Crypto Is Creeping Into The World's Economy

It is laughable when you look back on the criticism the crypto space has had over the years, it was almost like the technology being developed was a shit to literally every next neighborhood, but as time passes, tables have turned and it's quite incredible to embrace the growth thus far.

Crypto runs a delicate technology, it calmly bites into major sectors of finances, why? To create a value system that changes financial settlements. Being a wealth distribution network sounds like a tough task from an angle of many greed index, but crypto has managed to build on this knowledge, a network of different protocols, deploying statistically, billion dollar innovations.

Tackle By Category

According to data acquisition from defillama, Defi most used unit of value measurement, the Total Locked Value(TLV) is currently over $200 billion dollars. When you look at it, sector by sector, crypto is not looking to be stopped any time soon. The general market shares a $2.19 trillion, and roughly $220 billion, at the time of writing, is locked into Defi. While I envision Defi to be the new banking system through which numerous financial tools will be deployed sector by sector ( protocols and blockchains), in a way that new bank names are made in this ecosystem.

Taking The Fiat Spotlight

This may sound like an impossible target, but so long as there's an arrow and a bow, the bullseye is only a target that can be covered by distance traveled. The Russian Ukraine war has opened up quite a lot of things about the governmental system, many of which shows the true skin of centralization. The Russia Prime Minister, Economy Ministry Support Legalization of Cryptocurrencies, this, as opposed by the Central Bank of the nation, but of course this isn't about the upcoming adoption which at this point, would take a gradual process.

The actual points to note here is the rate of crypto usage, people have always said that crypto couldn't beat fiat on a day to day trade, but looking at Ukraine, it already has! Reports from new york times the Eastern European country(Ukraine) processes more transactions per day in cryptocurrency than in its fiat currency, the hryvnia.

And more to this, the nation is already leveraging several crypto options to hedge financial wars, one of which includes NFTs, which everyone agrees that it's the fastest way to raise funds. So much is happening and very little is being said, in fact, if we're being honest, there were times when so much was said when nothing much was happening, now is the reverse, and the slow and steady growth is quite an advantage to build a block on this ecosystem.