Asia is going to be the main place for the crypto industry development in 2020
From the information of recent interviews conducted with leading crypto players, Asian countries can put the foundation for the crypto and blockchain industry progress this year.
Cryptocurrencies have an impressive history during the last decade – from surviving some of the most significant economic and financial turmoil to becoming one of the most lucrative investment assets of the 21st century. Although Asian countries are already at the top, they continue the contest, but this time among each other. The prize is obvious – becoming the next blockchain or crypto industry hub.
Central banks and the top private and public entities put all efforts for integrating this emergent technology. The competition to become the next silicon valley of the innovative technologies has never been more intensive.
Crypto experts predict: Asia will form the crypto road in 2020
Asia has all the capabilities for shaping up this industry and showing an example for the rest of the world. It should be mentioned that such an advanced country like Singapore is the best choice for leading high tech firms or crypto and blockchain startup. Clear rules make it more understandable to set the ground of the companies, and the segmented Southeast Asian market gives admittance to more than six hundred million consumer base.
Moreover, new special the Payment Services Act, which is developed by the Parliament of Singapore, is going to regulate the payment service, protect consumer concerns, and promote growth and improvement in the area. This Act should come into force on the 28th of January this year. The new bill from Singapore’s authorities will be able to open doors more widely for investment inflow and significant development.
Liu Tianwei, CEO of Xfers, believes that digital investments will multiply as an asset class. The unambiguity in Asian regulatory standards for crypto will eventually help in mainstreaming of the digital assets. Due to such a clearly-marked regulatory framework in the region, the digital market will grow as an attractive industry for fresh investors from all over the world.
Chinese President Xi Jinping’s strong aid for crypto evolution will draw more investments in this field and, without any doubts, to put the industry to the next stage in 2020. Such opinion expressed Bobby Ong, the co-founder of the crypto ranking app CoinGecko.
Spencer Yang, the VP of Operations, is sure that crypto acceptance, volatility, and liquidity will stay hot discussions during the year. Yang also declares that Asia will lead the area of innovations in crypto that will contribute their presence in our daily lives.