Countries Will Jump Aboard the Crypto Bus in 2022, Says Nischal Shetty

Nischal Shetty is the founder and CEO of WazirX, a Mumbai-based cryptocurrency exchange, and Crowdfire, a marketing bot that helps creators grow their brands. WazirX is an open-source exchange that uses computerized matching to facilitate peer-to-peer trade. As a social media guru and entrepreneur, he was included in Forbes India's 30 Under 30 list in 2014.

Crypto Predictions For 2022: Growth In India and Regulatory Clarity

The year 2021 has demonstrated the promise of cryptocurrency, particularly in India. In only this year, the Indian market has risen by at least five to ten times. And this is the tipping point when 2022 will most likely outperform 2021 in terms of growth...With all of the money pouring into crypto, tens of thousands of crypto companies will likely emerge by 2022.

We are most likely in the final phases of regulation, with governments such as India and others pondering what crypto rules should look like. We'll see a lot more countries working to create that regulatory climate in their own countries.

CBDCs in Greater Numbers

CBDC (central bank digital currency) has been the talk of the town, and we've seen some preliminary attempts. However, by 2022, many more countries will have adopted and implemented their own CBDC.

The scalability of blockchains is one of the main concerns currently in the blockchain ecosystem, which is either slowing down or has the potential to slow down growth.

“My prediction is that in 2022, you will see some scalable solutions to the existing problems that blockchains are facing,” Shetty stated.

Cryptocurrency Acceptance Continues to Grow at a Breakneck Pace

Countries understand that they either participate or risk being left out. This is not a technology in which one or two nations decide their fate; instead, it is a technology that encourages all nations to participate, which is a wonderful thing akin to the internet. Today, around 150 million individuals are interested in cryptocurrency. There are 4.73 billion people on the internet, so there's a long way to go. Looking back, every country had to embrace and adapt at some point, and crypto will be no different.