Digital Currency Conclave 2022 Day 1 Live News: Amid Covid-19 uncertainties, Bitcoin, Ethereum, and other digital currencies have garnered significant attention in India and across the world. Many see digital currencies (including private cryptocurrencies) as the future of finance. However, in the absence of regulations, cryptocurrencies are currently reduced to being a speculative asset class with extreme volatilities.
According to the latest research by Markets-and-Markets, even banks have started buying crypto for the first time. Banks in the US are creating their own blockchain-based systems, including digital currencies, to enable B2B cryptocurrency payments between their customers. In October 2020, PayPal announced that its customers will be able to buy, sell, and hold Bitcoin and cryptocurrencies using their PayPal accounts, allowing customers to buy things from the 26 million sellers who accept PayPal.
The cryptocurrency market size is expected to grow from $1.6 billion in 2021 to $2.2 billion by 2026, at a CAGR of 7.1%. Transparency or distributed ledger technology and growth in venture capital investments are the key factors driving the growth of the market.
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Digital Currency Conclave 2022 Live: Importance of Digital Currency and Its Role in Modern India Live News
