2020 will go down in history as one of the most unstable periods of the new century. Half of the year has already passed and we have lived through a pandemic, military clash, ecological disasters, rising unemployment, protests and demonstrations around the world, and so on and so on. Despite the total worldwide chaos, for some markets, 2020 has become a springboard up.
A Breath of Fresh Air
The digital currency market is a good example. We are seeing more and more countries, payment systems, and individuals turning into cryptocurrency pathways.
Yesterday, Paypal confirmed the development of a cryptocurrency, The South Korean government announced that they plan to invest over $48.2 billion in blockchain by 2025, and China – which has had an aggressive policy towards blockchain and in 2018 set up a nationwide crypto ban, announced a collaboration with Chainlink to contribute technical support to the national blockchain infrastructure project.
This latest news has strengthened the position of cryptocurrency and no one doubts that cryptocurrency has already become a real part of the financial market, and the development of blockchain as an industry is now a strategically important technological priority of different countries.
Crypto Going Strong
First of all, compared to the rest of the world, the cryptocurrency market in 2020 shows a completely different dynamic. The competition in the digital currency market during the pandemic has grown a lot. Digital currency, which caused a lot of early skepticism, today due to less dependence upon market conditions, has turned out to be less vulnerable to the external shocks that the world has faced in 2020.
The cryptocurrency industry as a whole has become more structured, stable, and mature. The development of crypto market regulations led to the fact that cryptocurrency exchanges began to close less often, also there have been no major revelations and scam cases yet this year.
Therefore, the majority of cryptocurrency market participants who invested in different digital coins were in a stronger position and less vulnerable to global shocks. Now, when the cryptocurrencies from the prospective trend have grown to be a strong alternative for the financial systems already in place, any delay in the development of digital currencies and blockchain can cause a loss of position in the international arena and loss of profit in the future.
Driving the Adoption
Despite the obvious perspective of the cryptocurrency market, it is still incomprehensible to a lot of people. That’s why the extremely important issues for industry leaders is how to make understanding cryptocurrency more accessible, and make tools of operation easier to use not only for the government, but also for private and business issues as well.
Lumi Wallet team has chosen this exact direction. The wallet was originally developed with a usable interface. For better transparency of operations, developers canceled all in-wallet exchange fees. The next step is the popularization of the basic knowledge of the cryptocurrency market.
So stay tuned to our wallet, enjoy the usable interface, transaction security, and check back for our updates and news on Twitter, Telegram, Facebook, Reddit, or in our LinkedIn. Let’s study the cryptocurrency market together step by step!