Crypto Heaven:
As this is 2018, and cryptocurrency is getting more popular, governments are starting to get more hostile. Which makes sense as decentralization of cryptocurrency challenges the values, and the practices that have dominated centuries of wealth. Centuries of control that the government has been able to moderate, and the banks have been able to create a vast net worth of money. Bringing us to today, where many places think of cryptocurrency as the hell, and bitcoin as the devil. Where now, we the crypto-lovers, are starting to feel the push back from the power on the other side of the table. Below I have listed a number of countries in place of how friendly they are to cryptocurrency. 1 being the least friendly, and 10 being the most friendly.
Hostile crypto countries:
China (rank 1) - As China has become one of the biggest haters of crypto, they have worked their hardest to ban cryptocurrency from anybody in their country. Also, discouraging many of the exchanges to stop as well. China really was the biggest market for cryptocurrency, so it is well-noted that their centralized way of governing is absolutely opposite from crypto.
South Korea (rank 4) - South Korea is a country that has been very back and forth on crypto. Given a spot as another one of the biggest countries in the market, they have had some struggles in deciding what to do with it. For example, back in January, South Korea put out a statement saying that they are looking into banning crypto. Since then, with the massive push back from their country, they have seemed to stand down a little, but are pushing much regulation of crypto.
India (rank 3.5) - The opposition of cryptocurrency in India has only really become apparent more recently. Similar to South Korea, they are in a position where they do not want to upset the people of India (as India also has a huge growing crypto marketplace), but they do not want total decentralization. Right now, they are really just going within a thin line, and haven't made a directional move quite yet.
Semi-hostile countries:
United States (rank 7) - The recent government meetings about crypto have led me to believe that the U.S. isn't as anti as I thought they were. However, they are really interested in imposing strict rules on cryptocurrency (like strict taxes), and even stricter rules for ICO's. With the most recent discussion with the SEC, one of the head people was talking about respecting the interests of the younger generation. Thus, letting us know that they will not be at all like China.
Japan (rank 7.5) - Japan has an army of crypto followers, with much implementation of it already in their daily lives. Not to mention, they pretty much invented cryptocurrency through bitcoin. As the supposed bitcoin creator (Satoshi Nakamoto) is from Japan. The only problem with them, was the coincheck hack (hack of 500 million dollars) left them a little skeptical. That is being solved right now, so with just some further regulation of crypto, I can see Japan in a positive light.
Supportive crypto countries:
Switzerland (rank 9) - The nickname of Switzerland says it all, "Crypto Valley" (in reference to Silicon Valley). Generally, this has been a pretty regulation free place for crypto, they have imposed a little regulation of ICO's as securities for a little while.
Russia (rank 8) - With crazy things like Russia creating their own cryptocurrency, there is no doubt that they are one of the biggest supporters. They have spoken many times for their love of cryptocurrency, and haven't imposed much regulation yet. This is a little surprising to me as Russia doesn't seem like the place that would be to keen on decentralization rather than centralization.
Why Switzerland the best for crypto?:
Alright, so what are the biggest benefits of cryptocurrency in Switzerland. As I said before, it has been dubbed as crypto valley for its friendliness to ICO's. With in general as they can be scams, they have much regulation in other countries. This falls along the lines of how the banking industry in Switzerland has performed for years. Pretty much in secrecy, and privacy, not often complying to what the United Sates wants to see. Not to mention the laws in Switzerland have little to no tax on anything, so the benefits are so much greater there. In my mind, they have just created this incredible safe for the future of crypto and money, so they can stay as one of the worlds more peaceful places. Not favoring any other place, or anybody, just being them. Furthermore, thank you for reading my post today Steemians, and see you in the next post!
🔴Thank you for reading my post! I hope you guys enjoyed, and I'll see you in the next post! Feel free to ask questions or comment/upvote! 🔴
- Crypto DJ
This is an interesting post . I dont know why china is against cryptos. Wanna know,.
Ya perhaps I'll do a further post on that, but I do know that the decentralized matter of crypto, is a threat to their government. So in my opinion, they are working hard to keep more power in their hands. Which is kind of annoying for us, but logically I can understand. Thanks for commenting man, I'll go follow you!
You're always wellcome. 😊
I like your work dear
You and analyst @salahuddin2004 are two top analysts of cryptoworld.
His prediction success rate 99%
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Liberal Countrys is nice for crypto! All about that freedom!
Ya for sure! I feel like in some of these scenarios, freedom is much harder to obtain..
Fantastic write up! It really is interesting to see the positions that other countries are taking. Russia is one that jumps out to me, as well. However, I think that they are very forward thinking. They aren't planning to let blockchain take over and decentralize everything.
Personally, I think they are simply smart enough to see the threat that blockchain poses to their power grab. They are going to do everything to centralize any mass adoption of blockchain - maintaining as much control as they can.
Other countries like South Korea thought that they could stop the train. They have already seen some of the backlash from this approach. Russia is just trying to mold it so that it works for them, IMO...something the US is likely to do, as well.
Ya great point! Russia is trying to make crypto their own way, so they get more influence. Man it would be heaven though if like all the countries and banks were just happy with crypto.🤣 P.S. thanks for reading my post, I'll go check your blog out!
Crypto is the creation of new wealth and that tends to equal power, as well. If countries take the Swiss approach, they could rise to power more quickly than ever thought before. Take a look at Estonia - they definitely deserve a spot on your list.
https://medium.com/e-residency-blog/welcome-to-the-blockchain-nation-5d9b46c06fd4
Recently, Verizon announced they'd be using Estonian-developed software...
"Verizon Enterprise Solutions plans, later this year, to launch a portfolio of services based on blockchain technology. It’s getting the blockchain software from Guardtime, a company that was founded in 2007 in Estonia"
https://www.sdxcentral.com/articles/news/verizon-use-ksi-blockchain-technology-developed-estonia/2018/02/
Wow I didn't even realize about Estonia, I might make a post about them as well! Ya the Swiss approach has many benefits in the markets, and the world table!
Great post! You just got a 16.67% upvote from @edensgarden!
Thanks for tasting the eden!
Thank you for tasting crypto dj. haha
You got a 14.29% upvote from @redlambo courtesy of @cryptodj99! Make sure to use tag #redlambo to be considered for the curation post!
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