Can your country become crypto friendly?
If this question has ever crossed your mind then you have to look at the answer from the point of view of one of the two contradicting views.
Like the two sides of a coin this question has two different and contrasting aspects that need to be dealt with.
Let us explore the answer from the perspective of the world's most populous country India.
The answer would hold true for most countries.
On one side is the huge population of India that is vibrant and has the zeal to thrive and grow.
The harsh reality of today
Even though the global population is growing at a tremendous rate, the opportunities are not. This means there are not enough jobs for everyone.
Doing business is not easy
Those who cannot find a job need to find some form of employment however without the skill, training and the aptitude most businesses would fail.
Besides this being a first generation entrepreneur is not very easy.
People would love to get involved into industries that are thriving and have a global reach.
Crypto & blockchain technology fits the bill
The blockchain technology can be used to find solutions to so many challenges that different industries currently face.
Besides this it is a Sunrise industry that is generating a lot of jobs and resources for a lot of people around the world.
Not only can this industry provide employment to the people but it can also help any country earn valuable foreign exchange and build crypto resources.
The government needs to have a favourable stand towards blockchains and crypto. If this were to happen then a lot of opportunities can be created.
However for this to happen the government needs to see the opportunity that this sector can create for its people and the economy in general.
Dubai is a fine example of a crypto friendly government
Dubai has zero income tax and its government does a lot to support its citizens and the economy.
From the time Dubai turned crypto friendly a lot of crypto businesses have migrated to this new land of opportunity.
Can other countries follow this example?
Crypto adoption is helping economies all over the world. The only reason a country may not be crypto friendly is lack of knowledge about the opportunities this industry can bring to your country.
Go the Switzerland way
Switzerland is another country that supports crypto and blockchain technology in a big way. At one point Switzerland was the throbbing financial centre of the world and then places like Singapore emerged that began to challenge Switzerland's dominance in the financial sector.
By supporting blockchains and crypto based businesses Switzerland is providing the right ecosystem for any business to develop, grow and thrive.
The government and people needs to be on the same page
Supporting crypto is not about losing control. Perhaps a lot of people in government believe that if they allow crypto or blockchains then they lose control over things.
What they do not realise is the opportunity that the citizens can avail of if the right crypto environment is created.
final thoughts
The citizens and the governments need to come on the same page when it comes to the crypto and blockchain industry. With the two coming in sync a lot of opportunities can be created that can make the citizens prosper and the national economy become robust at the same time.
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