Crypto evolution
The appearance of the present crypto demographic may have detractors questioning its potential, but it is a fact that cryptocurrencies are proving vital to nations with poor banking infrastructure offering financial inclusion to the underserved with the democratization of money.
PALO ALTO, Calif. (PRWEB)
May 07, 2022
PayBito Chief Raj Chowdhury expressed his views on the existing diversity patterns across the global crypto-sphere, stressing on the need for overall balance for the sustained development of the digital asset ecosystem.
Multiple metrics reflect that the crypto community comprises mostly of men, with some reports indicating a gender disparity ratio of more than 2:1. Further analysis reveals the white male-dominated demographic is changing with a growing number of ethnically-diverse people joining in, recognizing its true value. A US poll found higher crypto adoption among African-Americans(23%) and the Hispanic community(17%) than whites(11%).
The PayBito CEO, a noted blockchain pioneer, states, “The appearance of the present crypto demographic may have detractors questioning its potential, but it is a fact that cryptocurrencies are proving vital to nations with poor banking infrastructure offering financial inclusion to the underserved with the democratization of money.”
Over 100 million of the estimated 300 million global crypto-asset holders live in India alone. Global crypto trends often reflect a higher adoption rate in developing nations rather than the developed ones- particularly across Latin America and Africa. Countries like El Salvador and the Central African Republic have adopted Bitcoin as legal tender, while Ukraine started accepting crypto donations after the Russian invasion.
“Crypto has proven its worth as a force for good with efficient low-cost cross-border payment systems, remittance, humanitarian DAOs, DeFi-lending mechanisms, and more. What’s needed for further contribution at a global level is a balanced approach with participation from all sections of the society,” concluded Chowdhury, who had previously spoken against the EU’s crypto curbing laws, and the need for crypto ventures to prioritize security.
The Chowdhury-led PayBito offers a wide array of trading options to crypto enthusiasts and traders worldwide. The US-based company also offers white label crypto solutions, including exchange software for institutional investors venturing into crypto trading services. PayBito’s products have been successfully deployed across multiple countries such as UAE, Singapore, Australia, Canada, and more.
Crypto’s global crypto market capitalization of $1.7 trillion indicates it has already made its presence felt in the mainstream. The impact of its contribution can be optimized further with a steady perspective and positive engagement from all sectors.
Raj Chowdhury is the Managing Director of HashCash Consultants and Paybito. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book ‘The Dark Secret of the Silicon Valley’, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
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