We hear in the news of how China wants to have little or next to nothing to do with blockchain technology and cryptocurrencies. While it is true that being only a decade old, blockchain has yet to convince the entire world of it’s advantages.
Partly because it is so misunderstood. Also contrary to popular belief regulation doesn’t necessarily mean that a nation is wary of cryptos, but rather it wants to explore it’s possibilities.However, there’s always a bright side to everything and there exist nations in our universe that embraced the blockverse with open arms and open minds.
Countries like China and India might be a bit slow on the whole crypto adoption idea for now, but with more and more major multinationals and key players venturing out forth, the two nations might benefit from the examples we are about to observe next.
As we discussed earlier, Sweden tops our list in being the most progressive in terms of crypto based regulations as we haven’t seen a better example of a collective conscience when it comes to embracing and adopting cryptos. Sweden isn’t just adopting blockchain technology, it is pioneering to become the first cashless society of the world! And that is an admirable feat. From government policies to the country’s six major banks teaming up for a unified goal of a digital nation, Sweden has it covered.
Malta is known as the “Blockchain Island” for a reason and that reason is it’s impressive legislation when it comes to blockchain and other technologies. The three bills regarding DLT (distributed ledger technology) and Blockchain, Crypto and Service Providers it issued in 2018 are a testament to that dedication.
Referring to Malta’s positive crypto regulatory climate, CEO of Binance Changpeng Zhao has said in the past that, “Malta has become a global hub for blockchain technology through active and transparent crypto regulations.”
Vanuatu is a small yet formidable South Pacific Ocean nation that has left many a progressive countries behind in terms of beneficial crypto regulations. What it lacks in traditional investment opportunities, Vanuatu makes up for with it’s unique idea of granting citizenships via investments in cryptocurrency. This has been made possible by partnering up with firms such as Aditus which states it is “the world’s first luxury access platform for crypto-affluents.”
While, the Vanuatu investment citizenship has it’s constraints such as only accepting Bitcoin for the time being, it has a decided edge over many others when it identified a serious gap in the market.