A very interesting article was published by The World Economic Forum on the State of the World 2016. We can relate some of these charts to Bitcoin and the blockchain technology.
ENABLING TRADE ACROSS BORDERS – Singapore, the Netherlands and Hong Kong (China) are embracing bitcoin for over-boarder payments. Bitcoin is a border-less payment system and value be transferred from country to country in a matter of minutes, irrelevant of the value transferred, and at minimal cost vs the traditional method of payment system. Normally it would take up to 7 days to transfer currency internationally plus costs associated with the exchange of currency if required. Time is money.
MOST COMPETITVE GLOBAL ECONOMIES – Switzerland’s Bitcoin adoption is very progressive. From enabling Bitcoin payments for municipal services to selling Bitcoin at all railway stations and initiating Cryptovalley in Zug. Investors are able to invest in Bitcoins on the SIX Swiss Exchange – Vontobel is the first Swiss issuer to offer a bitcoin tracker certificate for subscription.
THE FASTEST RISER – India is in the spotlight for various reasons. Firstly India is on a economic growth path as shown in the chart below, and secondly, due to the demonetization that took place from November 2016.
India is heading towards the digital economy at a rate of knots after removing 86% of it’s paper currency, the 500 and 1000 rupee note. Bitcoin prices and traded volume is surging ahead as more Indians adopt Bitcoin as an alternative form of currency.
In the meantime, Reliance Jio owned by India’s richest man Mukesh Ambani, has enabled 4G coverage in 18,000 cities in the country, and over 200,000 remote areas in India. Cell phone coverage means Bitcoin access.
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