The Most Bitcoin-Friendly Countries in the World

Whether we like it or not, blockchain technology is slowly and quietly changing the world, arguably into a better place for us all. The crypto and blockchain sphere has come a long way since January 2009 when the first Bitcoin block was mined.

The world seems to be somewhat split when it comes to crypto and blockchain adoption. On one side, there are countries, governments, instructions that fear the lack of clear, black on white regulations. However, on the other side, there are countries that have somewhat thrown caution to the wind and fully embraced this technological marvel called cryptocurrency (as well as its underlying technology, the blockchain).

In this article, we will look at the most bitcoin-friendly countries in the world. For the purpose of this list, we won’t be looking at countries whose citizens happen to own a lot of Bitcoins or other altcoins, but at the countries that have gone out of their way to attract as much bitcoin business as possible. Another important aspect, our list includes only countries with pro-crypto governments and state institutions.

Japan

Japan is of the pioneers in the creation and establishment of rules for cryptocurrency exchanges. It’s also one of the first countries to legalize cryptocurrency and give it its legal tender status in 2016 and has even gone to the extent of exempting crypto users and crypto businesses from paying taxes in 2017.

bitcoin has been declared a legal tender in Japan, and more than ten crypto exchanges have received an official license from the Financial Regulator body. The clear conditions created thanks to these regulations has not only helped Japan boost its crypto economy but has also opened the way (by setting an example) for other countries to do the exact same.

Malta

Next on our list is Malta, often regarded as the “Blockchain Island.” The island state is renowned for its pro-cryptocurrency attitude and for passing three bills establishing a unique and efficient framework for blockchain technology as of July 2018. Malta has been making a lot of headlines recently, and cryptocurrency has always been one of the top priorities for the Maltese government.

What’s most astonishing is the fact that the country’s prime minister has even called cryptocurrency “the inevitable future of money.” In fact, Malta is so cryptocurrency-friendly that Binance, the giant Chinese crypto exchange moved its operations base there.

Switzerland

Switzerland’s Zug, or “Crypto Valley” as it’s often referred to, has surely reached the ears of most crypto enthusiasts, and for good reason. Nowadays, Switzerland is home to thousands of blockchain startups and is currently attempting to become what experts call a “crypto nation.”

bitcoin is clearly not a novelty in Switzerland, as the government has built a task force specifically for exploring and expanding crypto and blockchain implementations within the country. Currently, Switzerland is home for big names such as Tezos, Ethereum, and ShapeShift.

Liechtenstein

Liechtenstein has always been a peculiar country sitting right in the middle of Europe but no a member of the European Union. Liechtenstein, the sixth smallest nation in the world, has been capturing more and more headlines lately thanks to its friendly attitude towards cryptocurrencies.

There has been a lot of pressure coming from both international and European regulators that if forcing the institutions from Liechtenstein to become extremely transparent regarding their practices which has somewhat forced the country to embrace blockchain technology more and more. Without a doubt, Liechtenstein is one of the most bitcoin-friendly countries in the world at the current moment.

Estonia

Not many know, but Estonia is the first country in the world to establish something called e-residency. Estonia has been making impressive strides to encourage blockchain technology, an aspect clearly visible considering Estonia’s digital identity and healthcare systems have been both revised through the usage of blockchain tech.

In addition its e-residency program, Estonia is also considering to establish a cryptocurrency called Estcoin for payment processing. It’s also one of the European countries that embraced bitcoin from its early stages. The bitcoin community is blooming in Estonia, and the country is home to various ATMs and startups that trade or accept bitcoin.

Australia

Australia has made numerous headlines in 2018 thanks to its positive views of cryptocurrencies and blockchain technology alike. Australia is one of the first countries to declared cryptocurrencies (bitcoin included) as legal tender. What’s more, the Australian parliament declared all digital coin exchanges as being legal.

bitcoin is no longer a novelty in Australia, especially in some coastal cities where digital currently is actively used to promote and boost the tourism sector. In some touristy parts of Australia various local companies, including tour operators, restaurants, airports, and accommodation providers accept bitcoin.

Slovenia

Slovenia is another central European country that took important steps towards crypto and especially bitcoin adoption. So much so, that the local administration of the city of Kranj has even created a huge bitcoin statue in a roundabout.

Currently, in a time that most countries still struggle with crypto adoption and regulation, Slovenia is already at the forefront of crypto innovation with its multitude of crypto and blockchain startups. Due to the friendly legislation and the big crypto community in the country, people can already buy a lot of things with Bitcoins in most shopping centers.

Conclusion

There’s no denying that the usage and awareness of blockchain and cryptocurrency are steadily advancing worldwide. While some countries have recognized the advantages, others are still very much going in the opposite direction and try to keep bitcoin as far away as possible from its citizens. Still, the countries in our list are perfect examples of forward-thinking as they currently are at the forefront of bitcoin and blockchain technology adoption.

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Published at Mon, 04 Mar 2019 12:30:24 +0000

December 28, 2017

ZFX Token Fuels Investor Experiential Learning

Common thinking suggests that investment markets are against you.

This includes stocks, mutual funds and, of course, cryptocurrency. It’s in these sectors where unfair market advantages such as investors with better access to information and high-frequency trading are among the barriers that the average everyday trader is facing. This is why over half of investors lose money during their first year of investing.

But one project believes there is a better way forward. ZFX Token, created by ZeroSumMarkets — a purveyor of peer trading foreign exchange (FX) competitions — aims to do that by revolutionizing the retail trading experience. In balancing the playing field by giving users a way to learn, test and compete against other traders, ZeroSum mitigates many of the trading fee barriers and market forces that hinder retail trader success.

This innovative model is predicated on rewarding participants for their inherent skills as traders. It does this by eliminating trading fees and access to unfair advantages commonly seen in the FX world. In reducing costs, unfair algorithms, risks of trust and preferential access to information, ZeroSum opens up windows of possibility for retail traders to learn, experiment and compete against peers — and earn while doing it.

In short, ZeroSum is a live ecosystem where FX traders compete head-to-head in skill-based competitions. No trading fees. No high-frequency traders. No algorithmic trading.

The ZFX Token fuels the ecosystem by serving as the conduit for exchanging and extracting monetary value from these fantasy competitions.

Built on the Ethereum blockchain, the tokens are designed to be highly transferable. It’s here where the ZeroSum platform aims to be the platform for all blockchain prediction markets competing against the likes of Augur and others in this nascent niche. Through the enabling of third-party application programming interface (API) support, a sentiment engine and the opportunity to create competitions tied to a data feed, the opportunities are immense.

This ZFX tokenized model was seeded by a number of Wall Street traders who together brainstormed ideas about how to teach retail trading investors the tricks of the trade. They applied the concept of fantasy football to the world of trading so that both new and experienced traders could practice, learn and compete against one another. It’s designed to function as a peer-versus-peer platform, where winners of each competition take home real money. (ZFX tokens can be sold on the market for USD or other currencies.)

This concept, which has been in development since 2016, currently has thousands of active users who have tested it in beta. Over $300,000 of seed capital was initially raised for platform development and the beta launch.

ZeroSum fantasy trading is experiential in the sense that users can participate without risking a ton of capital for FX trading or for cryptocurrency. By way of example, an otherwise reluctant newbie may see it as a way to test new investment strategies or try new options. For these reasons, it’s a great way to get started for those unfamiliar with the deeper nuances of the industry.

The Road Forward

The ZeroSum fantasy trading target market consists of FX, stock, cryptocurrency and retail investors in the U.S., primarily in Chicago and on the East and West Coasts. Three emerging trends are informing this path ahead:

FX markets continue to move the most amount of money per day.
Cryptocurrency markets are highly volatile and will get more so as institutional investors pour into the space (through futures trading, options trading and more).
Educating investors through a hands-on approach, where they can test, try and learn — without having to invest a lot of money or spend huge amounts on FX or cryptocurrency trading fees.

ZFX aims to become the fundamental means of exchange for fantasy competitions of any type that have a reliable data feed. Think FX competitions, stock trading competitions, weather prediction competitions, traffic prediction competitions — literally anything that has a reliable and accurate data feed will be possible.

The ZFX token sale is scheduled to begin January 3, 2018. This will allow further development to take place in terms of the platform, including more trading competitions as well as a sentiment data feed to find alpha signals. It is expected that the token will be listed on exchanges shortly thereafter.

Included is a token bounty program where participants can earn up to 75 million ZFX tokens. It allows users to participate interactively and earn entries for every new participant they bring into the program.

Click here for more information and to sign up.

Note: Trading and investing in digital assets is speculative and can be high-risk. Based on the shifting business and regulatory environment of such a new industry, this content should not be considered investment or legal advice.

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