First Time in Bangladesh

[iamaruf]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

[RapTarX]

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

[Faysal Fahad]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

[hello_good_sir]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

Bangladesh and other developing countries have really stepped up in recent years, and when big countries like China and the US are left without any room to grow, they've turned to cryptocurrencies and blockchain technology while Bangladesh still doesn't feel a need for blockchain technology and is still focusing on technical development.

Scams happen no matter what, it's likely that they would have been able to scam someone else if crypto didn't exist and they would have gone about it another way. It's just the payment method, that is crypto-currency.

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

It's true, but no country has yet condemned bitcoin but adopted blockchain technology, Bangladesh could try and risk it, I'm personally very interested in what happens.

[chaoscoinz]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

India is old school and up to now has been taking extreme measures in dealing with cryptocurrency. Cryptocurrency give those who are poverty stricken a second chance especially those who depend on the Crypto bounties to make income just to survive. What nay seem like peanuts to some, may feed a whole family within an impoverished country. It is good to see people in India taking the high road to get regulations pushed so that the law becomes easier to navigate. Some countries aren't as quick to reach a compromise.
  I think fear and uncertainty is what drives governments into throwing ban hammers at crypto being it's easy to outlaw it and then figure out the details then to just let things be. It is stifling to creativity and hurts the peoples pockets. Hopefully governments work with the people to make guidance much clearer.

[Upgrade00]

Blockchain technology is a platform which can be modified to support various systems utilized in different ways. This is something every country should be interested in integrating.
It's only a matter of time before it becomes legal in most of the countries in which it is banned, in order for these nations to avoid being left behind.

[Wysi]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

It will be a great news if Bangladesh lifts the ban on bitcoin because it will be a wild market for bitcoin as most of the people is south Asian nations are well versed with bitcoin and crypto unlike other part of the world and definitely they will contribute in a positive way to the world of crypto but we cannot celebrate just with the news of blockchain legalization by Bangladesh government as they can use it in banking sectors or adopt a centralized crypto such as ripple by still placing the ban on bitcoin, blockchain is a vast technology which crypto uses and other non crypto domains does use blockchain.

Even if the country revokes the ban on bitcoin it's people should also support it instead of scamming or using it for wrong purpose.

[Kyraishi]

I believe it's actually been a couple months since they said they where going to accept bitcoin and other crypto-currencies, legally speaking. I do remember their Prime Minster coming out with a statement, but could this be possible cold feet?

I don't think it's related to the scams that have happened in recent years with crypto'sthose where all relatively old and don't seem like a huge issue.

Possibly the recent moves on China's side can almost force countries like Bangladesh to start accepting crypto-currencies.

[Ayiranorea]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

From all that you've mentioned it looks like Bangladesh is moving forward with something positive about the blockchain technology. This needs to get legal usage access for bitcoin, there are countries where blockchain usage is found high while they've got restrictions on cryptocurrency usage. Anyhow acceptance of blockchain technology itself a big recognition for people who have been facing hard days of arrest and other hard punishments for using bitcoin.

[crzy]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

Seriously? are they using the funds of their people or its their personal money? Well, bitcoin is really good for long term holding. Usually government officials are against bitcoin but right now, most of the country are making their way to support bitcoin. Recently China, now its Bangladesh and hopefully my country will also make a big announcement.

[Immakillya]

It's about the blockchain technology itself not cryptocurrency is what they are interested about. They knew blockchain can help them for banking solutions. Even China promotes the use of this technology. I think they are going to create their new blockchain. But no news about removing ban of the country. Hope the government will unban the use of cryptocurrency there. So people will enjoy the benefits of cryptocurrency. Hope they make a big announcement soon.

[jossiel]

We always think that whenever there is a talk about blockchain, it would always be about bitcoin. Although these two are binded together but they are two different entities.

AFAIK, bitcoin was banned there since 2017. Is that correct?

[deadsilent]

Nothing said about adoption of Bitcoin but adopting blockchain as their financial system. Just like China, they are likely to develop their own blockchain. I don't know if it will create hype on market. But still a good thing because they appreciate the use blockchain technology for a better financial governance. I'm not hoping they will unban cryptocurrency there.

[LbtalkL]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

How do I say this, Bitcoin is not illegal but it is not legal too in another country, So we cannot say crypto is illegal because in some country crypto is accepted now like for an instance in china they are planning to tokenize their national currency.
Anyways back to the topic, That's a great move by your local bank that's a simple start of adoption. In fact, here in Asia we already have some Bitcoin  ATM.

[Digitalbitcoin]

Nothing said about adoption of Bitcoin but adopting blockchain as their financial system. Just like China, they are likely to develop their own blockchain. I don't know if it will create hype on market. But still a good thing because they appreciate the use blockchain technology for a better financial governance. I'm not hoping they will unban cryptocurrency there.

I see many countries are ready to accept innovative technology and revolutionary platform for better businesses and governance.

But due to corruption, centralized government, and lack of knowledge about blockchain technology and its environment many countries are still in confusion, even depends upon other developed countries.

But my honest suggestion is don't play with common persons right.

As Bitcoin and other altcoins are open source, so the government has no right to ban or make any legal clause for them, its because if any government cannot control its supply, cannot produce it, and even cannot decide its price then who gives rights to make law for them. May poor countries including India, Bangladesh, and few other Asian countries are misleading to their users by giving false information. And there are no willings to adopt technology for the future.

[lobat999]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

I find this quite ironic that I can't imagine why your Government got so strict with cryptocurrencies when all the while the Bangladesh Central Bank became a victim of  the infamous cyber heist which I think was the result of having a centralized banking system.

Now, legalizing blockchain technology and cryptocurrencies would be good for your country and I hope your Government is on the right path to achieve  and adopt it but first they must have a legal framework to build upon these blockchain aspirations.

[zhekinsp]

Blockchain =/= Bitcoin.

If they stated they are going to make it legal then they even don't know what is that,there is no need of legality from government to use it.

[Yaunfitda]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

Bitcoin and Blockchain are very different though. They may accept and adopt the technology behind bitcoin, but it doesn't mean that they are going to accept bitcoin as well. So I don't think that they will change their hard line stance against bitcoin here. The government may just want to harness blockchain for their own good.

You can see this discussion in the Legal board as well, Bitcoin Bangladesh.

[blckhawk]

Although it does provide publicity to blockchain, the core technology of bitcoin, it wouldn't affect the market as much. These governments adoption, even China, only focuses on the blockchain and not on the bitcoin. They're making their own cryptocurrencies to mitigate bitcoin's popularity since they don't want any decentralization, or power to the people. However, they're more or less likely to succeed though, they're just adding to the crowded altcoin market. However though, it's backed by the government so people may tend to use it especially those new to crypto.

And we can't really do as much since blockchain is not from bitcoin, it's idea and technology is invented way back before bitcoin is made.

[Astvile]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

Do you have any good sources about this information? If really ministers of Bangladesh is holding that big bitcoin each then we can expect Bangladesh to be one of the many countries who will fully adopt bitcoin if they will push it. 100BTC is pretty big.