BITCOIN ADOPTION AND BANNED COUNTRIES: ROLE OF CENTRAL BANKS, ON IT'S ADOPTION.

As made known to us by, "https://news.bitcoin.com/worlds-top-10-bitcoin-friendly-countries/" the following countries have already adopted Bitcoin or favours the adoption of Cryptocurrencies which Bitcoin is the giant

× ESTONIA

× THE UNITED STATES

× DENMARK

× SWEDEN

× SOUTH KOREA

× THE NETHERLANDS

× FINLAND

× CANADA

× UK

× AUSTRALIA

× CHINA (recently, secretly considering it's adoption).

A digital fiat currency—one backed by the central bank and with the same legal status as a banknote—would lower the cost of financial transactions, thereby helping to make financial services more widely available. This could be especially significant in China, where millions of people still lack access to conventional banks. A digital currency should also be cheaper to operate, and ought to reduce fraud and counterfeiting.

Even more significantly, a digital currency would give the residual government greater oversight of digital transactions, which are already booming. And by making transactions more traceable, this could also help reduce corruption, which is a key government priority.
Such a currency could even offer real-time economic insights, which would be enormously valuable to policymakers.

And finally, it might facilitate cross-border transactions, as well as the use of the renminbi outside of China for instance, because the currency would be so easy to obtain

COUNTRIES THAT BANNED BITCOIN

× BANGLADESH

× BOLIVIA

× CHINA

× ECUADOR

× ICELAND

× INDIA (Secretly considering it's adoption).

× RUSSIA

× THAILAND

× VIETNAM

Blockchain technology undermines the 'middle-man' business model. It makes it harder to cheat in transactions, and so reduces the value of credibility lent by trusted intermediaries. It is less important that counterparties may not know and trust each other. A lack of trust becomes less of an impediment to trade.

This opens up new possibilities for financial market participants. Getting rid of middle-men saves cost, speeds clearing and settlement (possibly easing capital requirements), and reduces operational risks. It can also help to implement tailor-made transaction protocols, or to keep transaction details confidential while at the same time providing records for supervisors. Maybe most importantly, it improves the bargaining power of buyers and sellers when they deal with brokers. If you are in the intermediation business, this is worrying.