Asia-Pacific Becoming Blockchain Development Hub
The Asia-Pacific (APAC) region is one of the world’s fastest-growing regions, with countries such as China, India, Japan, and South Korea driving technological and economic development in the region. Surprisingly, the APAC area has seen a significant increase in blockchain-related projects, investments, and usage.
China’s 2021 restrictions on cryptocurrencies and mining have been gradually reversed, acknowledging the importance of blockchain technology. India has the highest number of crypto holders, with over 27 million digital assets, while South Korea and Japan are investigating blockchain-based currency usage.
Asia is emerging as a blockchain development hub due to factors like growing infrastructure, government support, diverse user base, entrepreneurial spirit, financial services industry interest, cryptocurrency market activity, tokenization, smart contracts, digital transformation, and strategic positioning.
(With inputs from Shikha Singh)
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