CSAO Leading In Digital Currency Adoption
According to some, doing is the best way to learn. A sneak preview of the 2023 “Global Crypto Adoption Index” by Chainalysis reveals that Central & Southern Asia and Oceania (CSAO) is well ahead when it comes to blockchain technology and digital currency.
This is the fourth year in a row that Chainalysis has released this study. To gauge the ‘grassroots’ adoption of blockchain technology and digital currencies, it considers both on-chain and real-world data.
The CSAO area is home to six of the top ten nations. India, Nigeria, Vietnam, the United States, Ukraine, the Philippines, Indonesia, Pakistan, Brazil, and Thailand are listed in that order.
The report shows that global adoption of digital currencies is down, but Lower Middle Income countries have recovered the fastest. It examines data from 154 countries, including on-chain and real-world data, and uses subindexes to measure countries’ usage of different services. The data is weighted by population size and purchasing power, and is ranked on a scale of 0-1.
(With inputs from Shikha Singh)
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