The blockchain is the latest revolution in the digital market. It has spurred the new era of transformation. This has brought many nations working aggressively towards integrating this technology with mainstream business operations. Although the entire world is well-aware about Blockchain and its positive side, only a few nations have shown a positive inclination towards accepting this technology and making it a part of their business operations. We also know that Blockchain finds usage in supply chain management, data security, transparency and much more. Whether it is politics or retail or health care, Blockchain finds usage in almost all the business niches. In this blog, we unveil ten nations of the world which have embraced Blockchain technology with open arms.
- Malta – Whenever we talk about Blockchain then this is the first nation to accept Blockchain positively. It will soon become the island of Blockchain. Binance which is the biggest cryptocurrency exchange of the world inaugurated its office here and is also planning to start its crypto bank in Malta. The nation is working aggressively towards promoting Blockchain technology. It has formed new regulations that are creating a favorable ecosystem of growth for companies planning to venture into Blockchain.
- China – If we are talking about cryptocurrency and Blockchain, we cannot miss China. The nation although announced a ban on cryptocurrency and crypt mining, but that hasn’t deterred it from venturing into Blockchain based service development. From its legal system to education, China has taken some remarkable moves to promote Blockchain based technologies. The country actively favors its own smart contract platforms like VeChain, NEO, Qtum, and TRON.
- Switzerland – The nation has created Zug which is a crypto valley. The part of the nation only focusses on Blockchain technology. The nation has gone ahead to create a tax-free regulation for the investors who want to invest in Blockchain. In addition to this Blockchain friendly regulation have attracted the investors. The nation has also promoted Blockhain projects like DFINITY, Xapo, and Ethereym.
- Japan – Japan is one of the friendliest nations which has regularized cryptocurrency Bitcoin. In fact, five banks of Japan have come together to create a platform that allows electronic exchange of money. The nation has also legalized Bitcoin. In fact, in the year, 2018, Japan was second or third with the purview of Blockchain.
- The United States – The world superpower USA is nowhere lagging when it comes to adopting Blockchain technology. From establishing research institutes to Bitcoin ATMs, USA has made every attempt to promote and implement this technology and make it a part of their mainstream functioning. States like Montana and Texas are considered to be the friendliest ones when it comes to Blockchain startups.
- Singapore – The country is home to startups in Blockchain. In fact, it has neck-to-neck competition with Japan and China when it comes to Blockchain applications and service development. The nation has created rules and regulations that would favor Blockchain and its development and is thus one of the most sought after locations when it comes to Blockchain startups.
- Belarus – It is only recently, that the nation made some remarkable changes in the field of Blockchain. It came up with regulation that would affect the Blockchain and crypto industry. It all started in the year 2017, and now Belarus is one of the most Blcokahin friendly nations.
- The Cayman Islands – The Cayman Islands have garnered the attention of the world because of its excellent financial service, and now also it is creating a similar impact in the field of blockchain and bitcoin. The country has embraced ICOs. Presently Cayman Island imposes 7.5% stamp duty on crypto transactions.
- Estonia – This developing nation is leaving no stone unturned to explore different avenues of Blockchain technology. The country has created many acts and regulations that would allow the Blockchain stalwarts to turn to Estonia to make the investment and start venturing into Blockchain. They have also come up with e-residency which attracts the Blockchain start-ups.
- United Arab Emirates (UAE) – When it comes to Blockchain adoption, the UAE is the friendliest nations. They have started using their own cryptocurrencies since 2016 and is now becoming a global hub for cryptocurrencies. The nation is also planning to become the first country in the world to have government powered by Blockchain. It is because of this reason that many startups and investors are eyeing UAE as a favorable ecosystem to startup their Blockchain venture.
Blockchain market is highly dynamic, and so is the developments around it. Many countries are now favoring the use Blockchain technology, apart from these nations, countries like the UK, Israel, South Africa, and Mauritius are also embracing this technology and making a considerable difference on the global platform.