Tech

15 Most Advanced Countries in Blockchain Technology

Published

8 months ago

2 June, 2024

In this article, we will look at the 15 most advanced countries in blockchain technology. We have also discussed the global blockchain market along with key players. If you want to skip our detailed analysis, head straight to the 5 Most Advanced Countries in Blockchain Technology.

According to Fortune Business Insights, the global blockchain technology market, valued at $17.5 billion in 2023, is anticipated to witness a whopping compound annual growth rate (CAGR) of 59.9% from 2023 to 2030, reaching a valuation of $469.49 billion by the end of the forecast period. This growth trajectory is propelled by the expanding acceptance of cryptocurrencies worldwide and the increasing adoption of blockchain technology in financial and retail sectors. The market is further buoyed by services like Blockchain as a Service (BaaS), which enables small and medium-sized enterprises (SMEs) to explore blockchain applications without the complexity of in-house development.

In terms of trends, cryptocurrencies play a pivotal role, incentivizing blockchain infrastructure development and driving innovation in scalability, privacy, and interoperability. The market is witnessing an increase in diverse blockchain applications beyond cryptocurrencies, such as supply chain management, cross-border payments, lot lineage/provenance, trade finance, and identity management.

The outlook for the blockchain market remains promising, especially with North America leading in technology development and adoption. However, regulatory uncertainties pose challenges, necessitating market players to navigate complex legal frameworks. Moreover, the shortage of skilled talent in blockchain development acts as a barrier to realizing its full potential.

However, it is also worth highlighting that after a cryptocurrency downturn, which eroded over $1 trillion of investors’ wealth since 2021, renewed optimism is emerging. However, the US risks lagging behind due to its sluggish stance on crypto regulation, potentially missing out on the recovery of digital assets and blockchain technology. Data reveals a concerning trend: the share of blockchain developers in the US has declined annually since 2018, indicating a shift in the global landscape.

Despite these challenges, there are still signs of blockchain investment within the US Franklin Templeton and Walt Disney have made major moves into blockchain applications. Additionally, anticipation surrounding the approval of the first bitcoin exchange-traded fund suggests a potential resurgence in enthusiasm. However, if the US fails to retain the loyalty of blockchain innovators, it risks losing its influence over this transformative technology, potentially ceding ground to regions with more favorable regulatory environments.

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Nevertheless, the blockchain market offers vast opportunities, particularly in emerging regions like Asia-Pacific, where favorable regulatory environments and government initiatives drive market growth. As blockchain continues to evolve, stakeholders must stay abreast of market dynamics, technological advancements, and regulatory changes to capitalize on emerging opportunities and overcome existing challenges.

Let’s look at some key players in the blockchain technology and their recent developments.

Bit Digital, Inc (NASDAQ:BTBT) recently secured an agreement for 6 megawatts of additional hosting capacity for its miners. The agreement, finalized with a subsidiary of Coinmint LLC in Massena, New York, boosts Bit Digital’s total contracted hosting capacity to about 46 MW. With an initial one-year term and automatic renewals, Bit Digital, Inc (NASDAQ:BTBT) plans to deploy approximately 2,340 S19k Pro mining units purchased for $3.4 million, equating to roughly $13/TH, at the facility.

Bit Digital, Inc (NASDAQ:BTBT) aims to achieve this growth incrementally to facilitate strategic procurement decisions and enhance both scale and fleet efficiency. Bit Digital, Inc (NASDAQ:BTBT) operates bitcoin mining operations across the US, Canada, and Iceland, alongside offering infrastructure services for AI applications through its Bit Digital AI business line.

Bit Digital, Inc (NASDAQ:BTBT) is also one of the most valuable blockchain companies in the world.

On the other hand, Robinhood Markets, Inc (NASDAQ:HOOD) is a key American financial services firm renowned for its commission-free electronic trading platform. Since its inception in March 2015, the company’s mobile app has enabled users to engage in seamless trades of stocks, exchange-traded funds (ETFs), and cryptocurrencies, including individual retirement accounts. As a FINRA-regulated broker-dealer and a member of the Securities Investor Protection Corporation, Robinhood Markets, Inc (NASDAQ:HOOD) ensures compliance with US Securities and Exchange Commission standards, offering a secure trading environment.

Robinhood Markets, Inc (NASDAQ:HOOD) generates revenue through various channels, including interest from customers’ cash balances, selling order information to high-frequency traders, and margin lending. With 23.4 million funded accounts and 10.9 million monthly active users as of December 2023, Robinhood Markets, Inc (NASDAQ:HOOD) has become a major player in the financial technology sector. Notably, Robinhood Markets, Inc (NASDAQ:HOOD) expanded its services by introducing a cryptocurrency wallet to over 2 million users in April 2022, further solidifying its position in the market.

15 Most Advanced Countries in Blockchain Technology

A bustling server farm, reflecting the company’s investment into cryptocurrency mining.

Our Methodology

We assessed the advancement of countries in blockchain technology using two main criteria. Firstly, we examined the number of blockchain patents granted to each country, sourced from CoinClub. Secondly, we analyzed the venture capital funding invested in blockchain technology in 2021, using data from BlockData. For investment rankings, a higher rank indicated greater investment (ranked from 1 to 20), while for patents, a rank of 1 indicated the highest number.

After ranking countries on both sets of data individually, we averaged the rankings from both metrics. We then arranged the countries in ascending order based on their average rankings. We’ve also mentioned their rankings on individual data sets mentioed above.

The choice of these metrics was made to provide a comprehensive evaluation of a country’s advancement in blockchain technology. Patents indicate innovation and development in the field, while venture capital funding reflects investor confidence and financial support for blockchain projects. By considering both metrics, we aimed to capture both the technological and economic aspects of blockchain advancement in each country.

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15. Mexico

Venture Capital: 12

Blockchain Patents: 27

Average Rank: 19.5

Mexico has emerged as one of the best countries for cryptocurrency, ranking 16th globally in crypto adoption. With an increase of 18% year-on-year in transactions on platforms like Bito’s exchange, boasting 8 million users worldwide, Mexico showcases promising signs of adapting to the virtual era of currencies.

To read more about crypto adoption, see 20 Countries with the Highest Cryptocurrency Adoption.

14. Philippines

Venture Capital: 15

Blockchain Patents: 22

Average Rank: 18.5

The Philippines has been as a trailblazer in blockchain technology, evident through its strategic adoption of Hyperledger Fabric for wholesale central bank digital currency trials. Leveraging blockchain’s distributed ledger technology (DLT), the Bangko Sentral ng Pilipinas (BSP) aims to enhance interbank transactions’ efficiency and accessibility.

13. Austria

Venture Capital: 6

Blockchain Patents: 29

Average Rank: 17.5

Austria is at the forefront of blockchain innovation, exemplified by the Austrian Blockchain Centre, a collaborative effort among five leading universities. This center, renowned as Austria’s largest, focuses on practical blockchain implementation and extensive research.

12. Switzerland

Venture Capital: 16

Blockchain Patents: 19

Average Rank: 17.5

Switzerland is a leader in blockchain technology owing to its progressive regulatory environment and innovative financial institutions. PostFinance, a subsidiary of SwissPost and one of Switzerland’s major banks, recently partnered with Sygnum to offer retail cryptocurrency services, becoming the first systemically important bank to do so. With generally high salaries, Switzerland is also known to be one of the best countries for blockchain developers.

11. Brazil

Venture Capital: 9

Blockchain Patents: 18

Average Rank: 13.5

Brazil is at the forefront of blockchain technology with its innovative approach to enhancing security in data management. The government’s implementation of blockchain for the new national identity card system demonstrates a commitment to combating fraud and improving efficiency. Spearheaded by the Federal Data Processing Service (Serpro), Brazil’s blockchain network, b-Cadastros, facilitates secure data sharing among governmental bodies. The new blockchain-enabled ID cards offer a digital version with enhanced authentication features, including a printed QR code.

10. Australia

Venture Capital: 17

Blockchain Patents: 7

Average Rank: 12

Australia is considered a blockchain leader due to its proactive approach to regulatory frameworks, showcased by Ripple’s recent policy summit in Sydney. Attended by global policymakers and industry leaders, discussions revolved around Australia’s proposed regulations for digital assets, aiming to integrate them into existing financial frameworks overseen by ASIC.

Australia is also one of the most advanced countries in space exploration.

9. Japan

Venture Capital: 18

Blockchain Patents: 4

Average Rank: 11

Japan is one of the countries with the best blockchain technology. With the cabinet’s approval of a bill enabling venture capital firms to invest in crypto assets, Japan paves the way for burgeoning Web3 startups. This legislation, if ratified, promises to invigorate Japan’s blockchain and decentralized finance sectors. Despite challenges, such as profitability concerns for stablecoin issuers, Japan’s regulatory clarity positions it as a global leader in blockchain governance, setting a precedent for others to follow.

8. Germany

Venture Capital: 13

Blockchain Patents: 8

Average Rank: 10.5

Germany is one of the top 10 most advanced countries in blockchain technology, evidenced by initiatives like Union Investment’s launch of a blockchain fund. With €455 billion ($493 billion) in assets under management, Union Investment is a major investor in tokenized assets, including digital bonds from the European Investment Bank and Siemens. The UniThemen Blockchain fund reflects Germany’s commitment, allocating up to 15% of its assets to crypto tokens and the majority to blockchain-related stocks and assets.

On a side note, Germany is also one of the highest paying countries for bankers.

7. Singapore

Venture Capital: 7

Blockchain Patents: 12

Average Rank: 9.5

In Singapore, blockchain technology has garnered huge traction, especially among financially savvy individuals, with over half owning cryptocurrencies. Staking has emerged as a prominent use case, with 55% utilizing centralized exchanges and 38% engaging with decentralized finance (DeFi) apps for staking activities. These numbers confirm that Singapore is one of the most popular countries in blockchain technology in 2024.

6. Hong Kong

Venture Capital: 3

Blockchain Patents: 15

Average Rank: 9

Hong Kong is a vanguard in blockchain technology, evident through its stringent regulatory measures and proactive approach. The Securities and Futures Commission (SFC) of Hong Kong has been vigilant against fraudulent crypto exchanges, exemplified by its recent warning against HKCEXP for falsely claiming SFC registration.

Click here to see the 5 Most Advanced Countries in Blockchain Technology.

Tech

Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

The one and only FAME King Sheeraz Hasan is launching Hollywood.ai, a revolutionary platform designed to integrate the cutting-edge realms of Web3, cryptocurrency, AI, finance and entertainment. This revolutionary initiative is set to create a seamless, interactive and intuitive ecosystem where the world’s leading technology luminaries can collaborate on innovations, ultimately redefining the future of digital interaction.

Hollywood.ai represents the convergence of the most complex technologies of all time. Fusing Web3 principles, cryptocurrency utilities, AI advances, and financial machinery, Sheeraz’s platform aims to become the nucleus for innovation and modernization. It provides a high-tech environment where technology and creativity collide harmoniously, paving the way for new paths in the digital economy.

A defining feature of Hollywood.ai is the integration of cryptocurrency into the AI ecosystem, transforming AI into a tokenized asset with full cryptographic utility. Sheeraz’s novel approach presents new avenues to leverage the myriad capabilities of AI in the financial realm, unlocking unprecedented opportunities for developers and users alike. Through the amalgamation of AI and cryptocurrency, Hollywood.ai is paving the way for an incredibly interconnected digital space unlike anything seen before.

The platform’s design emphasizes the undeniable symbiosis between various technology sectors. Under Sheeraz’s careful orchestration, Web3 technologies facilitate decentralized collaboration, while AI tools offer enhanced potential for data analytics, content creation, and audience engagement. Additionally, the inclusion of financial innovations ensures rapid mobility of both monetization and investments, providing a holistic environment that meets the ever-evolving demands of the technology and entertainment segments.

Sheeraz’s Hollywood.ai is poised to become the premier hub for industry leaders, developers, and creators to support and empower the next generation of digital experiences. This initiative aspires to drive the emergence of new tools, applications, and services that set new standards for advanced engagement and interaction.

Known for making the impossible possible, Sheeraz envisions a future where global audiences actively participate in designing the next A-list stars from scratch. Hollywood.ai will allow users to watch their creations evolve from simple concepts to 3D talents that can act, sing and perform just like human actors.

The Hollywood.ai platform leverages AI technology to deliver personalized fan engagement, real-time sentiment analysis, and informed content creation. By combining cutting-edge AI capabilities with Sheeraz’s deep understanding of celebrity branding, Hollywood.ai gains immense control over public figures.

Undeniably, FAME’s number one strategist Sheeraz Hasan continues to cement his reputation as a pioneer in the fields of FAME and technology. The power and influence of this latest development brings him closer to total world domination.

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Tech

Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

Futu Securities International, Hong Kong’s largest online broker, has launched retail cryptocurrency trading in the city, offering shares of Alibaba Holding Group AND Nvidia as a reward in an attempt to attract investors. Futu has begun allowing Hong Kong residents to trade Bitcoin and ether, the world’s two largest cryptocurrencies, directly on the brokerage platform using Hong Kong or U.S. dollars, the company announced Thursday.

The online retail broker said last month that it had received an upgrade to its securities license from the Securities and Futures Commission (SFC), allowing Futu to offer virtual asset trading services to both professional and retail clients in the city.

Futu’s move comes as Hong Kong seeks to boost its attractiveness as a business hub for virtual assets, with the city government launching a series of new cryptocurrency policy initiatives over the past two years, including a mandatory licensing regime for cryptocurrency exchanges.

In addition to offering cryptocurrency trading on its flagship brokerage app, Futu is also seeking a cryptocurrency trading license for its new PantherTrade platform. That platform is among 11 in Hong Kong that are currently “deemed licensed” for cryptocurrency trading, an arrangement that allows them to operate in the city while they await full approval from the SFC.

Hong Kong’s progress in becoming a crypto hub has encountered various challenges, including exit of the major global platforms and relatively low trading activity for cryptocurrency exchange-traded funds offered on local stock exchanges.

Futu is now offering a series of incentives to potential investors, amid a cryptocurrency bull market that has seen the price of bitcoin rise 45 percent this year.

Hong Kong investors who open accounts in August and deposit HK$10,000 (US$1,280) over the next 60 days can receive HK$600 worth of bitcoin, a HK$400 supermarket voucher or a single Chinese stock. e-commerce giant Alibaba. Alibaba owns the South China Morning Post.

By holding 80,000 U.S. dollars for the same period, users can get 1,000 Hong Kong dollars in bitcoin or a share of U.S. artificial intelligence (AI) chip maker Nvidia, whose shares have risen more than 140 percent this year.

A Futu representative said the brokerage firm will also waive cryptocurrency trading fees starting Thursday until further notice.

Futu is the first online brokerage in Hong Kong to allow retail investors to buy cryptocurrency directly on its platform. SFC rules require it to offer this service through a tie-up with a licensed cryptocurrency exchange. Futu is partnering with HashKey Exchange, one of only two licensed exchanges in Hong Kong, according to the representative.

Futu’s local rival Tiger Brokers also said in May that it had begun offering cryptocurrency trading services to professional investors on its platform following a license update. The SFC defines professional investors as those with more than HK$8 million in their investment portfolios or corporate entities with assets exceeding HK$40 million.

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Tech

Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

A group of seven megacap tech stocks, often called the Magnificent 7, have lost more than $2.6 trillion in value over the past 20 days, or an average of $125 billion per day over the period. In total, these stocks have lost “three times the value of the entire Brazilian stock market.”

This according to the economic news agency Letter from Kobeissiwho noted on the microblogging platform X (formerly known as Twitter) that the Magnificent 7 batch “is worth as much as Nvidia’s entire current market cap in 20 days,” with Nvidia itself having lost $1 trillion from its high.

Source:Letter from Kobeissi on the X

The group, which includes Nvidia, Microsoft, Amazon, Apple, Alphabet, Meta and Tesla, has undergone a significant correction: in the last 20 days Nvidia has lost 23% of its value, or about $800 billion, while Tesla has fallen 19%, losing $164 billion.

Microsoft, Apple, Amazon, Alphabet and Meta all posted losses of between 9% and 15%, losing between $257 billion and $554 billion in market capitalization, wiping out a total of $200 billion more “than every single German stock market tock combined.”

Tech titans, which have outperformed the broader S&P 500 index since the market bottom of 2022, are now facing a reckoning as investors grow increasingly wary about the sustainability of their meteoric rise, with Nvidia taking the lead soaring 110% since the beginning of the year and over 2,300% in the last five years.

Earnings reports from these companies, starting with Microsoft and culminating with Nvidia in late August, will be closely watched for signs of weakness. Their performance could set the tone for broader market sentiment, with implications for everything from cryptocurrency to other high-risk assets.

Their poor performance comes after a leading macroeconomist, Henrik Zeberg, reiterated his forecast of an impending recession that will be preceded by a final wave in key sectors of the market, but which can potentially be the worst the market has seen since 1929the worst bear market in Wall Street history.

In particular, the Hindenburg Omen, a technical indicator designed to identify potential stock market crashes, began flashing just a month after its previous signal, raising concerns about a possible impending stock market downturn.

The indicator compares the percentage of stocks hitting new 52-week highs and lows to a specific threshold. When the number of stocks hitting both extremes exceeds a certain level, the indicator is said to be triggered, suggesting a greater risk of a crash.

Featured Image via Disinfect.

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Tech

Trump Fights for Cryptocurrency Vote at Bitcoin Conference

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

A large conference hall filled with enthusiastic attendees, Bitcoin logos prominently displayed, and a podium with an American flag

To the Bitcoin Conference 2024 In Nashville, Tennessee, former President Donald Trump delivered a keynote speech.

Trump, the Republican presidential candidate, used the platform to appeal to the tech community and solicit donations for the campaign. During the conference, He said:

I promise the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over… If we don’t embrace cryptocurrency and Bitcoin technology, China will, other countries will. They will dominate, and we can’t let China dominate. They are making too much progress as it is.

Trump’s speech focused heavily on cryptocurrency policy, positioning it as a partisan issue. He said that if reelected, he would fire SEC Chairman Gary Gensler on his first day in office, a statement that drew enthusiastic applause from the audience. This statement marked a stark contrast to Gensler’s tenure, which has been characterized by rigorous oversight of the cryptocurrency industry.

The former president outlined several pro-crypto initiatives he would undertake if elected. These include transforming the United States into a global cryptocurrency hub, keeping all government-held Bitcoin as a “national Bitcoin reserve,” establishing a presidential advisory council on Bitcoin and cryptocurrency, and developing power plants to support cryptocurrency mining, emphasizing the use of fossil fuels.

Trump’s current embrace of cryptocurrencies represents a reversal from his stance in 2021, when described Bitcoin as a “scam against the dollar.” He also noted that his campaign has received $25 million in donations since accepting cryptocurrency payments two months ago.

The event featured other political figures, including Republican Senators Tim Scott and Tommy Tuberville, as well as Democratic Representatives Wiley Nickel and Ro Khanna. Independent presidential candidate Robert F. Kennedy Jr. also spoke at the conference.

Trump’s appearance at Bitcoin 2024 reflects growing support for his campaign from some tech leaders, including Tesla CEO Elon Musk and cryptocurrency entrepreneurs Cameron and Tyler Winklevoss.

While Trump has described the current administration as “anti-crypto,” Democratic Congressman Wiley Nickel said Vice President Kamala Harris is taking a “forward-thinking approach to digital assets and blockchain technology.”

This event underscores the growing political importance of cryptocurrency policy in the upcoming presidential election.

Kamala Harris and Democrats Respond on Cryptocurrencies

In a strategic move to repair strained relations, Vice President Kamala Harris’ team has initiated a dialogue with major cryptocurrency industry players. This outreach aims to restore the Democratic Party’s stance on digital assets and promote a more collaborative approach.

THE Financial Times reports that Harris’s advisors have reached out to representatives from industry leaders like Coinbase, Circle, and Ripple Labs. This move comes as the cryptocurrency community increasingly supports Republican candidate Donald Trump, reflecting growing dissatisfaction with the current administration’s cryptocurrency policies.

THE disclosure follows a letter from Democratic lawmakers and 2024 candidates urging the party to reevaluate its approach to digital assets. Harris’s team stresses that this effort is less about securing campaign contributions and more about engaging in constructive dialogue to develop sensible regulations.

The move is part of a broader strategy to reshape the Democratic Party’s image among business leaders, countering perceptions of an anti-business stance. Harris’ campaign aims to project a “pro-business, responsible business” message.

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