Bangladesh is going to accept Blockchain technology.

[Easteregg69]

On Bangladesh National Budget 2019-20 Prime Minister Sheikh Hasina declared that they will work with Blockchain Technology. It's a good news for all cryptocurrency user in BD. We can hope that the government will legal and accept BTC very soon.

Source: https://youtu.be/GtHLk5dt1IM

It should be noted that, police arrested 3 cryptocurrency dealer  for their alleged involvement in cryptocurrency on 23 April 2019 because they were related to some SCAMS.

Source: https://www.thedailystar.net/country/news/three-cryptocurrency-dealers-held-bogura-db-habiganj-laxmipur-1735174?amp

I think it's a positive news from the Government of Bangladesh

You are getting to smart.

Chip mixer for what?

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[MFahad]

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. 

[shesheboy]

I don't even understand the youtube link you that you have provided as it doesn't have any subtitle.

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. 

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 )

[7788bitcoin]

On Bangladesh National Budget 2019-20 Prime Minister Sheikh Hasina declared that they will work with Blockchain Technology. It's a good news for all cryptocurrency user in BD. We can hope that the government will legal and accept BTC very soon.
 

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. 

[akamit]

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 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.

[Lily_Olive]

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.

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

[Apes]

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.

[stompix]

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 bigger than Bangladesh.

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

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.

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

Those factors, combined with high levels of corruption, make Bangladesh one of the hardest places in the world to conduct business.

Poor infrastructure makes it difficult to transport goods across the country. Additionally, more than 20% of the population of more than 156 million (about 31 million) aren't connected to the power grid

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

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.

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.

[b3llsf1l3s]

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.

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.

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.

[Adbitco]

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.

[boyptc]

I don't even understand the youtube link you that you have provided as it doesn't have any subtitle.

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. 

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 )

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.

[DdmrDdmr]

<...>

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:

Blockchain: Internet of Value
161.Blockchain technology is becoming an inseparable and secure medium of global information exchanges. In addition to financial transactions, its application has also begun in the areas of business, commerce, intellectual property, healthcare, preservation and sharing of proprietary data. Time has come for Bangladesh to adopt the blockchain technology to keep pace with the new trend. We will use the blockchain technology next year on an experimental basis.

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 …

[unusualfacts30]

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.

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.

[ttcsalam]

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.

[Em00n01]

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.

[localcrypto]

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

[luigi3]

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.

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.

[samsul1234]

On Bangladesh National Budget 2019-20 Prime Minister Sheikh Hasina declared that they will work with Blockchain Technology. It's a good news for all cryptocurrency user in BD. We can hope that the government will legal and accept BTC very soon.

Source: https://youtu.be/GtHLk5dt1IM

It should be noted that, police arrested 3 cryptocurrency dealer  for their alleged involvement in cryptocurrency on 23 April 2019 because they were related to some SCAMS.

Source: https://www.thedailystar.net/country/news/three-cryptocurrency-dealers-held-bogura-db-habiganj-laxmipur-1735174?amp

I think it's a positive news from the Government of Bangladesh

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

[jak3]

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.

[Em00n01]

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.