Different countries have had different attitudes towards blockchain technology, with some choosing to adopt it to help in innovation and many others rejecting everything to do with it. Here is a list of countries that have chosen to be identified with blockchain technology and how they are helping in promoting it's growth.
Estonia;
This is one of the earliest countries to embrace blockchain technology which has been applied in different fields to help in the development of the nation. Some of the notable areas where blockchain has been highly involved include medicine, where medical records of Estonians are stored on blockchain to help doctors in easily accessing them during emergencies. There is no better way in initiating treatment as a medical doctor will know where to start from using the history of your treatment.
Another area that has been highly associated with blockchain technology is the country's E-Residence system where people that are not from Estonia can access services provided by the country. These range from proceesssing of payments to starting up a business in the country. This comes at a time when Estonia is in need of more occupants as their population of 1.3million people is low because of the low fertility rate. The E-Residence system has so far brought in more than 27,000 people coming from various countries around the world and as a result influencing expansion in the economy of the country.
Cyprus;
Cyprus has chosen to educate the public about blockchain technology by initiating blockchain courses in the education system of the country. These courses are offered at the University of Nicosia, the largest university in Cyprus and they go upto a Masters degree in Digital Currency studying. Starting is free, which is the reason for the high enrolment and education can be accessed online. The University has embraced blockchain technology further by allowing payments in bitcoin. With this iniative, a lot of people are getting to know the benefits of blockchain technology in the society and can now fully maximise it's potential to grow their communities. This education has played a big role in the growth of multitudes of blockchain start-ups in Cyprus which have been heavily supported by the decentralised economy in the country.
Denmark;
Denmark made it's stand on blockchain technology clear prior to last month when the government signed a declaration to join the states that support blockchain technology. This made a total of 25 European member states that will be working together to develop blockchain technology. This will play a big role in pushing Denmark closer to a cashless society which they are striving for. Transactions in this country are widely digital accounting for upto 95% of transactions which are made through digital wallets, credit cards and mobile payment systems. The high number of cryptocurrency and blockchain technology projects coming up are growing blockchain technology in the coutry at a fast rate and there is no doubt the world is soon seeing it's first cashless society.
Denmark is as well bringing efficiency in delivering humanitarian aid by applying blockchain technology in this field. Millions of dollars sent in aid do not reach the intended people because of the high degree of corruption. Sending money through blockchain will get rid of the various intermediaries through which the funds go through to make funds serve the purpose they are intended to.
Watchout for my next episode of countries which are playing a decisive role in the growth of blockchain technology. Thankyou for reading.