At the Bitcoin Builders Conference, Daniel Fogg from IOV Labs and Rootstock spoke with Cointelegraph about how emerging markets are shaping the future of the crypto space. Here are the most important takeaways from their conversation:
1. Emerging markets are driving adoption: Fogg noted that emerging markets, such as Latin America, are leading the way in terms of crypto adoption. This is due to a variety of factors, including high levels of inflation and limited access to traditional financial services. As a result, people in these markets are turning to crypto as a way to store value and participate in the global economy.
2. Smart contracts are key: Fogg also highlighted the importance of smart contracts in the emerging market context. He noted that smart contracts can help to facilitate transactions and enforce agreements in a way that is transparent and secure. This is particularly important in markets where trust is low and traditional legal systems may be weak or corrupt.
3. Collaboration is essential: Finally, Fogg emphasized the need for collaboration between different players in the crypto space. He noted that partnerships between companies like IOV Labs and Rootstock can help to drive innovation and create new opportunities for users.
Overall, Fogg’s insights highlight the important role that emerging markets are playing in shaping the future of the crypto space. As adoption continues to grow in these markets, we can expect to see new use cases and innovations emerge that could have a significant impact on the broader industry.