The first generation of cryptocurrencies like Bitcoin, Litecoin and Ethereum, have been largely popularized in China.
But as the number of Chinese users of these new platforms continues to rise, it’s clear that the dream of creating the next cryptocurrency revolution is slowly spreading.
According to a new report from the Beijing-based consultancy research firm Gartner, China’s cryptocurrency users are increasingly embracing fractals, artificial intelligence and other new technologies.
The firm’s latest survey found that 74 percent of Chinese are interested in using new cryptocurrencies to make money and have plans to start using them.
“As the Chinese economy continues to slow down, Chinese citizens are starting to look at new cryptocurrencies as a way to diversify and expand their savings,” said Guo Zhongjian, Gartners chief Asia-Pacific economist.
“Chinese cryptocurrency users may see cryptocurrencies as the new norm.”
According to the report, China is now the world’s second-largest market for crypto-assets.
It’s estimated that the country has the world, and by some estimates the entire, fourth-largest, market for cryptocurrencies, behind the United States.
In recent months, there have been many Chinese investors and investors from abroad flocking to the country’s crypto markets.
In May, the country hosted the first-ever cryptocurrency conference in Beijing, which saw about 100 companies and investors attend.
Last year, Chinese crypto enthusiasts held a massive rally on the countrys biggest crypto exchange BTC China.
This year, more people are interested, said Zhang Gao, chief research officer at Garters.
“The Chinese cryptocurrency market is growing, and investors are becoming more active.”
Chinese investors are now starting to see a few cryptocurrencies that they can invest in, he added.
“These are all companies that have a strong reputation in the Chinese crypto community, such as Cryptsy and Bitfinex.”
Chinese cryptocurrency market growth in 2018Gartners expects China’s crypto market to reach $1.8 trillion by 2020.
The company believes this number will continue to rise over the next two years, and it expects it to grow even faster in 2021.
In addition to its growth, the firm believes the country will continue its economic expansion, especially with the growth of the manufacturing sector.
China’s growth is set to accelerate in 2021, according to Gartans projections, and its growth rate will continue growing, even if China slows down.