With governments trying to catch up on legislation and regulation many people wonder where is the best/ safest location for blockchain-based start-ups?
HWC presents the friendliest locations for blockchain.
Hainan is a small remote island that due to location and size faces less scrutiny than cities such as Beijing and Shanghai. The capital city of Hainan, Haikou launched a blockchain zone in 2018 and is now home to 75 start-ups, including Microsoft and HP. The island is also the location of a blockchain research institute that collaborates with Oxford University’s blockchain research center.
Yang Chen, President of Hainan’s Financial Supervisory Authority said:
We hope that Hainan will become the center of offshore innovation and entrepreneurship demonstration zone, the center of national blockchain research and application demonstration as well as the national digital asset trading demonstration zone.
Germany has recently taken the lead in Europe by setting regulations for cryptocurrencies. In 2020 it will become the first country to allow banks to sell and store cryptocurrency. It is believed Germany will become a crypto haven with many greeting the news with enthusiasm.
Germany is the fourth-biggest economy in the world so this move will no doubt influence acceptance of crypto. Germany is already home to 30 crypto startups with number expecting to increase.
Wyoming is Americas Crypto haven. The state has introduced 13 laws in favour of the development of the blockchain business. It has attracted business from all over and is one of the very first US states to categorise digital assets as legal property.
The state has established crypto custody institutions for holding cryptocurrency that has the goal of drawing a steady flow of digital assets.
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