Changpeng Zhao: This Year Will Be A Good Year for Cryptocurrency Adoption

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In 2022, global cryptocurrency adoption will jump from the current 5% to 20%. The main drivers will be the SocialFi and GameFi sectors. This forecast was given by Binance CEO Changpeng Zhao in an article for the Indian version of Fortune.

The head of Binance noted that 2021 was marked by “rapid innovation” in the field of DeFi. He highlighted the above segments and NFTs.

Zhao also pointed out that a number of challenges remain at DeFi, especially in “creating sophisticated financial instruments, ensuring liquidity and capital efficiency, and managing risk and safety.” He expects their decisions as the sphere develops.

Regarding India, Zhao noted the importance of government support for blockchain and cryptocurrency innovation, regardless of asset classification.

According to the report NASSCOMThe crypto market in the country is expected to reach $ 241 million by 2030 and potentially create 877,000 jobs. The organization also predicts an increase in the inflow of funds from retail investors in digital assets to $ 15.6 billion by 2030 from $ 6.6 billion at present.

“India will benefit as the crypto industry can provide funding opportunities for entrepreneurs, alternative sources of income for individuals, and stronger support for local developers,” Zhao said.

He stressed that the country is ready to “become a leader in the field of blockchain and cryptocurrencies.”

“In addition to banking and financial services, DLT technology can improve the efficiency of land transactions, supply chains, agriculture and corporate sustainability,” Zhao added.

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