Crypto’s Future Evolution Depends on Active Association and Balance: Raj Chowdhury

  • May 9, 2022
  • Jennifer Moore

PayBito CEO and noted blockchain pioneer Raj Chowdhury enunciated his views on current diversity trends within the expanding crypto ecosystem. The blockchain expert highlighted why a comprehensive balance across the digital asset environment is essential for its sustenance.

Diversity Patterns Among Crypto Owners 

Several metrics indicate a large gender disparity within the global crypto community, with some reporting the ratio to be more than 2:1 between men and women. The previous demographic consisting predominantly of white men has changed significantly with the growing participation of people from ethnically diverse backgrounds warming up to the true potential of crypto. In the US, the crypto-owning population consists more of African-Americans(23%) and Hispanics (17%) than the traditional white community(11%).

CEO Speak

Chowdhury states, “The appearance of the present crypto demographic may have detractors questioning its potential, but it is a fact that cryptocurrencies are proving vital to nations with poor banking infrastructure offering financial inclusion to the underserved with the democratization of money.”

Growing Global Crypto Adoption

India alone has more than 100 million digital asset owners of the estimated 300 million global crypto population. Recent trends reflect a higher adoption in developing nations rather than the already developed ones, especially in Africa and Latin America. The Central African Republic followed El Salvador to become the second nation in the world to adopt Bitcoin as legal tender. Ukraine opened up to accepting crypto donations following Russia’s invasion of its sovereign territory. 

“Crypto has proven its worth as a force for good with efficient low-cost cross-border payment systems, remittance, humanitarian DAOs, DeFi-lending mechanisms, and more. What’s needed for further contribution at a global level is a balanced approach with participation from all sections of the society,” mentioned Chowdhury, who had previously voiced his criticism against the EU’s laws curbing crypto growth.

Wrapping Up

With over US$1.7 trillion in global market capitalization, cryptocurrency has already made its mark venturing into the mainstream. The positive benefits of crypto can make a far better contribution with a fixed perspective and active participation from every sector across the globe.

Source: https://finance.yahoo.com/news/evolution-crypto-rests-balance-active-070000115.html

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