Does bitcoin have a chance to become a model of economic freedom in various parts of the globe?
Some countries, like India, talk about the caution of using bitcoin inside their own country.
Nevertheless, even where the “draconian” measures are being prepared in relation to the crypto currency, they are not going to destroy the new economic phenomenon of the modern world.
Let’s make everyone afraid?
Chinese officials, most likely, most of all overdo it in prohibitions.
The main point of the decision of the authorities is the ban of the ICO during 2018.
Without exaggeration, we can say that this information sharply shook the crypto-currency market. To be more precise, it keeps in fear those who have already planned ICO this year.
Even the mass media contributed to the turmoil.
Suffice it to say that the first news about the ban was massively distributed not only through official news agencies, but also through social networks.
Many owners of the bitcoins began to massively “dump” assets, and it is necessary to say a massive attack from state structures, it gives fruit to limit actions in this area.
But, whether it is necessary so urgently to refuse the altkoins , after all, some laws, even in those countries where regulation is still established, recognize the actual existence of the crypto currency as a separate economic element of the financial world.
Author # Budget2018:
“It’s totally wrong to consider bitcoin illegal. Correctly it is necessary to interpret that bitcoin can not be used as a legal payment, but it just as can not be used as illegal activity. “
Who officially banned the crypto currency in the world
Now let’s see who all the same officially banned the circulation of crypto currency on the globe.
Earlier this year, we celebrated the 9th anniversary of Bitcoin, which seems to be a small age, but you can already see that it is officially banned in some countries: Bolivia, Ecuador, Algeria, Kyrgyzstan, Afghanistan, Macedonia, Morocco, Bangladesh and even the island nation in the Oceania of Vanuatu. These countries have officially banned the circulation of crypto-currency within their borders.
If we pay attention to the list of countries where bitcoin is banned, then we can see that in most of them there is no economic freedom.
At the same time, there are countries with good economic freedom, but the ban is rigorous.
For example, Ecuador decided to ban bitcoin just because it wants to protect its national crypto currency.
Morocco has always been aggressively inclined to any novelties of the economy, and here bitkoinu put a severe barrier.
Along with this, many citizens of the country learned to bypass local bans on the use of crypto currency and actively use a peer-to-peer network.
Almost all citizens of the country use BitTorrent, rather than sanctioned Fiat Centers, which are specified in the decrees of the Moroccan government.
We compose the Bitcoin freedom index
Niskanen Center has developed an index of free application of bitcoin in all countries of the world .
If you look at the map and general data, you can see that the index of free application of bitcoin is directly related to the index of economic freedom in each of the countries.
“The index is determined on the basis of personal choice, does not take into account the collective factor. Here, the important components of the index are the coordination of the existing market, rather than political processes within the country. Economic freedom is an important indicator of the use of the index for bitcoin in every country. “
Where there is money, you can always use your economic resource of freedom and control your own funds! – sounds very familiar.
Niskanen Center developed the rank of the bitcoin freedom index , taking into account the current situation in 157 countries of the world, and the rank table looks like this:
- South Korea-40.
At the same time, most countries that are friendly to the crypto currency have such indicators of rank rank in the global list:
- Hong Kong-1;
- Japan – 26.
Based on the available data, the ranking index for Switzerland, Denmark, Hong Kong and the UK will be in the first positions.
While Afghanistan, Ecuador and Bolivia are on the very last lines of the index-table of freedom of bitcoin.