The State of Lebanon is showing more interest in cryptocurrencies supported by artificial intelligence
Lebanese investors have shown a growing interest in cryptocurrencies powered by artificial intelligence (AI), as the popularity of platforms such as OpenAI’s ChatGPT has renewed enthusiasm for the technology, according to recent research.
Examining the popularity of related searches of 14 English-language terms related to AI-powered cryptocurrencies, CoinGecko’s recent study places Lebanon first, followed by Slovenia and the United Arab Emirates. The report indicated the following:
“The 21.6% interest in AI-powered cryptocurrencies indicates that the Lebanese cryptocurrency community is paying close attention to current trends, such as the sudden rise in prices of AI-assisted cryptocurrencies.”
The research added that the high interest in the aforementioned searches comes at a time when the country’s central bank devalued its currency by 90% on February 1 due to the economic crisis the country is going through.
AI-powered cryptocurrencies are defined as cryptocurrencies that use artificial intelligence to improve security, user experience, and scalability, among other properties, and can also be digital currencies created to support AI-based projects, such as decentralized markets or exchanges.
In addition to Lebanon, the list of the 20 most interested countries in AI-powered cryptocurrencies included countries facing major economic crises, such as Nigeria, which ranked fifth, Sri Lanka ranked eighth, and Pakistan ranked seventeenth.
“Similar to the Lebanese, the findings indicate that AI-powered cryptocurrencies have attracted the attention of Nigerians, Sri Lankans and Pakistanis, who are exploring investment opportunities that could help ease their financial burdens,” the report noted. The important role of cryptocurrency in economies in crisis.”
The list also included many global cryptocurrency centers, such as Australia, which ranked (4), Singapore (9), Switzerland (11), and the United Kingdom (16), but not all countries ranked. An accepting approach to virtual assets ranks high on the list of 20 countries, with the United States ranked 33rd.
Ownership of cryptocurrencies has also been increasing in Lebanon, with 2.4% of its total population now owning cryptocurrencies, meaning around 185,704 residents own cryptocurrencies, according to data from cryptocurrency firm TripleA.
Related Articles: Report: Over 1 Million People in Morocco Own Cryptocurrency Despite Ban
Morocco leads other MENA countries in cryptocurrency ownership, with 4.9% of its population owning cryptocurrencies, followed by Egypt with 3% of its population.
The governor of the Central Bank of Morocco had previously stated that the process of regulating cryptocurrencies in the country is in its final stages, which will protect local investors from the risks associated with the asset.
On the other hand, Egypt remains cautious about cryptocurrencies and prefers to explore actual uses of CBDCs.