More Countries Continue To Show Support For Blockchain Technology

[markatty21]

South Korea Slash Tax For Blockchain Startups by Over 30%. Blockchain companies operating in South Korea had some good news to cheer on in the past week as the country took a bold step to encourage the growth of the industry.

https://www.addisonchurchill.io/south-korea-slash-tax-for-blockchain-startups-by-over-30/

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[Upgrade00]

Blockchain technology is the future of data processing and management and also interactions between businesses and individuals, more nations would want to key into and support the growth of the blockchain and fintech industries.
The nation with the most favourable and enabling environment would attract more businesses and upstarts.

[NeuroticFish]

I see more countries entering the blockchain development this year. This will in no doubt help them to cut cost and wastage and even fight fraud.

European union also has various grants for blockchain startups.
Since you wrote about fraud, although not 100% related, I've read somewhere that one result of these grants is that businesses that doesn't care at all about blockchain tech try to move to blockchain (and in some cases blockchain is far from ideal for their needs) just to access those grants.
As always, time (and hard work) will make the proper and honest startup develop into nice businesses. And those should indeed help reduce fraud by a great deal.

This necessarily don't really mean they are going to be friendly to Cryptocurrency at the same time.

Yup. "Blockchain is not Bitcoin" is something we have to clearly keep in mind when we are so happy about the blockchain businesses. Most will not interact at all with cypto.

[HODL2090]

As always, time (and hard work) will make the proper and honest startup develop into nice businesses. And those should indeed help reduce fraud by a great deal.

Time is a very significant factor. Blockchain technology is still a new technology, it has been around since before bitcoin, but it needs time to mature and fill out it's space.
When the current crop of start-ups become established industries it would open wider doors for more entries.

[mahibul49]

blockchain technology is still new technology and a few countries are using it right now and blockchain adoption is increasing significantly and more and more country will use and support blockchain technology.

[deisik]

This necessarily don't really mean they are going to be friendly to Cryptocurrency at the same time.

Yup. "Blockchain is not Bitcoin" is something we have to clearly keep in mind when we are so happy about the blockchain businesses. Most will not interact at all with cypto.

While technically true, this doesn't exclude Bitcoin and other cryptocurrencies either

Further, I can't imagine a field of application other than cryptocurrencies where the blockchain technologies would be useful. This doesn't mean that they can't be used (as they definitely can), but how competitive will they be to other technologies? Blockchain comes with a lot of overhead, so, personally, I don't think there'll be a lot of projects involving blockchain (other than vaporware) and not involving cryptocurrencies in some way. But you may provide examples of such uses if you wish

[MonaLeeTracy]

I think it's natural for every country to operate the blockchain. because the blockchain will increasingly develop and they also see that the blockchain is a new technology that is emerging, and the emergence of the blockchain has benefited every country that operates it.

[suzanne5223]

Blockchain technology is the future of data processing and management and also interactions between businesses and individuals, more nations would want to key into and support the growth of the blockchain and fintech industries.
The nation with the most favourable and enabling environment would attract more businesses and upstarts.

I agree with you on that because blockchain is the innovation technology which can be use in every aspect as goods and services are concern. However, I will say I'm not so surprised with the news because the Korea have been crypto friendly right in the past even when the Chinese place ban on bitcoin.

[Huskarls]

This necessarily don't really mean they are going to be friendly to Cryptocurrency at the same time.

Yup. "Blockchain is not Bitcoin" is something we have to clearly keep in mind when we are so happy about the blockchain businesses. Most will not interact at all with cypto.

but if we release the meaning of the second relationship between blockchain and bitcoin / alts, in my opinion it is quite something in vain. The Blockchain provides bitcoin / alts as a tool for implementation in the system, while bitcoin uses Blockchain as an appropriate platform

[aoluain]

Blockchain technology is the future of data processing and management and also interactions between businesses and individuals, more nations would want to key into and support the growth of the blockchain and fintech industries.
The nation with the most favourable and enabling environment would attract more businesses and upstarts.

Not to forget that blockchain technology is contributing to this next
industrial revolution. There are many countries who are promoting
blockchain tech companies. These are countries with progressive
approaches and can see the future benefits which include employment
and in return revenue.

The E.U for example have setup the "european blockchain partnership"
The idea behind the coalition is sumarised as folliws from the link

In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens.

https://ec.europa.eu/digital-single-market/en/news/european-countries-join-blockchain-partnership

[hxtop]

Seeing participitation of more countries support of blockchain technology is a key indicator that we are on the right side. Since blockchain technology brings many new secured ways of making business, application areas of this technology are widening not only in financial sector but also in manufacturing sector.

[Incodium Coin]

Blockchain technology is the present and future of a lot of processes in the public service. From maritime, elections, and other administrative processes, the use of blockchain technology will both facilitate the process and save time and money. There is also the issue of corruption, hopefully blockchain technology can serve to reduce bribery too.

[Pain to go mad]

There are many applications of blockchain technology that can play a key role in the era of 5G, so a lot of companies and countries are researching and developing blockchain technology. This is a sunrise industry, make a person look forward to.

[Thanasis]

South Korea Slash Tax For Blockchain Startups by Over 30%. Blockchain companies operating in South Korea had some good news to cheer on in the past week as the country took a bold step to encourage the growth of the industry.

https://www.addisonchurchill.io/south-korea-slash-tax-for-blockchain-startups-by-over-30/

It is very good news for the blockchain technologist because it will increase the job opportunities for them.But other countries with much population level need to adopt this technology for more popularity and application level to increase.

[Diego_Armando]

I am holding a bag of useless illiquid tokens. So do millions of other people in our community. We must do something about it! So I decided to Pick up the gauntlet. I’m having meetings with projects leaders, big companies, and trading platform, trying to find the best solution for all of us. Would love to hear your situation, thoughts, and ideas.

[Naida_BR]

More and more countries understand that blockchain is a technology that it is going to reshape the global economies. As I can see the first countries that embrace this idea is the ones that have high levels of innovation in their processes. Given that, they create blockchain hubs in their innovation areas in order to promote and attract new companies that are in fond of the Blockchain technology.

[Bosx1ne]

South Korea Slash Tax For Blockchain Startups by Over 30%. Blockchain companies operating in South Korea had some good news to cheer on in the past week as the country took a bold step to encourage the growth of the industry.

https://www.addisonchurchill.io/south-korea-slash-tax-for-blockchain-startups-by-over-30/

As time passing by, the cryptocurrency community is becoming more powerful. There are now many news all over the world about the legalization and acceptance of the cryptocurrencies in a certain country. I am sure that the mass adoption will occur soon.

[Linkkoin]

The blockchain is a milestone in technological progress. As important to mankind as an invention of the first aeroplane.

[SkustaClee]

South Korea Slash Tax For Blockchain Startups by Over 30%. Blockchain companies operating in South Korea had some good news to cheer on in the past week as the country took a bold step to encourage the growth of the industry.

https://www.addisonchurchill.io/south-korea-slash-tax-for-blockchain-startups-by-over-30/

The blockchain technology already proven that it can help the current payment system to become more faster and better. There are now many countries that keep supportig it because of its uses and functions in the economy.

[Forbiddenone]

If a technology can provide better payment system and security which is the main issue as there is multiple hack attempt regularly going on then government will be automatically attracted towards that technology i.e blockchain.