Source: Cointelegraph Original: "{title}"
Views from: Dominic Schwenter, COO of Lisk
The United States is in the midst of a crypto boom. The approval of ETFs has opened the door for institutional adoption, liquidity is continuously increasing, and under a government more favorable to cryptocurrencies, regulatory clarity is beginning to emerge. The number of documents mentioning blockchain by the U.S. Securities and Exchange Commission (SEC) reached a historic high in February 2025, marking a significant shift in the government's attitude towards this technology.
This momentum is a positive development for the entire industry. U.S.-based crypto companies have been navigating regulatory uncertainty for nearly a decade and are finally beginning to see attention and returns. Have they finally received institutional support? Indeed, it has come late, but it is well-deserved.
However, an excessive focus on the U.S. could cause the entire industry to overlook dynamics in other regions. Some of the most important cryptocurrency adoption phenomena today are taking root far from the spotlight.
The most exciting crypto applications are not happening on Wall Street. They are quietly unfolding in high-growth markets—places where people use cryptocurrencies not for speculation, but out of necessity for survival. These communities have not waited for media coverage; they have consistently built through every cycle and have now become the pace-setters for Web3 development.
High-growth markets are leading crypto adoption
In the top twenty of Chainalysis's "2024 Global Cryptocurrency Adoption Index," fifteen countries are from high-growth regions such as Indonesia, Vietnam, the Philippines, and Nigeria. These areas are not just hotspots for speculation; in many countries, cryptocurrencies have become a part of daily life. Unlike markets that have experienced booms and busts, adoption in these countries has never wavered, rooted in practical value.
In these economies, cryptocurrencies help families with remittances, provide a safer store of value in the face of local currency instability, and enable small businesses to circulate funds more efficiently. In Western countries, cryptocurrencies still carry the aura of high-risk investments; in high-growth markets, they have already integrated into daily life. This is true "adoption."
Builders are migrating to high-growth markets
As stable and pragmatic use cases continue to increase, the activity of builders is also on the rise. Currently, the global developer map is changing rapidly.
According to the "2024 Electric Capital Developer Report," Asia now accounts for 32% of the world's active crypto developers, up from just 12% in 2015. Meanwhile, the share of developers in the U.S. has significantly dropped from 38% to 19%. The blockchain talent pool is not shrinking—it is migrating to more vibrant regions.
Additionally, 41% of new crypto developers now come from Asia, indicating that the pipeline of builders is rapidly expanding outside traditional tech hubs. These individuals are not just enthusiasts; they are the next wave of founders, architects, and engineers choosing to build solutions closer to where the problems arise.
This shift is not limited to Central Asia. Developer activity in Africa, South America, and Southeast Asia is also steadily increasing, while the relative shares in North America and Europe continue to decline. The message is very clear: Web3 innovation is no longer dominated by any specific geographic location. It is being driven by builders who are closer to real-world needs—and they are designing for those needs.
Blockchain is solving real problems
In high-growth markets, the surge in developer activity and crypto adoption is not happening in isolation; it is closely related to real-world impacts.
A clear example is PepsiCo South Africa's use of blockchain for supply chain tracking in the informal trade sector. In a region where traditional infrastructure is fragmented or even absent, this application is doing what blockchain is meant to do: solving problems.
Through blockchain-driven end-to-end digital payment solutions like Lov.cash, PepsiCo has enabled cashless payments, allowing small retailers and wholesalers without bank accounts to transact smoothly. This system also provides wholesalers with clear insights into which products are selling and where they are popular—helping them plan smarter and reduce waste. There is no token speculation here, no flashy NFTs, just a real supply chain problem being effectively solved.
Stories like this rarely make headlines, but they are where blockchain truly adds value. In places where infrastructure is lacking, blockchain is no longer an experiment; it is an alternative path to solving problems. If the industry continues to chase hype while ignoring this impact, it will miss the best opportunities to make a profound difference.
A call to Web3 builders
What is happening in the U.S. is worth celebrating—but that is not the whole story. The real-world adoption, the drive of builders, and practical use cases are rapidly advancing in high-growth markets, where crypto technology is already changing lives. The long-term impact of Web3 will be shaped by these regions. Builders and investors should no longer wait for validation from Washington or Wall Street, but should focus on where this technology is already making a difference in reality.
The development of cryptocurrencies has not waited for U.S. participation. If our goal is to truly build a global system, it is time to follow those who are already using it to solve problems.
Views from: Dominic Schwenter, COO of Lisk
Related: SkyBridge founder warns that crypto voters may cost Harris the U.S. presidential election
This article is for general informational purposes only and is not legal or investment advice. The views, thoughts, and opinions expressed in this article are solely those of the author and do not necessarily reflect or represent the views or positions of Cointelegraph.
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