Small economies with non-natural resources (or little of it) have always had to seek diversification to get their economies going. Singapore probably showed the way as a tech nation, as did former USSR countries, coupled with so-called knowledge economies. These new renewable resources have done really well for them. We also saw a lot of these far-away island nations become offshore financial institutions, but with global regulations on tax optimisation, these old models are becoming obsolete.
Blockchain and fintech is the next, credit to the likes of Malta and Gibraltar to get ahead of the queue. But it's not for every country. I'd still say Japan's a lot farther ahead in terms of useful blockchain/crypto use.
Your comment deserves to be merited. Nice observation and little insight how things stand in the world. It's basic, everyone should know this facts and how things works on global stage.
It's not for every country, bottom line! Japan should be example for other countries, islands like Malta is will always be some kind of financial paradises for people who wish to avoid some financial regulations.
Great comment, you said everything right without mistakes. Others should read it and try to understand it, keep up with great comments.
