The Blockchain is still experiencing a lot of birth pangs , the last nine years have seen a roller coaster of hopes and dreams. It has made a lot of people rich and also left some In penury
However that does not change its awesomeness. One of the quote that stands out the most for me is this quote by Frederic Bastiat
Blockchains like Steemit has birthed a new form of Millionaires and has helped shaped a lot of lives which would have languished under the former economic model run by the banks and government
The reply the government is giving to this revolution is just finding ways to stifle it's growth. The USA took a bad lead with taxing Crypto holders 45% of their earnings, so for an exchange like Binance that made $200 million in the first quarter of 2018. They are meant to remit $90 million dollars if they were based in the United States
Thats outrageous and defeats one of the core value of Cryptocurrencies which is freedom to manage and control ones wealth without any third party having access to do as it pleases with the Money
In the light of this nations like Malta have risen to fill the gap created by the United States and other nations that are not Blockchain supportive. And the chart above already show that Malta have a huge Market share when it come to Cryptocurrency trading volume
Binance and OKeX which are two of the biggest Cryptocurrency exchanges have already made moves that are securing them as foothold in Malta which is just a tiny European Nation. The nation is putting things in Place to ensure friendlier regulations that will also give rooms for Exchange owners to operate in the Nation
They are charging a 5% tax which I believe is fair. Malta has a population of 429,344 with a GDP per capita of 31,850. Malta ranks 84th out of 190 countries when it comes to ease of doing business
The presence of Blockchain businesses will do good for the Maltese economy, Binance has already promised to employ 200 citizens with OKeX likely to do the same
The Prime Minister Joseph Muscat believes that Cryptocurrencies are the future of Money and that iot has a huge role to play in forming the base of a new economy in the future
The transparency and legal certainty offered by the regulations will also help increase consumer confidence when it comes to investing in the Blockchain Space
This move by Malta have also prompted more Blockchain Startups to have Interest in setting up shop in Malta. Justin Sun the founder of Tron announced last month that he was seriously considering investing and operating in the country
I believe that the Blockchain offers Nation with smaller economies an opportunity to grow and Improve their economies by opening the door for the Blockchain revolution.
This is a kind of Opportunity that comes rarely and riding the Blockchain wave will push many nations to economical prominence
