Crytpo & Blockchain Adaptation Around the World

Blockchain Technology


Well, just as bitcoin is on the rise again, let’s take a look at how the world outside the U.S. views the regulation, acceptance and adaption of cryptocurrencies. Oh, and the ICO (initial coin offering) and STO (security token offering) markets as well. Yes, there is a LOT going on outside the SEC and CFTC “corrals” and the stodgy visions of the regulators here in the U.S. And, these are NOT tiny unheard of jurisdictions. Take a look at this and catch up to the real world.
Bill Taylor/Contributor


“While it is difficult for many people to separate cryptocurrencies and the blockchain in their minds, they are not synonymous. In fact, several of the world’s governments that have either highly regulated or completely banned cryptocurrency are actually vocal supporters of blockchain technology. They understand its immense potential to solve many important problems and are eagerly exploring its use cases and applications….

Dubai – The Emirate of Dubai, part of the United Arab Emirates, is a huge tourist destination…In order to handle all the documentation associated with its tourism industry, its leaders have stated that it hopes to become the very first blockchain-powered government, and they have set a target date of 2020 to reach that goal.

China – The country has tried its best to contain and even ban the buying, selling, and trading of cryptocurrencies but has moved forward rapidly and forcefully in its embrace of blockchain technology, even describing the economic value of blockchain as “ten times more than that of the internet.”

Gibraltar – A British territory also long claimed by Spain, Gibraltar is trying to be the global hub for blockchain-based fintech companies…

Switzerland – Another small European country that is investing heavily in blockchain technology, it is home to the blockchain giant Ethereum…

Estonia – In Eastern Europe, and the birthplace of Skype, it was one of the first countries to begin exploring DLT for government use, with efforts stretching back as far as 2008 (which predates the release of bitcoin), and it was in 2012 that it used the first blockchain solutions to support its government activities…

United Kingdom – A couple of years ago, the UK stepped into the fray to begin the planning to integrate blockchain technology into government, primarily to reduce errors, corruption, and fraud in its primarily paper-driven processes…

Singapore – The Asian city-state touts itself as a hub for innovative blockchain development, and the government recently allocated over $225m for integrating DLT into its government operations…

United States –  The first agency to award a contract for blockchain technology was the Department of Homeland Security. The dollar amount was meager—only $199,000—however, it signaled the beginning in a change in attitude towards DLT…”