Top 10 Most Crypto-Friendly Countries

Top 10 Most Crypto-Friendly Countries

Despite China’s ban on ICOs and its temporary halts on all cryptocurrency exchanges, many other countries are quickly taking advantage of the cryptocurrency potential.

While this list contains some of the usual tech-friendly countries like the United States and Russia, many new contenders have made the list to prove that they will be on the forefront of blockchain technology as well.

Estonia has been making strides to encourage blockchain technology to interweave with its economy and citizens. After becoming the first country in the world to establish e-residency, Estonia announced that it would become a leading country in blockchain innovation.

Digital identity and healthcare services have received a massive security boost through blockchain’s immutable ledger, which has led to a massive amount of healthcare-related blockchain ICOs.

The eHealth foundation of Estonia has become the first governmental practice to actually incorporate blockchain into their healthcare system. Currently, all medical records are being recorded and digitized into the blockchain developed by Estonia’s blockchain team.

Russia’s biggest lenders, including Sberbank and VTB Group, have created a new blockchain ledger called Masterchain, which will be used to help process transactions much faster through the central bank.

This isn’t the first news of blockchain and cryptocurrencies being used throughout Russia’s economy; Putin has been a long-time fan of Ethereum and the possibilities that arise in its blockchain.

“The digital economy isn’t a separate industry; it’s essentially the foundation for creating brand new business models,” Putin once told interviewers at an event. There is even a Russian airline that is using a blockchain ledger built off Ethereum that will record all of its ticket bookings.

Zug, Switzerland has become known as “Crypto Valley” after many major blockchain organizations have made headquarters in the area. Tezos, Ethereum, Shapeshift and many others have established themselves in Switzerland due to Switzerland’s openness and support for blockchain.

Switzerland has looser regulation laws for blockchain startups and is even implementing digital identities for Zug residents on the Ethereum blockchain. Six Securities is another major Swiss company that has been researching blockchain and how it can affect major businesses and government in a global perspective.