BIG TECH COMPANIES CONTINUE TO ANNOUNCE CRYPTO INTEGRATION

We won't be surprised if one additional country will adopt BTC as their legal tender this year. Tonga is at the top of the list since the island nation announced that it will be making BTC legal tender sometime this year and begin mining BTC with volcanoes. The predications for this adoption are lack of financial infrastructure, reliance on remittance payment, and the use of foreign policy in which monetary policy can not be controlled by the US dollar. These reasons are essentially why El Salvador adopt BTC as their legal tender back in September last year. It is also why some Latin American countries are the most likely to follow suit.

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It is even why the Central African Republic adopted BTC as its legal tender in 2022. You should know that adopting BTC as a legal tender doesn't mean the country will ditch its national currency. It is more than likely they will continue to use their national currency alongside BTC assuming the is not a total collapse of the financial system. It is also possible that some countries will adopt cryptocurrency alongside the new central bank digital currency (CBDC). This seems very unlikely given that the two digital currencies are opposed but it is something that has been hinted at in various reports.

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If the crypto market begins to recover next year, it is quite likely we see another country adopt BTC as their legal tender this year. This is just because they will see who is been paying attention that another crypto circle is starting. It won't be surprising if big tech companies continue to announce crypto integration. Just like countries that could announce BTC, big tech giants are ultimately crypto because they are loose money and they are trying to find a way to plug the hole. Apple and Google were hiring for crypto-related positions over the last couple of years. We have yet to see many meaningful crypto developments from them or other big tech companies with similar job openings but those could all come sometime this year. Twitter is at the top of the list because owner Elon Musk has made it clear that intends to integrate crypto features on the platform.

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Right now, he seems to be in the process of balancing free speech and censorship in the face of government scrutiny but the crypto aspect could come this year. I think the adoption of crypto on Facebook and Instagram and others will almost certainly inspire most of the big tech companies to do the same. It is possible that big tech adoption could be related to the Metaverse. This is because nobody is a fan of the centralized Metaverse that big tech companies like Meta have created. They know that they are nothing more than a means of extracting more data that will be sold to advertisers and shared with governments that are obsessed with surveillance and censorship. This why I think Meta and others will eventually understand that the only way they can make money on this new technology is to integrate with decentralized alternatives that already exist. Big tech role will likely involve providing hardware and access points that enhance the user's experience.