With the start of the year behind us, many have already jumped into 2022 looking forward to what the crypto frontier will bring next. The markets have been as volatile as ever, but this is cryptocurrency and that is to be expected. Still the influx of institutional adoption, as well as continued growth with retail investors and consumers, continues to climb – the digital sky is the limit.
Cryptocurrencies are “Hard to Ignore” says Walt Bettinger, CEO of Charles Schwab, a financial services giant. Institutional adoption is still in its early stages and the interest from major financial organizations is growing. Similarly, the U.S. bank giant Bank of America has released a report publishing the bank’s research and opinion of digital currencies, expressing that a central bank digital currency could keep the dollar as the world’s reserve currency.
Social media giant Twitter launched NFT profile picture verification for iOS Users allowing them to display a NFT they own as their profile picture. Meanwhile Facebook and Instagram announced their plans to integrate a NFT marketplace into their platforms, as well as the ability to mint NFTs, taking it a step further than Twitter.
As cryptocurrency regulation is on the top of the agendas of many nations, the U.S. Federal Reserve released their highly anticipated report on central bank digital currencies and their potential economical effects.
With so much continued development, institutional adoption, and embracement by retail consumers, the blockchain industry along with the crypto and NFT marketplaces are just starting to heat up. It’s like experiencing the birth of the internet all over again, but now we have a much better understanding of its limitless potential.
By Ivan Dimov