There’s an international race on to become the Bitcoin hub of the world, but only one nation can make it to the top. Bitcoin and cryptocurrency is an interesting commodity because unlike anything else in the world, cryptocurrency is truly international. Thanks to decentralisation, no countries own it and no countries control it, rather, cryptocurrency is widespread and self governing, meaning the top spot for Bitcoin adoption and exclusivity is up for grabs by anyone, any nation and any people.
Generally speaking, Asia (namely Japan) and the United States are seen as the true leaders when it comes to cryptocurrency and blockchain adoption. The US is often seen as the tech hub of the world, so it’s naturally that tonnes of blockchain products come off American shores. In Japan however, we have already seen very positive moves towards cryptocurrency adoption by governments and banks. Indeed, Japan has been involved in a number of cryptocurrency based disasters, but this is bound to happen when you’re one of the first countries to actually push for adoption right?
Europe seems to be slightly behind in the trend, though we can’t forget how countries such as Malta and Switzerland are really pushing Bitcoins agenda. In the United Kingdom, even small areas such as Jersey are trying to race forward to gain the top spot, but generally speaking, a small UK island like Jersey probably won’t ever gain the momentum needed to take the top spot off Japan or the United States.
The country that adopts cryptocurrency first will be the one that accepts Bitcoin in law and starts to allow Bitcoin to be used in exactly the same way as FIAT currencies. When workers start to get paid their wages in crypto and when shop merchants start to accept crypto, that’s when we know the Bitcoin adoption race will be won. Becoming a Bitcoin hub also means adopting blockchain technologies too. Allowing startups and new Fintech firms to flourish within its borders will allow the eventual champions to really become cryptocentric and of course blockchain savvy.
As the race hots up, where do you think will become the true Bitcoin capital of the world?