Fresh out of the studio, Kimberly Grauer, the director of research from Chainalysis provided an in-depth analysis of the Global Crypto Adoption Index 2023, highlighting Asia's burgeoning crypto and web3 activities. We discussed how Asia is currently leading the crypto activity from the Philippines to Pakistan, and highlighted what users are doing with their cryptocurrencies in their respective markets. We discuss the surprise in India's crypto and web3 activities despite strong anti-crypto regulation and how Asia's favourable regulation is bringing innovation from the US to the rest of the world. Last but not least, Kim described great would look like for the Global Crypto Adoption Index report in the next few years.
"The global adoption index is something that we put out once a year and it comes strictly within the research domain and it's our attempt to really elucidate just how much activity is happening around the world. Crypto is a global asset with activity in over 150 countries around the world, but people feel like it's a black box because they don't really understand who are these crypto users. Where are they? But in reality, we don't have answers to those questions because we don't have survey data around them. The government does not collect that data. So it feels like a black box, but it's kind of a created black box in its own right. And we're trying to show that that's not the case, that there's a lot of transparency here, and we can see where adoption is happening, and we can see which countries are the leaders in crypto adoption." - Kimberly Grauer
- Kim Grauer, Head of Research at Chainalysis (@KimberlyGrauer , Linkedin)
- To start, we start with your origin story, how did you start your career and end up just before Chainalysis?
- What are the lessons in your career journey that you can share with my audience?
Global Crypto Adoption Index 2023 and Asia's rising activity in crypto and web3
- Can you provide a comprehensive overview of Chainalysis and its global vision and mission?
- Can you talk about the products and services provided by Chainalysis?
- What is the aim of the Global Crypto Adoption Index?
- What are the data sources which you use to build the global crypto adoption index?
- What are the key takeaways from the Global Crypto Adoption Index?
- Mapping from the report, India + Southeast Asia + Australia + New Zealand made up 20% of the global crypto activity, what are the users within this geography doing that led to the increase in activity? How much of the activity is due to retail and institutional investors?
- What is the one thing you know about the blockchain activity in the Asia Pacific that very few people do?
- Looking at the report, centralized exchanges take up the majority of web traffic in India, Indonesia, Philippines, Thailand, Vietnam and Pakistan compared to the DEX, NFT exchange, P2P exchange and gaming. Are we seeing more trading activity in crypto vs. users doing actual transactions through the other applications?
- How did the Axie Infinity phenomenon influence crypto adoption in the Philippines?
- What are the future implications for crypto adoption in the Philippines after the decline of Axie Infinity?
- How do you envision the Philippines' position in the future of cryptocurrency in Asia?
- What are the primary drivers for crypto adoption in Pakistan, and how do they differ from the Philippines?
- How are challenging economic conditions in Pakistan influencing the turn towards cryptocurrency?
- Can you elaborate on the role of stablecoins in Pakistan's crypto landscape?
- How has India managed to emerge as a top cryptocurrency market despite regulatory challenges?
- What does great look like for the Global Crypto Adoption Index in a few years?
- References: 1/Is Central & Southern Asia the Future of Crypto? Here’s What Drives Crypto Usage in the Region Leading the Way in Grassroots Adoption. 2/ Eastern Asia: Do Recent Hong Kong Developments Signal More to Come for China and Region at Large?
- Any recommendations that have inspired your life?
- Kimberly's recommendations:
- How can my audience find you?
Podcast Information: The show is hosted and produced by Bernard Leong (@bernardleong, Linkedin) and Carol Yin (@CarolYujiaYin, LinkedIn). Proper credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited in both video and audio format by G.Thomas Craig (@gthomascraig, LinkedIn).