Coincub has published its Global Web3 Index for 2024, detailing the top Web3 countries around the world.
Switzerland tops the listing, followed by Singapore and UAE.
Ireland is ranked 59th in the index, significantly behind the likes of Poland (29th), Hungary (38th), and Italy (47th).
The report lists significant developments and outlook points, such as “2023/2024: The period is marked by several groundbreaking developments that have significantly influenced the broader market landscape.”
It lists these as:
“Regulatory Clarity and Expansion: We have witnessed significant regulatory advancements in critical markets, notably with the launch of Bitcoin and Ethereum ETFs in the US and the anticipated implementation of the MiCA regulation in Europe.”
“Technological Innovations: The development of more scalable DeFi platforms that enhance transaction speeds and reduce costs, and the integration of AI to improve smart contract algorithms for better security and efficiency. Also, we have seen the rise of multi-chain NFT platforms that allow for cross-chain interoperability, broadening the usability and marketability of digital collectibles across different blockchain networks.”
“The Convergence of TradFi, Crypto, and Fintech: We witnessed the beginning of a significant blend between traditional financial institutions (TradFi), cryptocurrency service providers, and fintech companies. This year marked a shift in the crypto banking services and the expansive growth of offerings by crypto exchanges. These developments enable a more integrated and versatile financial ecosystem.”
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