Will the CBDC Boost Cryptocurrency Markets and Public Opinion on Digital Assets?

Since the initial inception of cryptocurrencies, the general public have remained consistent in their criticism and doubts of blockchain technology, often being referred to as a trend rather than being viewed for the vast potential for growth and public adoption. Over a number of years, crypto has been under fire from the mainstream news and many of the public, citing cultist behaviour and clearly denying the potential that can arise from using blockchains in everyday life.

One of the largest rises in the crypto environment are online casinos. Mainly due to needing far less payment providers on their platforms, which are extremely expensive to provide for customers.

With casinos able to allow crypto options, users are now able to track their transactions and the future looks bright due to the decentralised transactions always being traceable, a gold mine for regulators. This change has sparked a large amount of interest into gaming streamers, being able to stream incredibly volatile and gripping slots on Twitch or YouTube. On digital casino platforms, it's possible to play the most prominent casino games like Roulette online here: https://www.bodog.eu/casino/table-games/roulette. And with the advancement of cryptocurrencies, you can be sure of maximum security when depositing funds on such casino providers. 

Blockchain technologies and the innovations within have come leaps and bounds over previous years, with an ever-growing amount of eco-friendly and energy efficient upgrades piling up, the doubters of crypto technology are consistently being proved wrong. Much of the criticism is bred from crypto miners and the amount of energy being used, which in total is being likened to the energy usage of a small nation.

Can Crypto be green, or is this folklore?

With that being said, there are various coins that have come into the spotlight due to their allegiance to committing to further green initiatives. Coins that use a proof of stake, instead of a proof of work, are much more efficient in terms of energy usage but also for quicker approval of transactions, with less required to complete them. Chains such as Cardano (ADA) set a great example of an energy efficient chain, with numerous green incentives in place to live by a greener operation.

Charles Hoskinson, the founder of Cardano and previously to that, a founding member of the Ethereum (ETH) network, was an avid supporter of proof-of-stake due to its' energy efficient positives. Due to Ethereum using proof of work, the chain was not eco-friendly by any means and was one of Hoskinsons largest problems with ETH.

Ethereum and its energy usage has been likened to that of a medium sized country and it has been widely criticised due to this fact. However, 'The Merge' is set to take place and is to use around 99% less energy which is a remarkable difference and will no doubt attract more users to the network.

Due to the popularity of the chain, Ethereum hosts a massive amount of volume and is just behind Bitcoin in terms of volume traded. It's widely known as the most popular chain for trading NFT's and hosts some of the largest projects currently available on any chain, ranging from Decentralised Finance (DeFi) to NFT's even down to NFT minting platforms.

Central Bank of Digital Currency – a huge step forward for Crypto?

The announcement of the CBDC being adopted in the United Kingdom was a touchy subject for most of the die-hard supporters of popular chains, with some extremely enthused by the adoption, but leaving some anxious to the idea of central authorities getting their foot in the door of the decentralised world.

Rumoured to release in the UK by 2025, the currency is set to work alongside the current banking system and many countries are currently looking set to follow suit and adopt a 'Britcoin' like digital tender. This is by no means a surprise on the wider scale, with MiCA (Markets in Crypto Assets) beginning to ramp up in Europe, it's not likely that crypto markets and assets on blockchains will be unregulated for much longer worldwide.

The increase in more green initiatives on blockchains has ultimately led to further acceptance and understanding the power of blockchain technology. For the wider public, decentralised finance peeks a vast amount of interest for those affected in events such as the 2008 market crash and many of those affected by those events had looked into blockchain technology to avoid human error and greed in central banking systems.

With that being said, the general sense of acceptance for blockchain technology and fully-decentralised systems is becoming more and more welcomed by the general public. For many years, the mainstream news has often painted the crypto markets like the 'Wild Wild West', however, this tag has become less prominent and with more regulations and rules to be set, confidence can only become greater in turn.