DAVOS 2020 Shares Mixed Remarks On The Future Of Cryptocurrency

Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.
DAVOS 2020 Shares Mixed Remarks On The Future Of Cryptocurrency

  • Davos’ World Economic Forum Annual Meeting, has been done since the 1970s, held in the paradise country Switzerland.
  • Steve asked the crypto companies to follow strict rules and follow safe procedures in dealing with cryptocurrencies.

One of the prestigious gatherings and meetings conducted to describe financial plans and economic sectors, Davos’ World Economic Forum Annual Meeting, has been done since the 1970s, held in the paradise country Switzerland. Davos 2020 mainly discussed the future of the global economy. 

However, members and organizations of the cryptocurrency world discussed more the future of cryptocurrency. Many organizations and individuals, such as CEOs and group members of crypto-related companies, wanted the meeting to see cryptocurrency positively.

Many didn’t necessarily discuss cryptocurrency, but their main focus was in the development of individual nations through the use of advanced technologies, such as Artificial Intelligence, Quantum computing, 5G network, Trade Reform, Expanding Digital Trade, Embracing energy Independence, wage growth and job growth.  

The Treasury secretary of The United Nations, Steve Mnuchin, was asked the questions on the future of cryptocurrency by individuals. On this question, Steve gave a mixed response to the seekers and was very open on this note.

Steve expressed that the crypto still used in illegal activities and trades, and their regulations are always tricky to made. Steve asked the crypto companies to follow strict rules and follow safe procedures in dealing with cryptocurrencies.

The CEO of Ripple Brad Garlinghouse gave feedback on Steve’s speech stating that cryptocurrencies also have a positive side which benefits in cross-border payment solutions with less cost per transaction and has enormous benefits for both consumers and businesses.

The reply of Steve on cryptocurrencies could have been against it. However, he hinted at a positive approach and on the future of XRP, which has upper hand when it comes to cryptocurrency out of the 5000 own cryptocurrencies which don’t have cross-border payment support.

It might have added to the uprising of ripple against USD. Ripple is trading at $0.2358, with average bulls at 0.07%. It has gained about 1.64% from yesterday, with a difference of +$0.003862 USD. It expected to climb much higher in the upcoming bull runs. 

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