New cryptocurrency projects in the world – more and more investment options

This is the conclusion of a recent study by analysts of the leading audit firm PwC, who along with their colleagues, surveyed market participants, so their observations attract special attention.

The researchers noted that global confidence in crypto-assets continues despite the fact that the percentage of traditional hedge funds investing in crypto assets fell from 37% to 29% between 2022 and 2023. This sentiment is explained not only by market factors, but also by regulatory factors, such as regulatory changes in the U.S. and the country's volatile regulatory environment. 12 % of cryptocurrency funds even told PwC that they are considering the option of relocating from the US because of this.

On the positive side is the growing interest of investors in tokenization, which sees a once major opportunity for 31% of traditional hedgers in 2023. Moreover, 25% of such funds had not previously invested in cryptocurrencies at all. They are now looking at tokenizing their assets and focusing on specific instruments. They are diversifying their investments and seeing an interesting income direction in cryptocurrencies.

No matter how much skeptics talk about the decline of the crypto market, it will not stop developing. There are only more and more interesting and increasingly diverse options for investment. Everyone will be able to find interesting projects according to their own risk model and beliefs. From Ethereum and Solana to Stellar and Dash, I am not going to give advice on this issue, but the breadth of options is remarkable.

Another category is non-exchangeable NFT tokens, and here's the good news: in mid-July, technology giant Google allowed them to be sold in Play Store apps. Blockchain-based apps are subject to the same rules as gambling projects. The objectivity of this approach is debatable, but there is no doubt that thanks to the Play Store, the number of NFT users will expand in earnest and the results will be available by the end of 2023.

Central banks' interest in digital currencies (CBDCs) has been confirmed. While earlier reports had been mostly sporadic, the Bank for International Settlements (BIS) compiled the results of a survey of 86 central banks, which revealed the overall picture and general sentiment. Namely, it turns out that the majority of central banks (93%) have plans to implement CBDCs. This is not just a generality; they are already working on a project to launch a digital version of the currency.

Four central banks have issued CBDCs: the Bahamas (Sand Dollar), the Caribbean Islands (DCash), Jamaica (Jam-Dex), and Nigeria (e-Naira). Australia, Malaysia, Singapore, South Africa, Peru, Hong Kong, the United Kingdom, the European Central Bank, and Canada are showing the results of full-scale experiments. Total by 2030, in the world there may be about 15 digital currencies of central banks and we will be interested to watch their appearance and promotion.

I am sure that new commercial banking projects will develop in parallel. Here, for example, one of the world’s largest Chinese Bank of China recently reported testing trial offline payments in digital yuan tied to customers’ sim-cards. During the test, after receiving a SIM card and installing a special application (e-CNY), people will be able to pay with this unit via NFC using their mobile phones.

For now, only smartphones running on Android will be connected to the experiment. But the results, I am sure, should still be interesting. Of course, technical or other errors may occur during the test, and that is why it is conducted. But the main thing is how users will respond to the new opportunity, how much it will interest them and attract them. The experiment will only be conducted in a few provinces of China, but even there, I am sure there will be wide coverage. So let us wait for the conclusions of Bank of China specialists.

They will be useful for all beginners and innovators. It is very desirable that new projects and launches related to digital currencies, tokens, crypto-assets become numerous. Someone may be wrong, someone may not be accepted by the market – anything can happen. The trial and error method has not been abolished, but it allows you to develop and improve. The main thing is that all this eventually leads to the appearance of interesting and useful tools for users.