Global adoption: Smart cities, smart contracts, peer to peer transactions....transparency-this is the future.

Map Courtesy of https://blogs.thomsonreuters.com

Nation by nation block-chain technology is being adopted at expeditious speeds. In 2018 alone, Japan, Germany, Canada and Venezuela have legalized crypto with the latter even creating its own coin, the Petro . Prior to this year countries such as Australia and Holland had already taken the plunge accepting digital currencies ahead of the bull run that took the market by storm in 2017. 

While global adoption has been on the rise some nations have been more conservative with Bangladesh declaring in 2014, “anybody caught using the virtual currency could be jailed under the country’s strict anti-money-laundering laws" and China and South Korea taking similar stances. Other countries such as Belgium, Greece, Croatia and Lithuania have simply taken a “wait and see” approach issuing no official opinion on cryptocurrencies as they monitor the response of surrounding governments. 

In the U.S Federal recognition of cryptocurrencies viability has been slow with lawmakers struggling to find a balance as they define regulations. State legislatures on the other hand have begun to take notice of the benefits legalization of cryptocurrencies could afford them. In January this year a bill recognizing cryptocurrencies as an acceptable form of payment for taxes and other state fees passed the Senate in Arizona and now waits for review by the House. Once passed Arizona will be the first state government to accept cryptocurrency, Georgia and Vermont contend for second place introducing similar legislature recently. In New York State a bill has been introduced not looking at the monetary benefits of block-chain technology but rather for the purpose of record keeping and in Tennessee they look to adopt the utilization of smart contracts. 

While there may be a lot of FUD circulating these days it is clear that global adoption is on the rise, you simply can’t deny the benefits of a fully transparent, peer to peer money transacting system. This is what we want, it’s what we need, cryptocurrency is the answer to a new beginning without financial corruption. 

Are you an early adopter or new to the space? Either way we’re glad you’re here! What benefits do you see with a global adoption of block-chain technology? Any thoughts on what states or nations will be the next to step up and join the revolution? Let us know what you think and thanks for your upvote!

°Br¡tT^N¥° (@TheJadeCrow on Twitter)