At the Speed of Money: How Cryptocurrency Will Transform Everything | David Morris | TEDxTampaBay

Contents

The rate of popularization of cryptocurrencies in Russia is 4 times higher than in the USA
CONTENT

  • Russians are ready to attract new users of cryptocurrency for bonuses

  • Indonesia will be the next cryptoasis

  • Russian officials "choke" crypto business

International consortium of news organizations, developing transparency standards.

This is the conclusion reached by the researchers of the Onfo company, who evaluated the speed of dissemination of information about blockchain and cryptocurrencies in developing and developed countries..

The speed of popularization of cryptocurrencies ...

It turned out that residents of Russia and Indonesia spread information about cryptocurrency four times faster than in the USA and Germany.

Interest or greed?

 

The essence of the experiment, which was carried out by the Onfo company, was as follows. Participants of the initiative from the USA, Germany, which belong to developed countries, and participants from Indonesia and Russia, which are still developing countries, were allocated 10 crypto coins for each.

The speed of popularization of cryptocurrencies ...

A bonus was provided for attracting new participants to the experiment. The researchers wanted to find out how many people can be attracted by the participants of the initiative, knowing that they will receive good dividends for their efforts. According to the results, the spread of the “network effect” in Russia and Indonesia was 4 times faster than in the USA and Germany.

“In the United States, 100 people attracted 1,112 people. In Germany, 100 people reported 763 new people and 100 Russian members attracted 2,304 new users. The penetration rate in Indonesia was enormous, as 100 Indonesian users attracted a whopping 4,350 new members. The spread index turned out to be almost 4 times higher than in the United States, given that these two countries have the same population, ”the report says..

This experiment revealed that Indonesia and Russia are the most favorable countries for the development of cryptocurrencies in terms of popular adoption. The lack of a national lending system, combined with the growing penetration of mobile phones and the fallout from the coronavirus pandemic, make Indonesia an attractive market for cryptocurrency, the report said..

The speed of popularization of cryptocurrencies ...

Indonesia has unique conditions that make it ideal for accepting bitcoins.

Russia against cryptocurrency

 

While experts are confident that Indonesia can become a real crypto-oasis, “crypto winter” is expected in Russia. Recently, BeInCRypto reported that a bill was submitted to the State Duma that effectively prohibits any operations with cryptocurrencies in the country. For violation of the law, citizens face a huge fine – up to 2 million rubles or imprisonment for up to 7 years. Also, the package of submitted initiatives includes other bills that consider tokens as property, and cryptocurrency holders must declare it to the tax authorities. If the bill is passed, many cryptocurrency companies will be forced out of the market. And, most likely, they will find refuge in Ukraine, which is already preparing a new bill on the legalization of digital currencies in the country..

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The speed of popularization of cryptocurrencies ...

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