Crypto race is on: What country will join soon?

Blockchain and cryptos have become one of the most discussed issues among companies and entrepreneurs representing various kinds of activities. Although there is a great number of supporters and opponents of digital currencies, many regulators around the world have understood that it’s impossible to stop technological progress, and there is much to be gained from allowing businesses to transact in cryptocurrencies and set up blockchain-based entities.

While some countries (e.g. Bangladesh, China, and South Korea) ban cryptos, ICOs, and crypto exchanges due to high financial risks for people, the others have chosen a more crypto-friendly approach and are going to build real crypto nations.

When China prohibited the local crypto exchanges to operate in September 2017, they had to move to the countries welcoming cryptocurrencies. For example, in March 2018 Binance, the largest crypto exchange in the world, announced that it would set up its operational base in Malta. This country has recognized the great opportunities that cryptos offer and is now working on progressive crypto regulation. Binance is not the only big player that has chosen Malta. Another largest crypto exchange, OKEx, also announced that it would transfer to this small country and named its government “forward-thinking.” Besides the above-mentioned entities, TRON, Coinvest, and Monaco Card will start their operation in Malta, too.

Switzerland, known as a pro-crypto country, has recognized Bitcoin as a legal payment instrument. This country intends to become the global crypto haven in several years. Accountancy firm PricewaterhouseCoopers (known as PwC) included Switzerland in the top-3 destinations for crypto startups and ICO projects in last December. The Swiss Zug hosts the Crypto Valley Association, whose main objective is to build the world-beating ecosystem for blockchain technologies. Hundreds of fintech and blockchain startups including Ethereum, ShapeShift, Xapo, Status, Cosmos Network, Tezos Foundation, and many others are registered in the Crypto Valley.

Singapore is Switzerland’s neighbor in the PwC’s list of the top crypto-friendliest states. This Asian country is an outright supporter of cryptos and blockchain projects and, therefore, is a popular jurisdiction for cryptocurrency companies along with Switzerland. The nation and regulators welcome innovation activities. They even established the FinTech Regulatory Sandbox that allows companies to conduct business for six months without any special licenses.

Don’t forget about Estonia. This Baltic state was the first country in the world that implemented “e-residency.” The Estonian parliament introduced amendments to the anti-money laundering law regarding crypto wallets and cryptos themselves and proposed to issue its own token called Estcoin. The government plans to continue to popularize cryptos and facilitate the development in this field. Will this small country manage to build the first crypto nation? Let’s wait and see.

Meanwhile, crypto boom continues capturing the world. Recently Argentinian Banco Masventas (BMV) has announced its partnership with a Latin American exchange Bitex. It means that the bank’s clients will be able to use Bitcoin to make international payments. This blockchain-based financial services provider will reduce the money transfer process and offer more secure transactions.

The Russian authorities are also making their first steps towards the crypto regulation. The Russian State Duma has approved the first reading of the new law that will regulate the creation, issue, storage, and circulation of digital financial assets as well as the exercise of rights and execution of obligations under smart-contracts. As far back as 2017, the government of this country considered cryptos as a bubble or a financial pyramid. As we see, the Russian attitude towards digital currencies and blockchain technology gradually changed. We cannot put this country in the list of crypto enthusiasts for the time being, but we see that more and more countries cannot stay away from the progress.

While some states are just determining how to treat cryptos while others are successfully integrating them into their daily operations, the Noah team is working hard on the projects designed specifically for crypto evangelists, token holders, traders, and other interested people who want to open a new crypto world for themselves. We are going to build the first crypto powered city in the Philippines. Since there are a very few places in the world where people can use their coins and take full advantage of opportunities cutting-edge technologies and cryptos provide, the Noah City will become a shelter for them.

The Noah ecosystem will have its own token called Noah Coin.

The Noah Coin holders will be able to use their tokens for different services and goods in the Noah City, and, in return, they will be given a great number of discounts, cash-backs, special privileges, and loyalty programs. The Noah City will be a part of Horizon Manila — a large-scale reclamation project on the coast of Manila Bay that is expected to become the largest Central Business District in the Philippines.

In addition to the information stated above, the Noah Coin owners will get an exclusive access to Noah Resort located in Zamboanga del Norte, the Philippines. Noah Resort will be a part of Dakak Beach Resort — famous for its wonderful long white sandy beaches, green parks, and a wide range of services for all tastes. The number one choice if you want to rest from the noise of city vanity.

We hope that our team will be able to create a real crypto paradise and our work will be appreciated by crypto devotees. We see that more and more countries are joining the race. What country will be the next?

If you are interested in the Noah Project and want to know more about it, welcome to our Telegram chat, Facebook, and Twitter.