Where Will Bitcoin Flourish?
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Internationally there’s a race on to become the capital of the cryptocurrency world. Many cities and many countries all want to become a hotspot for the production of cryptocurrency and blockchain based products. So, we want to explore which country will be the first to actually claim the title of the Bitcoin capital of the world?
This is something we have touched upon in the past, a couple of months ago in one post, we discussed how important both Japan and the United States are in the current cryptocurrency climate, though this isn’t to say that either country will become a true hub for Bitcoin first:
Generally speaking, Asia (namely Japan) and the United States are seen as the true leaders when it comes to cryptocurrency and blockchain adoption. The US is often seen as the tech hub of the world, so it’s natural that tonnes of blockchain products come off American shores. In Japan, however, we have already seen very positive moves towards cryptocurrency adoption by governments and banks. Indeed, Japan has been involved in a number of cryptocurrency based disasters, but this is bound to happen when you’re one of the first countries to actually push for adoption right?
But, we can’t forget European countries either, can we?
Europe seems to be slightly behind in the trend, though we can’t forget how countries such as Malta and Switzerland are really pushing Bitcoins agenda. In the United Kingdom, even small areas such as Jersey are trying to race forward to gain the top spot, but generally speaking, a small UK island like Jersey probably won’t ever gain the momentum needed to take the top spot off Japan or the United States.
So, since it’s been a couple of months since we explore the issue, has anything changed? No, not really. The thing to understand here is that this race is a very slow one. It’s not a sprint, it’s not even a marathon, it’s a journey into another realm, a quest if you like. The take home message here is that patience is key, and we’re a long way off seeing true cryptocurrency adoption. The truth is, many countries have the capacity and the ability to truly become Bitcoin-centric places, but we won’t see this happen until the authorities that set the laws in these areas start to open their arms to crypto, sadly, we’re quite a long way off seeing this yet.