‍Key Moments for Blockchain in 2021

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2021 was a year full of surprises, especially for blockchain technology! PBWS featured for you key advancements regarding the ecosystem.

1. The formal Introduction of CBDCS (Central Bank Digital Currencies)

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CBDCs have gained a lot of traction and are now a legitimate alternative to the future of money. These local and digital currencies powered by governments, have already been implemented in China, and should be ready worldwide by 2030.

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2. Mass DeFi Adoption

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Decentralized Finance is now prevalent thanks to the emergence of cryptocurrencies, allowing instant and decentralized transfers between two parties.

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3. NFTs on the Rise

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NFTs have been established and are now a legitimate way for individuals to collect and effectively prove ownership of digital goods. Their surge in popularity was also noticed by corporations, who now use NFTs as a vehicle for branding and community.

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‍4. Functional Interoperability between Blockchains

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Significant progress was made in blockchain development, allowing interoperability (the immediate communication between two different blockchains).

‍5. Crypto & NFT Exchanges are Now Established

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Crypto exchanges and NFT exchanges now play a central role towards the mass democratization of crypto assets, forging a path to a new version of the world wide web.

‍6. Cryptocurrency Market Cap Surpassed US$ 2 Trillion

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Cryptocurrencies are now mainstream, surpassing US$ 2 Trillion in Capitalization.

‍7. Universal Identity

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Blockchain is now used by Governments to assess and prove identity, forging a path for a more secure, and transparent world.

8. Corporate Blockchain

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Corporate Blockchain is now valued by corporations, helping entities to store and transfer information in a much faster way.

‍9. Blockchain growing at a CAGR of over 63%

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Blockchain grew at a CAGR of over 63% this year and is expected to continue its massive growth until 2025.

‍10. Blockchain and Environmental Concerns Addressed

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Environmental concerns regarding the blockchain have been addressed, and corporations and developers are now working towards a green blockchain, making the technology applicable at scale.

11. The Metaverse is here to stay

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The metaverse is now finally real, allowing individuals to experience social interactions in a virtual world. This will create infinite economies and opportunities for stakeholders of the Web 3.0.

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Join the Paris Blockchain Week Summit now to learn more about the industry! Should you be interested in NFTs, be sure to check out the Paris NFT Day!