The article discusses the increasing support for stablecoins and the digitization of the US Dollar, which is shifting the focus back to the fundamental uses of cryptocurrency in value storage and payment systems. A Consensys report indicates high cryptocurrency ownership in emerging markets like Nigeria, India, and South Africa, with a significant portion of the population reporting crypto wallet ownership. Igor Kucherenko emphasizes the limitations of Web2 banking systems in addressing the needs of millions who lack access to traditional financial services, highlighting the unique role of Web3 in these unstable economies.
Wallet ownership statistics highlight a remarkable trend in crypto adoption, with over half of the population in Nigeria and South Africa reporting ownership in 2024.
Igor Kucherenko emphasized that Web3 is addressing gaps left by traditional banking systems, especially in countries with unstable currencies and high numbers of unbanked people.
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