#adoption

Member of the Texas House of Representatives, Cody Harris, believes that the development of a gold-backed digital currency will encourage crypto adoption.

On October 25, a statue honoring Bitcoin's founder, Satoshi Nakamoto, was inaugurated in Lugano, Switzerland. The statue, crafted by Valentina Picozzi, was commissioned as part of Plan ₿—an initiative founded in partnership between Tether and the Lugano city government to foster BTC and blockchain adoption.

Chainalysis released its latest Global Cryptocurrency Adoption Index for the first half of 2024. The report is calculated using several parameters, including the usage of DeFi and CeFi protocols, to evaluate the level of cryptocurrency adoption across more than 150 countries.

A study by SAS reveals that China is at the forefront of global AI implementation, with 83% of companies utilizing artificial intelligence. This is notably higher than the adoption rates in the UK (70%), the US (65%), and Australia (63%), with the global average at 53%.

Venezuela is stepping up its adoption of cryptocurrencies for fuel transactions in response to U.S. sanctions targeting the state-owned oil company PDVSA.

Several major financial companies have come together to create the Global Dollar Network, an open stablecoin network aimed at accelerating the global adoption of stable digital assets.

Tether, the issuer behind the USDT stablecoin, has published a new report showcasing user statistics. The release comes shortly after the company debuted its documentary, “Stability and Freedom in Chaos: The Story of USD₮.”

The International Monetary Fund (IMF) has revised its stance on El Salvador’s Bitcoin adoption. Initially, the IMF had been pressing for a complete ban on BTC’s use as official legal tender since 2021.

The Arbitrum Foundation announced its partnership with Paxos to bring its network to the regulated tokenization platform, making Arbitrum the first Layer-2 blockchain to do so. This collaboration is a key step toward building a network designed for institutional adoption.

Denelle Dixon, CEO of the Stellar Development Foundation, argues that the key to broad adoption of blockchain protocols is to facilitate easy transfers between traditional finances and digital assets.