Although cryptocurrency has almost taken over the interest of the younger generations, most societies are still unaware of or have refused to accept cryptocurrency usage.
Several others like the United Arab Emirates are making bold moves to not only adopt but make UAE a hub for Web3 and other Blockchain enthusiasts with huge amounts of investment.
Bitcoin, the first cryptocurrency to be created and the most traded asset was developed in January 2009 by a computer programmer or group of programmers under the pseudonym Satoshi Nakamoto, whose actual identity has never been verified. There have been waves of adoption and introduction of other digital currencies to work in Passu with Bitcoin.
Third-world and developing nations have not been left out as a large number of traders and owners of crypto assets are from third-world countries. It has been discovered that cryptocurrency came with a wave of digital and financial awareness as many have ventured into blockchain and are making a living from it.
Aside from the green and good era of Cryptocurrency, there have been eras of downsides and losses, otherwise known as the bear season where most assets lose value and cryptocurrency holders without the fortitude to bear with the market, panic-sell their assets and lose even more.
Due to these losses, several countries including the US have made proposals to regulate the custody of assets with centralised exchanges and bodies. These rules are believed to cause the once-volatile crypto space to be highly volatile.
Several countries have adopted cryptocurrency usage, the first being El Salvador, a country in Central America which took months to lay the foundation through their Bitcoin law, before formal adoption on September 7, 2021.
Other countries like Canada, Singapore, Gibraltar and UAE have adopted cryptocurrency too. Countries like Australia, Malta, Germany and Liechtenstein have grown into friendly jurisdictions, the latter being the world's richest nation per capita and the country with the most comprehensive Cryptocurrency tax policy as of 2021.
The future of cryptocurrencies has been progressing positively over the years with several Central banks around the world adopting the blockchain in launching their own digital tokens. We can boldly say that massive adoption is taking place worldwide.
With adoption comes job opportunities in new sectors that will be adopting this great technology.
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