Every investor hopes that crypto will recover this year, but that's afraid it hasn't happened yet.
World Economic Forum (WEF) Digital Currency Governance Consortium official Dante Disparte likened the current crypto market situation to the crisis of internet-based companies, the Dotcom Bubble that erupted in the late 1990s.
Earlier during the Dotcom Bubble crisis in 1995, only a few companies were able to keep their businesses from being destroyed or bankrupt.
Following that, the WEF warned that the future of cryptocurrencies will be driven by the regulatory framework issued by a government, although so far the regulation of digital assets remains unsatisfactory.
However, it should be noted that some unscrupulous individuals will do their best to take advantage of the growing crypto market to make huge profits.
Therefore, crypto-related technology should be monitored by a reliable party so that every investor can further increase his trust in digital assets.
The WEF is also reported to have encouraged every company to focus on cryptographic and blockchain based technologies after seeing the banking giant JPMorgan as one of the institutions that has rapidly adopted the use of blockchain technology.
Although the technology has the potential to be vulnerable to fraud, the Geneva-based WEF is convinced that the use of crypto and blockchain is one of the most important components of the future.
