The digital currency space has seen rapid growth and expansion in 2019, with heightened interest from governments and global corporations. Cryptos recovered from the 2018 bear market, when with Bitcoin (BTC) crashed to as low as $3,800, leaving numerous experts to paint a gloomy picture of a longstanding bear market and call the downturn in the first half of 2019 the longest and harshest in the crypto history. While cryptocurrency markets were struggling to recover, corporate and central bank digital currencies have quietly become a focus of attention.
The blockchain sector has seen exponential growth in 2019, as it became recognized by governments and institutions around the world as a transformative technology. This year, blockchain adoption reached new highs as it continued to find new use cases. News broke with an array of exciting blockchain-related developments, with the United Nations-led International Organization for Migration launching a blockchain tool to prevent the exploitation of migrant workers, and Chinese President Xi Jinping giving a seminal public endorsement of blockchain technology.