If a country has high population like Nigeria and the government give a favorable environment for bitcoin and other crypto adoption, many Nigerians will be involved in crypto adoption generally.
The government know fully well that the adoption will be massive and that would mean prosperity for the people. They're only afraid that when the people are very comfortable and no longer hungry like they've kept them, it might mean an end most of their political ambitions. They fully know the benefits of crypto relating activities thriving the country and how it will give financial power to the people. They're afraid of people wielding such power knowing fully well they thrive from the victimization of these people.
There are various economic advantage of giving crypto a favorable environment in the country like
Attraction of FundsWherever big exchanges are, they will draw in other crypto projects and businesses. This leads to a huge influx of funds to the local economy, in hundreds of billions of dollars (USD), from all over the world. Crypto investments are borderless. Good ICOs are invested in by people from all over the world.
Attraction of TalentCrypto businesses are lead by the sharpest minds on the planet. They are early adopters and developers of technology and financial industry. They push the envelope forward. Clear and favorable regulations on how ICOs are accepted by governments, listing on exchanges, and competitive personal tax policies are key to attracting these talents.
Local Job CreationCrypto businesses are well funded. In 2017, crypto businesses raised $5.7 billion USD from ICOs, bigger than VC investments in the same year. In Jan of 2018 alone, crypto businesses already raised more than $2 billion USD, and the trend is accelerating. These businesses must hire people to grow their teams, creating job opportunities in the local community.
Tax Revenue for GovernmentsUnlike startups in other industries, cryptocurrency startups are often profitable from the beginning. Some are extremely profitable (see later). These profits generate significant tax revenue for the government, often in hundreds of millions of USD for each business.
Industry GrowthIn addition to the direct tangible benefits, there are significant intangible and long term benefits, which we believe, far outweigh the immediately quantifiable ones mentioned above.
With more crypto business booming in one area, they will build a local culture that is crypto friendly and crypto advanced. This is similar to the startup culture in San Francisco, financial culture in New York, etc. With this culture built, it will help to shape the local economy, to be a world leading one. Early adopters could realize trillions of dollars in benefits compared to late adopters.
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