Bitcoin was created in an attempt to get a new world currency that would deliver people from financial intermediaries and allowed to transfer processing of transactions, completely decentralized peer to peer network. It helped to get off the needle banks and to much power to governments. Expert data analyst Matt Aalborg tried to answer questions about whether the coin fixed in the minds in the global sense of the word.
He published a scientific article on Medium. It says that Bitcoin in its history, is constantly faced with obstacles. However, even in this scenario he was able to justify its existence and it seems even the works in accordance with the plans of Satoshi. Says Ambcrypto, the analyst argues his words with statistics on trading volumes LocalBitcoins.com. According to his study, and although Europe and North America first adopted a cryptocurrency, Asia and Latin America gradually overshadow the country’s first world’s daily trade volumes.
Aalborg used a new metric to quantify and analyze the degree of adoption of Bitcoin worldwide. “One [online] economic man” or UP[O]EP was developed with a view to adjusting the difference in value of the Fiat currency against the dollar in different parts of the world. The combination of these data and the global animated chart research Alberga allow to draw interesting conclusions confirming the hypothesis about the success of Bitcoin.
The data indicate that levels UP[O]the EP has steadily increased in countries with low levels of economic freedom being unpopular fiscal and monetary constraints. For example, China and Venezuela bans unwittingly become the catalyst for the adoption of cryptocurrency. In addition to this metric on the adoption of cryptocurrencies are also beneficial a high level of technical literacy, Internet accessibility, smartphones and so on.
There are countries on the type of Turkey and India, where there are quite a fair environment for the adoption of cryptocurrencies, but it does not. According to the study of Aalborg, this is due to many factors, including local laws, customs, culture, and ingrained habits.
The author also found out that although in developed countries the use and adoption of the cryptocurrency in some sense stalled, they [cryptocurrencies] are rapidly gaining popularity in third world countries. More data look at cryptodata.
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