Don't Lose Sight Of Blockchain
India Today|January 23, 2023
Cryptocurrencies may have lost their sheen in 2022, but the blockchain technology that powers them still holds a lot of potential for our future
Rohan Murty
Don't Lose Sight Of Blockchain

Cryptocurrencies, powered by blockchain technology, generated tremendous excitement over the past few years. Investors and companies dreamt of a future where these digital currencies would power new decentralised use cases and low-latency transactions, with the instantaneous cross-border transfer of money being a much-revered goal. Yet, while 2022 was a tough year for most asset classes globally, it was far worse for cryptocurrencies.

From a peak of close to $3 trillion in November 2021, the aggregate value of all cryptocurrencies has fallen to $800 billion today, implying a loss of over $2 trillion of investor wealth. Among other factors, a series of seemingly fraudulent behaviours-due, in part, to the lack of governance, diligence from investors, and regulations in this space-hurt retail and institutional investors alike. Noteworthy events included:

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