrency transactions are related to illicit activities.
The revolution of the economy comes with the massification of the technology of the blockchain. In the not too distant future, young people will start investing in digital assets in crypto art rather than having an apartment or some aspiration as we know it today. The previous trends and opinions only reflect the great opportunity that exists to decentralize the currency, to have financial alternatives and create new assets of value in society that go beyond the tangible.
