Blockchain is one of the “hottest” words on the net. Google
trend visibly shows its traction over time. LinkedIn is nowadays full of
blockchain groups, experts and this magic word started appearing in job titles
as well as job postings.
It is often associated with terms like revolution, change,
new era, breakthrough, transparency and liberation.
It is also not short of influential ambassadors, amongst
these the former Greek minister Yanis Varoufakis.
Marc Andreessen, cocreator of Netscape is even more peremptory:
“Oh my god, this is it. This is the big breakthrough. This is the thing! This
is the distributed trust network that the internet always needed and never
had”. Arriving at the point of suggesting a Nobel Prize for who made it
Despite blockchain it is still a relatively young
technology, we can already observe very successful companies in the domain and,
no surprise for an industry expected to reach over 57 Bn$ by 2025,
unicorns, companies with over 1Bn$ valuation, already appeared.
The peer-to-peer payments technology company has already
raised 246M$ across 26 investors.
Estimated annual revenues: 3M$
Estimated valuation: 3Bn$.
The us money transfer company has already raised 246M$
across 26 investors
Estimated annual revenues: >400M$
Estimated valuation: 2Bn$.
Blockchain deployment is getting wider and wider but it is
still far away from reaching its full potential.
Reason behind that seems to relate to a lack of trust as PWC
research highlights. Regulatory
uncertainty is the main reason holding back wild blockchain adoption.
The challenge for the governments in regulating blockchain
is fully understandable. Especially if we consider that the first blockchain
applications, Bitcoin, bypassed regulation completely to tackle inefficiencies in conventional
intermediated payment networks.
In light of this it is un
Blockchain, however, is much more than bitcoin, and while
some governments keep an hostile regulatory approach, others are pioneers developing
advanced regulatory frameworks to fully exploit blockchain benefits while ensuring
the highest financial standards and the security for the customers. The countries
in the frontline of blockchain regulation have been able to create new
economical blockchain ecosystem attracting startups and investors.
Malta – The Blockchain Island:
The Mediterranean island is in the frontline of improving
and enhancing new regulations for securing a pioneering role in attracting innovative
and avant-garde technologies. To date two major crypto exchanges, Binance
and OKEx, have relocated here as well as Apple co-founder Steve Wozniak who
joined a Malta-based blockchain enterprise targeting more efficient use of
Zug – The Crypto Valley:
The leading role of this region started in 2014 when Ethereum
located its headquarter in Zug and the Crypto Valley offered the legal
infrastructure to make the vision of Vitalik Buterin a reality. Today the area
is home of over 600 crypto companies, and it is one of the most active
Singapore – The Asian Crypto Heaven
The Monetary Authority of Singapore (MAS) has taken several
positive steps towards blockchain technology resulting in an astonishing growth
of tech startups and
As member of the government commented, the ambitions for the
future are even higher: “We will be among the first few financial
services regulators in the world to introduce a regulatory framework for
digital payment token services, or what are commonly understood as
cryptocurrency dealing or exchange services.”