“If tomorrow the world wakes up and decides that Picasso’s paintings are worth nothing, that is what they would be worth. We people are the ones who give value to things.”

The Bitcoin price explosion has taken individuals from all corners of the world by surprise, especially since its fluctuation rarely shares any correlation with any other currency, commodity or commodity traded on global markets. This month, Bitcoin has reached its all-time high. The coin has no geographical limit and its transactions are stored in a blockchain database.

In response to the risk of economic collapse due to COVID-19, governments around the world have flooded global markets with money created by central banks in order to help save the economy from this turmoil. Rising supply automatically erodes their value and makes people look for alternative inflation-resistant assets to hold.

Asia – Several countries in Asia have emerged as leaders in the cryptocurrency space and are expected to become even more influential in the near future. The degree to which countries like China, Japan, and Korea can successfully adopt these currencies will have a significant influence on global adoption. 31% of all cryptocurrency transactions from mid-2019 to mid-2020 were made in East Asia, totaling $107 billion, or 77% more than in Europe.

“More retail and institutional investors are looking for ways to hedge their assets with Bitcoin instead of fiat money or any other investment instruments like bonds and gold. Sanctum has received a flurry of requests from investors to manage their portfolio in cryptocurrency and digital asset class “. – Rico Pang: Founder and CEO of Sanctum Pte. Ltd.

India : Trading volumes on exchanges serving India-based clients have been rising since the Supreme Court in March overturned the Reserve Bank of India’s banking ban on digital currencies. From 2015 to this year, India is estimated to have traded 10,017 coins worth $94.7 million.

“The recent rise of Bitcoin has brought joy to many investors, including those in India, but not for long. The Indian government is considering taxing purchases with Bitcoin or any digital currency with 18%. Ministry officials Finance suggested classifying Bitcoin and other digital currencies as ‘intangible assets’ and GST (Goods and Services Tax) could be levied on all transactions” – Jaydeep Caravetty : Vice President of Markor Technology.

Africa : Ownership, usage, and volume of cryptocurrency exchanges, especially Bitcoin, saw an increase in Africa in 2020. Nigeria, South Africa, and Kenya are among the top ten countries where Google searches for crypto are highest.

“Bitcoin’s rise globally has reduced the attention of young people in Africa. Many have turned to trading or investing in the virtual currency to protect themselves from the weak currency and the declining economy impacted by the pandemic. It has played a role positive and essential in the pursuit of Africa’s cashless economy as it has helped unemployed Africans acquire a job through Bitcoin trading.As a result, the continent has positioned itself as the next big crypto market” – Adeleye Awakan : Author; AI, Blockchain and Fintech researcher.

Europa:?Muchas nuevas empresas europeas se están beneficiando del boom de Bitcoin. Si la Unión Europea quiere ser líder en tecnología de cadenas de bloques, la prioridad de la legislación sobre cadenas de bloques y la cooperación entre los estados miembros debería ser una prioridad máxima.

“Tres a?os después de diciembre de 2017, cuando el precio de Bitcoin subió a más de 16.000 euros, vemos una vez más que Bitcoin alcanza nuevos máximos históricos, más del doble de su ‘sobrevalorado’ precio de diciembre de 2017. Mientras tanto, muchos han afirmado que Bitcoin, las criptodivisas y las cadenas de bloqueo están muertas. El que Bitcoin continúe o no subiendo a nuevos máximos históricos depende del mercado (demanda y oferta). Algunos llaman a esto especulación, pero al final, realmente cuán diferente es eso de cualquier otro activo – ya sea oro, acciones o arte fino – en última instancia el precio está determinado por el mercado (aunque algunas operaciones pueden necesitar cumplir con la regulación).

Si ma?ana el mundo se despierta y decide que los cuadros de Picasso no tienen valor, es lo que valdrían. Somos el pueblo quien le damos valor a las cosas. Bitcoin fue el primer activo en proporcionar un medio de transacciones digitales entre iguales que no depende de ninguna autoridad o intermediario. Nosotros, la gente, vemos esto como algo de valor y como consecuencia tiene valor. Sin tener en cuenta el precio de Bitcoin determinado por el mercado deberíamos cuestionar si creemos o no que la descentralización es una característica deseable, si es así, independientemente del precio, la tecnología estará aquí para quedarse”. – ?Joshua Ellul: Presidente de la Autoridad de Innovación Digital de Malta y Director del Centro para DLTs.

Las Américas: Un estudio del Banco Mundial reveló que en América Latina tan solo el 49% de la población adulta tenía una cuenta bancaria, debido en gran parte al complejo proceso burocrático y a los costes que conlleva. El número de casos de uso de Bitcoin en América está aumentando constantemente de norte a sur del continente.

“Desde que aparecieron las criptomonedas y las cadenas de bloques, a América Latina le ha interesado involucrarse en Bitcoin como una forma de ahorrar y también como un medio para comerciar con otras monedas como el dólar o el euro, que se consideran más fuertes, más seguras y menos volátiles que las monedas locales de LATAM como el bolívar venezolano o el peso argentino”. –?Gabriel Zanko: Asesor Técnico, CEO de Urano Capital, MobileyourLife.

One of the reasons why institutional involvement has not yet gained momentum in the adoption of this asset class is the lack of clear regulations and guidelines.

About SiGMA University:

The iGaming industry is growing and expanding at an exorbitant rate. People who entered the market 10 years ago, may today lack knowledge in different areas and that is why SiGMA University is in charge of offering a diploma in iGaming. It is an introductory online course, which will be offered free of charge to anyone who signs up and aimed at anyone who wants to diversify their knowledge or wants to enter the industry for the first time. If you have any questions or suggestions, feel free to contact? Emily Micallef .

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