Cryptos have robust potential in key Balkan markets

Significance

Although a substantial number of crypto miners and traders view digital tokens as schemes to get rich quickly, there is growing interest in building on the underlying blockchain technology and in the potential of cryptos to make financial systems more accessible, cheaper and more transparent.

Impacts

• Crypto mining will have a negative impact on the energy-poor Balkans region.
• Traditional banks and money transfer platforms will resist losing parts of the lucrative remittance market to crypto firms.
• Forthcoming EU regulations on cryptocurrencies will give direction to policymaking across the Balkans.