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The Future of Crypto
Crypto technology adoption rates have increased year-over-year at a tremendous rate. Of the 300 million cryptocurrency users globally, there are around 6 million Vietnamese, 12.4 million Indonesian, and 20 million Indian users representing 6%, 3%, and 1.4% of the total population in those countries, respectively. High inflation and low bank deposit rates have triggered a massive spike in worldwide crypto adoption, which reached over 880% in 2021 alone.
Vietnam, India, Philippines, Brazil, and other emerging markets ranked among the highest on the global crypto adoption index. Yet even in these markets, only a tiny fraction of the worldwide population has had crypto exposure. Given the success of adoption despite limited awareness, this represents a huge growth opportunity for cryptocurrency applications like Finblox in emerging economies.
Currently, we are seeing a superapp trend across ASEAN with people predominately under the age of 35, especially the younger generation born in the age of smartphones, demanding mobile-first experiences that are powerful and easy to use.
Therefore, due to the rapidly-evolving environment and consensus on cryptocurrency, we believe Finblox will be well-positioned to meet the demands of these emerging markets.
Furthermore, we hope to assist traditional investors who, understandably, are uncertain about placing their trust in cryptocurrency and other digital assets. Therefore, Finblox aims to help traditional investors understand crypto and blockchain technology through our educational resources, such as Finblox University. At the same time, Finblox will provide a seamless experience of our app that reveals the many advantages of using digital assets.
Lastly, a significant challenge hindering cryptocurrency adoption is its regulatory and legal framework ambiguity around the globe. But many countries now have realized the inevitable need to implement rules and regulations that allow the operation of digital asset exchanges. So as digital asset legitimization becomes more apparent, we see that global acceptance and mass adoption will eventually occur by the next generation, shaping a new mindset toward cryptocurrency.