Bitcoin and Blockchain: These Two Markets Are Surviving in a Dangerous Territory

According to the research by top experts, real-world tangible applications regarding blockchain today appears on the horizon.

The research suggests following years to experience blockchain cementing itself to become one amongst an important crucial technology within this modern age. As this becomes possible, major government bodies across the globe will start cutting themselves within the pieces of blockchain-pie.

Let’s take a glimpse on the territories that are not too convenient for encouraging or are striving for their survival within this space.

  1. India:

Recently, there was news all around the globe about the ban on cryptocurrency exchanges within India. However, following a few turns of events, the source reveals talks about the ban going on. And the other side India government was also searching for ways to securely get started with their cryptocurrency.

According to a senior government official working at a board with the finance ministry, they decide to ponder the launch of their government operating and backed digital coin in India.

Moreover, the RBI aka also had plans to name that particular new coin as Lakshmi.  This Laxshmi coin is on the basis of a Hindu goddess of wealth.  Still, the government has concerns related to money laundering and criminal activities, plans to outlaw every other cryptocurrency.

  1. Estonia:

Today, Estonia is know as the first digital country across this space.  This is because of their major impact behind moving various governmental procedures online. Interestingly, prior to the whitepaper of Bitcoin began surfacing. On the other hand, a government of Estonia was already testing out DLT in 2008.

Also, they named this tech as the hash-linked time-stamping back few years ago. Later on, it developed this tech into blockchain by the name of KSI. As it makes sure about the overall online infrastructure related to the digital country.

  1. Thailand:

The experts are trying to ponder and encourage the adoption of distributed ledger tech system to feed various purposes like election voting. One such territory is the National Electronics and Computer Technology Center aka NECTEC at Thailand.

They have recently accomplished establishing a system for blockchain voting. This new project will focus on digitizing election voting within this overall country. According to Chalee Vorakulpipat, head at the cybersecurity laboratory:

NECTEC developed blockchain technology for e-voting that can be applied to national, provincial or community elections, as well as business votes such as the board of directors. The goal is to reduce fraud and maintain data integrity.

At the moment, they want to seek an environment specifically for testing this tech relatively on a small scale such as elections within universities or say local communities. Moreover, for the full-scale to deploy will likely take some time as each voter will need to hold significant identification, affordable active internet connection.

  1. Italy:

The government in Italy recently initiated to decide on regulation and meetups on to protect the digital assets and DLT aka. Moreover, a statement was released which reads:

This (adoption) can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information.

They are looking to welcome some new step as so far. And this country has not that collective contribution towards the world of the blockchain. Also, the Italian government expects to inherit and implement this technology within various major sectors. The sectors are right from the land distribution, healthcare, transport, and national registry.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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