Digital assets and mainstream adoption: Changing paradigm of personal finance

economictimes.indiatimes.com:

digital assets traces its origins to 1998, marked by Nick Szabo's visionary concept of 'bit gold' – a decentralized digital asset. Cut to 2023, cryptos are the most well-known digital assets with more than 20,000 of them in circulation.

How did the personal finance industry witness such a significant transformation over the years? Besides adapting to the evolving needs and preferences of investors, it saw rapid advancement of technology, the rise of fintech companies, and the increasing accessibility of information. This shift has empowered individuals with greater control over their financial decisions, offering a plethora of tools for budgeting, investing, and managing money.

Moreover, the concept of financial literacy has gained prominence, urging people to take charge of their economic well-being. As a result, the personal finance industry has witnessed a revolution, placing a stronger emphasis on convenience, transparency, and user-centric solutions to cater to the demands of today's investors.

Increasing crypto investments over the years
Between 2018 and 2020, the worldwide user base of crypto experienced a substantial growth of almost 190%, and this growth trend accelerated even further in 2021.

Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.

Over the past few years, there has been a remarkable surge in the number of crypto investors worldwide. Crypto, led by Bitcoin and followed by a vast array of altcoins, has garnered immense attention and