Which countries have the most vibrant crypto & blockchain scene and the most successful ICOs?
Named ‘the most advanced digital society in the world’ by Wired, ingenious Estonians are pathfinders, who are building an efficient, secure and transparent Internet ecosystem. The country tops the list of number of ICOs per inhabitant and if you really want a glimpse at the future potential of blockchain, you should definitely visit Estonia.
For many years, Cyprus has been the Europe financial center due to the advantageous geographical location and beneficial taxing system with no double taxation. The country has never lacked talents: several educational establishments graduate specialists in economy and finance. Today, Cyprus has become a hub for international ICOs.
The small alpine country of Slovenia aims to position itself as the leading destination of Blockchain technology in the European Union (EU). The government is also studying the potential applications of the technology in public administration while many tech startups have filled the news with amazing ICO successes.
Switzerland wants to remain an “attractive location” for ICOs, its international finance ministry has said as it announced the setting up a working group to assess the need for action by the country’s lawmakers or regulators. The affluent Alpine state has accounted for four of the 10 largest ICOs with investors attracted by the country’s business-friendly regulations and digital expertise.
Russia has recognized the endless possibilities of blockchain & cryptocurrencies. The first guarantee system for Initial Coin Offering (ICO) investments is set to launch in Russia in 2018. The system, dubbed ICO-hub, is being developed by Globex Bank, which is a subsidiary of state-owned Vnesheconombank (VEB) bank, together with the Russian Association of Cryptocurrency and Blockchain (RACIB), and the CrowdHub platform. Sberbank, one of the largest banks in Russia, has announced a blockchain laboratory to develop and test blockchain-based solutions.
It might be too soon after the infamous shell company bust but Panama is an emerging player on the blockchain stage. The Blockchain Embassy Panamahas recently opened its doors and intends to serve the general public, connoisseurs, enthusiasts, developers and entrepreneurs in the blockchain ecosystem. Although not a Panamanian, Cryptobuyer, a Venezuelan digital asset company, set up shop in the form of the first two Bitcoin ATMs (BTMs in Spanish) at two commercial banks in Panama City. With the foot traffic of high net worth expats, it makes sense for Panama to be ICO friendly.
Dubai has grown from a tiny fishing village to a major trading hub by attracting businesses with near-zero taxes, advanced transportation infrastructure and a secure environment in a tumultuous region. Today, they are going through a second, even more radical transformation: they plan on being the world’s first blockchain-powered government.
Intitial Coin Offerings or more popularly known as ICOs has seen tremendous growth and is increasingly seeing mainstream adoption by startups as a method to raise fund. In the last year year alone we’ve witnessed more than 200 ICOs with over $3.3 billion USD raised.
2017 was the year the UK went mad for ICOs. Startups in Great Britain raised over 3 billion USD last year.
In december 2017 Turkey was the first country to sign an international shipping deal with another country, in this case for the shipping of wheat from Russia to Turkey. Turkey is also considering the development of its own cryptocurrency, called Turkcoin.