A Bullish Job Market In The US May Inspire More Crypto Adoption, NFT Expert Says

A Bullish Job Market In The US May Inspire More Crypto Adoption, NFT Expert Says

Anndy Lian, the author of “NFT: From Zero to Hero,” considers last week’s jobs data report — which showed a remarkable increase in non-farm payrolls and a marginal uptick in the unemployment rate — to be a potential catalyst for cryptocurrency adoption.

“Positive job data may influence governments to adopt a more favorable stance towards cryptocurrencies,” Lian told Benzinga.

The crypto industry presents an irresistible opportunity for economic development and innovation, he added.

See Also: U.S. CFTC Asks For Public Input On Digital Asset Risk Management – ‘The Commission Needs To Revisit Our Regulatory Oversight’

Lian also lauded Hong Kong for its proactive approach to fostering the growth of the web3, blockchain, and crypto industry.

StandardDAO‘s Aaron Rafferty, however, says the positive jobs report does not necessarily signify a considerable shift in the economic crisis currently impacting global markets.

Investment in blockchain companies has declined significantly as capital firms shift focus to artificial intelligence (AI) technologies.

“Given that crypto assets and the blockchain sector, in general, has been trending sideways over the past year, there is nothing in this report that would indicate a significant change to that trajectory,” Rafferty said.

Liberty Blockchain COO Christopher Alexander explained that while Bitcoin (CRYPTO: BTC) follows the trends of traditional markets, which have responded positively to the jobs report, ongoing fears of a looming recession could deter many large investors, curtail liquidity and hamper growth.

Raj Kapoor, the founder of the Blockchain Governance Council, drew attention to the ongoing regulatory debates surrounding cryptocurrency as a substantial obstacle to crypto startups’ ability to capitalize on positive economic signals.

See also  Do Crypto Airdrops Benefit the Community in the Long Term?

Kapoor blamed the Federal Reserve’s aggressive monetary policy, which aims to rein in inflation by raising interest rates, as an additional near-term issue for crypto given the existing macroeconomic environment.

 

Source: https://uk.investing.com/news/cryptocurrency-news/a-bullish-job-market-in-the-us-may-inspire-more-crypto-adoption-nft-expert-says-3042452

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

Leave a Comment