Bitcoin Forum

We should be cautious though because accepting the possible use of the blockchain technology does not automatically mean that bitcoin can also be given the same pass...but we are hoping that this is so. Bangladesh can be a good addition to many countries whose people are already enjoying the option of buying, using and trading bitcoin. With a growing economy and number of people, the potential for this country to contribute something for the industry can be a big and happy news.

The power of blockchain technology is appreciated by the indian governments too and indian governments also said in the past that they will adopt blockchain technology, but still India have unclear regulation on trading of crypto currency. Other than using blockchain technology for trading and investing only it can be used to ease the a lot of works in different different sectors. This kind of news are good for crypto currency community but we should not conclude that governments will soon legalize trading of BTC etc because later it hurts.

Adoption of blockchain technology doesn't mean that the government is gonna make bitcoin usage legal. In a recent survey Bangladesh is termed to be the fastest growing economy among small countries. Now they could've known about the potential of blockchain technology. This seems to be the reason for the legal support and adoption of the technology, same won't serve as a legal support for bitcoin usage.

As I see a lot of undeveloped countries try to accept blockchain technologies but not directly bitcoin payments. To my mind they do this because to get attention from developed countries that these undeveloped countries are developing and they are integrating this new services. And developed countries look them as tests and see how these services will get adopted and work on long term.
That's what I think, main part here is to get attention. That's what Georgia did for example, they offered bitfury to build one of the greatest bitcoin mining datacenter and accepted blockchain technologies too, main idea was to show georgia on technical map as a progressive and developing country.

To what extent are they planning to use the blockchain, I wonder? Perhaps there's more to this than just "using" the blockchain. Personally I don't see this as somewhat a full-pledged development for cryptocurrency in Bangladesh as nowadays, the blockchain and bitcoin with crypto are separate entities  ever since people realized the potential application of the former. Anyway though, the term 'blockchain' seemed to be loosely applied on a lot of things right now even though it's not apt to call it as such. Let's just hope that Bangladesh puts the tech into good use whatever their projects may be.

That is why she refers to blockchain and not Bitcoin. However the people sometimes brand, if the so called blockchain has done something they refer and link it to bitcoin and vice versa. This is the problem in the mentality of the people but we should understand them and educate them that blockchain is indeed a useful technology in many cases.

yes.  this is good news.  In my opinion.  good countries are countries that adopt the blockchain system.  when Bangladesh will adopt blockchain technology, the government of Bangladesh must provide high protection to every community that uses blockchain technology to transact.

By my information, Bangladesh is quite a poor country. I don't really think that it will be so helpful for Bangladesh. But anyway it's good news for the crypto community. I really wait for some big news from Europe countries.

I don't even understand the youtube link you that you have provided as it doesn't have any subtitle. Next time when you post on the english board make sure that it has an english words so we could understand. Else just post it in your local boards

Since I have not understood the video. I also am thinking the same thing. I only heard the word blockchain from the video (Correct me if I'm wrong), and haven't said about bitcoin. Therefore they really are planning to make services using blockchain which may not relate to crypto.

i don't think so.
Bangladesh is one of the handful of countries that has actually banned bitcoin with imprisonment sentence if you own it. so it doesn't have to have any scams involved for them to arrest anybody. and this is an actual ban not like the bullshit we keep reading online like China, India,... banned bitcoin.
which is why this topic is surprising to me, and i am going to remain skeptical since the source of the news isn't reliable either.

Good to hear with Bangladesh that they'll be having this kind of movement in their government, I'm very confident that they'll be welcoming Bitcoin and other cryptocurrency as their payment platform as they are now open in studying Blockchain technology.

Scam is happening in our world everyday and not only in cryptocurrency and we can't stop people in doing it but we can make preventive measures to avoid it.

How I wish that my country also allot a budget with Blockhain technology to gain a much more advance technology in the future and to the benefit of the information of the young minds.

Indeed good news. Bangladesh is thinking to reconsider the use of blockchain technologies. It's not yet fully accepted, as we all know they are against cryptocurrency. However, this country has a positive stance toward blockchain technology's capabilities. I just hope, a decision will be made positively soon. Blockchain technology is safe to stored data, they can incorporate it in some fields in which it will benefit their country as well.

I'm not exactly sure if blockchain technology in bangladesh will surely 100% be acceptable. And aside from that does their government will regulate it at once, these are the question came up into my mind. If that so, this could be a great news to all crypto enthusiast but if not, this might be a bad news for sure of course.

Since I can't make anything of what they are talking there either I can only rely on the impression those people make, and looking at them I have a feeling they think blockchain is an app that you download from google store.  ;D

Op is making another post about the next country to become the leader in blockchain technologies , what we had till now, Ukraine, India, Nigeria, South Africa ?? the pick of the pick :P.


Unless Zara and h&m start creating clothes with flash drives I really doubt Bangladesh's blockchain technologies can be put to use.


Nope, nothing about crypto. Just blockchain.

Blockchain is widely applicable in all kind of industries. Private companies use it already, governments are not deeply involved yet so it's good to see that Bangladesh has made that step. And this is something that becomes usual in developing countries. They accept new technologies much easier and without major regulation restrictions, probably because they want to try everything that could help them with economic growth.

Wow thats a good news for Bangladeshi  citizens.. well  i am 100% sure that blockchain technology  will be acceptable  in bangladesh..

Thank you this saved my time of not clicking the link.

Looks like the Bangladeshi gov't does already have a red flag to crypto's as they arrested people who got involved in scams using crypto. Base on other's opinion, this is going to be an all in blockchain upgrade but no bitcoin adoption, sad.  :-\

That will be good news for cryptocurrency user, especially Bangladesh people. I think that will give more adoption from Bangladesh people so they can know about cryptocurrency. But maybe Bangladesh will not give a big impact to the adoption since Bangladesh is a small country, and from the article, people use cryptocurrency for gambling. Maybe they arrested their people because they are played gambling before, and if that is true, then I think gambling is prohibited in Bangladesh. The youtube video uses another language, and I think that is the local language.

It's probably only surprising because it was painted it in such a way that makes it look like their government is being more open to crypto just because they're being more open to blockchain tech. Accepting blockchain technology doesn't necessarily indicate support for crypto though, as it's only really one of many possible applications. There are some sectors that are intrigued by the blockchain but aren't as accepting of crypto, and this is probably one of those cases.

Can't blame people for being optimistic though, I guess, and the media are just taking advantage of them.

You are getting to smart.

Chip mixer for what?

I appreciated it that Bangladesh government accept Blockchain technology, and to see it, other countries who are not accepting blockchain , should see it and see the benefits of it. I know that every citizen feel happy if their government accept blockchain technology. 

if they will accept blockchain then why they dont accept bitcoin and other cryptos ? thats odd . we all know that blockcahin is related to bitcoin and bitcoin is related to blockchain ( vice versa ) but still this is still a good news and this was better than nothing at all  . atleast , blockchain is still accepted even without bitcoin  . blockchain can work on its own without bitcoin because blockchain is only a technology  while bitcoin is a currency ( a crypto )

There is a big difference in meaning when they accept blockchain technology and accepting crytpocurrency, blockchain is a technology that can be implemented in different sectors and accepting bitcoin is a different thing altogether, from what i understand they have banned bitcoin and other crypto use and i have seen some threads here about people getting arrested for trading bitcoin. 

Those who are saying Bangladesh as "small country" should know the fact that Bangladesh is small by land size, not by population. Bangladesh and Russia population is more or less the same but the land size of Russia is about 115x times (https://www.mylifeelsewhere.com/country-size-comparison/russia/bangladesh) bigger than Bangladesh.

What I mean by this is Bangladesh can do much better in economic to claim as a developed country fast enough with the proper planning and of course with less to zero government corruption. My study says Bangladesh has enough resources to claim the so-called developed country. Recently I heard that the world says Bangladesh as "Asian Tiger" as they are developing very fast.

---

To the topic,

I have translated the Youtube title from Bangla to English and it says "Bit-coins getting valid in the new fiscal year"
The news reporter used the word Blockchain then Bitcoin and if we combine with the title then it seems the "news" is saying that Bitcoin is getting approval.
However, later in the news shows that the Prime Minister used the word Blockchain only and no Bitcoin or Cryptocurrency. So in my opinion the matter is still unclear.

Well i think in also bangladesh it will be appreciated.. the bangladesh's people also try to earn more and more through blockchain technology

good news. cryptocurrencies users in other countries are jealous if Bangladesh warmly accept blockchain and cryptocurrencies use. this is very meaningful for the users in it because not many countries provide broad access to cryptocurrencies. the challenge for the government and the Bangladesh users are able to maximize this blockchain access to improve the national economy.

The Czech Republic is half the size, 1/16 of the population and it still has the same GDP.


https://www.businessinsider.com/bangladesh-is-the-new-asian-tiger-2017-4
Yeah, asian tiger...lols



https://i.imgur.com/6B0q8Gm.png

There was a joke about Somalia, how they've managed to increase their economy by 300%.
Their goat had triplets.




Not it's my turn to translate the outcome for you.
It means they have no f clue what Bitcoin and Blockchain is but they are still talking about to look like they are working.
Just like the Russian Agriculture minister was planning to sell pigs to a Muslim country (https://www.telegraph.co.uk/news/2017/10/18/vladimir-putin-bursts-giggles-plans-pork-exports-indonesia/).

Even if both are accepted, I think at a time like this, things like this are more or less just as a formality, while the development to the next level still doubts whether it is really done or not. Maybe the best possible level of use of Bitcoin as a means of payment.

Adoption of blockchain technology by the government doesn't necessarily mean that they are going to adopt and legalize bitcoin or other cryptocurrencies too. It's just possible that they support and adopt blockchain technology but ban bitcoin and other cryptocurrencies completely. But still it's a good news.

They have an option to adopt bitcoin because blockchain can stand alone.

But I believe that later on they will also get engage their transactions with bitcoin and probably with other alt coins too. Just give them time to explore because they are on the beginning stage.

I looked around for the speech mention in the OP, and came across this document:
http://nbr.gov.bd/uploads/budget/Budget_Speech_2019-20_English_Final_Print.pdf.

The reference to blockchain in the document is the following:
That is the sole reference, and there is no mention anywhere on the document to BTC, Bitcoin or Crypto for that matter. The core context therefore is really a technological FOMO (which is rather natural), which leads governments and corporations to at least explore blockchain "on an experimental basis". That is the extent of the news really, which is pretty much the same all around the globe …

Yes, it's not the same thing. Blockchain technology is different from cryptocurrency. May be they're referring to using it in voting process and other things. It doesn't make it a good or bad news for cryptocurrency users.

The incident is correct. But I think that the government or the government who has the full knowledge of the people who are in the work. If they can implement it then it will be very good. And I believe that Bangladesh will go a long way in technical direction.

It's not clear till now. They said that they will start working with Blockchain technology it doesn't means that they are goint to accept BTC.

Every country uses blockchain technology irrespective of their crypto regulations blockchain is essential technology for government organizations

You are right there just what like happen here in my country we have freedom to use bitcoin (cryptocurrencies)but it seems that our government didnt care about entering of crypto here,and then there's no problem about thay so i dont see any sign of causing crypto banning here.

this is very surprising news that countries are now looking at bitcoin and maybe later there are other countries after Bangladesh

I appreciate their decision with the use of blockchain Technology they can overcome modern problems more efficiently and can one the government Driving new vacancies to the industries. I hope they will someday accept cryptocurrencies too, as well as in India government is planning to implement blockchain Technology and on the other hand, they are bunning cryptocurrencies.

I checked those news. Due to the ignorance about BTC the reporter thought Blockchain means BTC. Prime minister said they will start working with it. So it doesn't means BTC is going to be legal in BD.