The Best Nations to Start Blockchain Projects
By TLB Contributing Writer: Andrew
Digital currencies are changing the global financial landscape especially when it comes to the storage and distribution of value. Investors, financial institutions, and governments are responding to this change in different ways. For example, the Chinese government is clamping down on ICOs while South Korea created a specific department to regulate cryptocurrency transactions within the country.
A prudent investor would examine cryptocurrency news in these countries and others to determine the one that is friendly to investors. Here are the best nations to start blockchain projects.
Switzerland is a leading financial hub in Europe. It is paving the way for blockchain technologies as well. In fact, many people refer to Zug, a small town in Switzerland, as Crypto Valley. This town seeks to make itself a center of cryptocurrency development as Silicon Valley is for advancements in software technology.
For example, it recently held the inaugural Crypto Valley Conference in the last week of June. This conference brought together the best minds in the industry from every region of the globe. Invest in an area that gives you access to such networks. Investing in it also gives you access to potential funding from industry players who live or work in the area.
Switzerland has a nationwide appeal as well meaning that you can invest in other areas in the country other than Zug. For example, do you know that Swiss companies earning less than $1 million can obtain licenses for crowd-funding donations and deposits? That means starting your blockchain project in Switzerland would be easy because it has systems in place to give you access to ready capital.
This small island nation has some of the most business-friendly policies worldwide. For example, it had $203.57 billion in Foreign Direct Investment (FDI) in 2017. Investment in blockchain technology is also picking up steam in Malta. For example, Binance opened an office in Malta to escape regulator pressure in Japan. Binance is an international multi-language cryptocurrency exchange that raised $15 million for its ICO in July 2017.
The country’s legislative framework is improving by the day. For instance, it recently introduced three bills to govern the cryptocurrency industry in Malta. They are the Virtual Currencies Act, the Innovative Technology Arrangements & Services Act, and the Malta Digital Innovation Authority. These bills have resulted in investor confidence in the country especially when it comes to blockchain technologies and ICOs.
Other exchanges besides Binance have headed to Malta as well according to cryptocurrency news. They include OKEx from Hong Kong and BitBay from Poland. It is likely that Malta will be the premier destination for cryptocurrency projects in the future.
The United States
The US has a history of being receptive to new developments including blockchain technologies. In fact, 16% of all the ICOs worldwide originated from the US within the last eighteen months. However, the Securities and Exchange Commission (SEC) is still evaluating these digital currencies to determine their viability. The SEC’s primary concern is how to ease regulations on blockchain projects while guaranteeing that investors do not lose their funds.
These countries are ideal for starting blockchain projects because they have legislative frameworks that encourage investment in cryptocurrencies. They also have governments that are supportive of digital currencies. Other nations that are worthy of mention as ideal investment destinations for cryptocurrencies are the United Kingdom, Estonia, Liechtenstein, and Bermuda.
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