Undeveloped and emerging economies that are experiencing rapid economic growth are more likely to adopt cryptocurrency.
One obstacle to wider adoption of cryptocurrencies in these countries is the high gas fees required by networks to conduct transactions. This is due to the difficulty of blockchain interoperability, which is one of the main problems of this technology.
Recently, however, new altcoins have appeared that try to solve this problem and thereby gain a competitive advantage in the market. For example, Calyx Token (CLX), a liquidity protocol that is currently in pre-sale, has gained popularity in the crypto space because of its goals of immediate token exchange with minimal gas fees. It plans to achieve this by leveraging liquidity from multiple liquidity protocols (using multiple blockchains instead of just one).
Improving the supply chain
Retailers are finding that pre-pandemic supply chain problems persist despite changing customer behavior.
As the world learns to adapt to the post-recession economy, incorporating blockchain technology into the supply chain process can help businesses meet customer demands for speed, convenience and social responsibility, improve operational efficiency and optimize inventory.
Retailers are using blockchain technology to create new solutions that appeal to customers while enhancing their brand’s reputation for quality and reliability. Part of this will be accomplished with the help of retail supply chain partners.
Traceability, fast payment and financial management can all benefit from the use of cryptocurrency. Obviously, implementing a new system will take time and require a significant investment of both time and money, but the payoff is expected to be significant.