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From The World Economic Forum They Point Out That The Adoption Of Technology Linked To Cryptocurrencies Is Inevitable

Dante Disparte, Head of Global Strategy and Policy at Circle Internet Financialspoke in a recent article published on the website of the World Economic Forum, about the current situation of cryptocurrencies and the relevance that they now represent for society and various economic sectors.

After a review where he mentioned that 2022 was a terrible year for cryptocurrencies, with the loss of 2 trillion dollars in market value, with millions of consumers and companies losing money, disparte mentioned that for die-hard crypto-utopians and some crypto-anarchists, 2022 had been not just a “crypto winter”, but rather an ice age, with only the underlying crypto and blockchain technology continuing to advance unabated.

“While the underlying crypto and blockchain technology is generalizable to all industries and coordination activities (collectively, the building blocks of Web3), experimentation at the core of financial services, among other sectors, continues unabated.”said.

“Indeed, for proof of the staying power of digital assets and blockchain at the center of financial services (and other areas of the global economy), look at what big banks and mature financial services firms are doing. not what they say”added Disparte in his article.

In this sense, He took JP Morgan and its change in attitude towards cryptocurrencies as an example, arguing that despite the fact that boards of directors and executive teams reluctantly assumed their cybersecurity and digital transformation mandates, they ended up accepting a reality that shows the adoption of cryptographic technology as inevitable. “Even if the term seems like a dirty word. Despite all its flaws, this technology continues to be a protagonist in the global financial world.Disparte maintained that, in addition to closing his letter, he spoke about the regulatory enigma that these new technologies presented, not free of risks and errors such as those experienced in 2022.

“Countries that enable responsible competition will shape the future. Cryptography and blockchain will continue to be integral parts of the modern economic toolkit, despite the great damage these tools may have caused when handled by the wrong people.”he concluded.

Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

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