The year 2020 was a big blessing on the side of cryptocurrency and blockchain technology. This is the only year where using digital payments including Bitcoin and other cryptocurrencies, was a must-do thing whether directly or indirectly. So, let us see the biggest achievements of the distributed ledger technology and digital currency sector in 2020.
Most cryptocurrencies have been bullish in this year, and are expected to do even better in 2021.The year 2020 is ending on a good note on the side of the cryptocurrency industry. The year has seen governments begging citizens to use digital payment solutions instead of fiat money.
According to the statistics, there was a massive increase in the number of people watching porn during the first round of total lockdown. Now, when most countries are strengthening limitations again, people need something to endure this, especially considering the holiday season.
Binance exchange has achieved significant things in 2020 and it is now ending the year with a cryptocurrency-backed Visa payment card. This has made it to be among a few firms that are offering digital currency cards.
Recently, the payment merchant PayPal entered the cryptocurrency industry by having launched a buy and sell services. This event caused a drastic bull run of most major cryptocurrencies. However, soon enough the service faced serious problems with one of the users, causing most coins to collapse.
Since the advent of cryptocurrency, the digital payment world has become very diverse. New forms of digital currencies are being developed every now and then. One of the latest developments include social tokens, a form of digital assets that are backed by the reputation of the community, the creator, an individual or a brand.
The European Central Bank Governing Council is advancing the work on the possible issuance and circulation of a digital euro, a type of central bank electronic money that would foil cash, not substitute it. Authorities want people to access and use these two types of money together, to offer greater choice and easier access to means of making payments.
The rapid digitization of the world caused many players from the traditional finance sector to explore and adopt innovative solutions including cryptocurrency. In its turn, it has brought enough good news to the market to take Bitcoin price to new highs.