dailingUP : Friendly Crypto Governments

Friendly Crypto Governments

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Blockchain is here to stay. Crypto makes much more than just good sense. Taken together, the world bears witness to a provably fair, and financially equitable, transformation in its resource distribution.

TYPES OF BLOCKCHAIN IMPLEMENTATIONS

Household name, blue chip corporations are not just experimenting with their own versions of blockchain technology. Some have already begun offering it as a service. Apparently, the corporate world has slotted in blockchain as part of its business practices for managing large database servers. Blockchain is more than this, but such limited application seems fine for these large corporations and their present needs.

POTENTIAL MAGNITUDE OF ECONOMIC CHANGE WITH CRYPTO

Crypto is more than a smarter financial option. It's empowerment for leveraging the digital resources that impacts one’s life. What should be clear to even novice crypto users is the importance of mitigating issues during the transition to a new digital economy.

As important as it is for the corporate world to not tread upon independent crypto users, regulatory mechanisms are an even more dire concern.

AN OVERVIEW OF REGULATORY INFLUENCES

Below are a couple of regulatory lists, first of nations, then of U.S. states, that are considered crypto-friendly. It’s important to keep in mind that regulators may behave differently between different nations and across regions. Also playing a factor are the different types of cryptocurrencies that are avialable to a region.

Nations Friendly to the Crypto Industry

Changelly.com, CryptoAdventure.org, BTCNN.com, and EarthWorld.com all agree that the two countries listed below are among the most crypto-friendly:

Malta
Switzerland

Top Crypto-Friendly Nations Listed by Changelly.com (April 28, 2020):

Switzerland
Japan
Slovenia
Malta
Singapore
The Netherlands
Czech Republic

Top Crypto-Friendly Nations Listed by CryptoAdventure.org (June 22, 2020)

Malta
Switzerland
Singapore
Japan
United States

Top Crypto-Friendly Nations Listed by BTCNN.com (March ,2019):

Malta
Bermuda
Switzerland
Gibraltar
Slovenia
Singapore
Estonia
Georgia
Belarus
Hong Kong
Japan
Germany

Top Crypto-Friendly Nations Listed by EarthWorld.com (May 27, 2020):

Malta
Bermuda
Switzerland
Slovenia
Germany

Politics, regulations, markets, private projects, and public sentiment are among the variables that can affect how welcoming a nation is to crypto. That’s before factoring into account the many different types of cryptocurrencies, their reputations, proof mechanisms, as well as things like transaction privacy and transparency. For these reasons and more, the dates of the articles were included.

Just take BTCNN’s listing of Hong Kong. This is an example of how even an entire national economy can quickly change. Hong Kong’s “two systems, one country” has been battling to maintain a friendly economic environment. This past year, like every other nation, it has had to contend with COVID-19. All while fighting for its independence that it justly maintains as a legal promise and a basic right of humanity.

NOTE [author bias] : From what I’ve read, my favorite crypto-friendly nation is Malta.

U.S. States Friendly to the Crypto Industry

Blockchain-Council.org recognized the following five states as welcoming to crypto:

Wyoming
Texas
Ohio
Colorado
California 

Below are the U.S. states that CryptTalker.com consider best for Bitcoin:

Ohio
Wyoming
New Hampshire
Texas
Tennessee
Washington, D.C.

CryptTalker.com also identified the four states below as best for BTC mining:

Louisiana
Idaho
Arkansas
Washington

Wyoming is no surprise. The state is much more than crypto-friendly. Some might say that it’s in the works of tying the future of its local economy to blockchain, as well as crypto.

BLOCKCHAIN VS. CRYPTO ADOPTION

It’s important to distinguish between blockchain vs. crypto adoption. Large corporations have dedicated resources to what they term their own blockchain projects. Many of these are for private networks and/or internal operations.

Cryptocurrency adoption is another thing entirely. While blockchains are ledgers and cryptocurrencies need them, crypto must be exchangeable among peers. This essentially makes cryptocurrencies an open system. The question that remains:

Can a viable cryptocurrency alternative exist on a closed blockchain system?

* A link to my original publication on Voice. *

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