WEF Gives Crypto a Spot in the Global Economy

The World Economic Forum (WEF) has placed crypto and blockchain technologies in the future of the global economy.

The World Economic Forum (WEF) has placed crypto and blockchain technologies in the future of the global economy.

According to the World Economic Forum, responsible regulation and sustainable experiments will secure the future of crypto in the global economy, according to a recently published WEF-report. At the start, the report frames 2022 as a "terrible year for crypto" and says about $2 trillion of the market has vanished.

It goes on to say that "the fundamental confidence in the promise of crypto financing is waning." Policymakers who warned about the "excessive risks" of crypto are now justified, according to the WEF.

To illustrate the staying power of digital assets and blockchains, the forum points to the big banks. The U.S. megabank JPMorgan, along with other large financial institutions, are said to be anchoring themselves in Web3, the report says. Adoption of crypto tech is inevitable, it adds.

In conclusion, the WEF forecasts that "cryptography and blockchains will remain an integral part of the modern economic toolkit."