Lithuania Has Gone Full Blockchain!

bullishmoney (63)in #blockchain • 8 years ago (edited)

For those of you who are seeking #bitcoin and #blockchain friendly locales -- perhaps to run a blockchain related #business -- you should add Lithuania to your short list.

I've done considerable work for blockchain projects that have a heavy presence in Lithuania, and if you don't know much about this Baltic nation, I think you'll be surprised at just how #cryptocurrency friendly they are.

First, according to Coin.dance, the Lithuanian government has fully legalized bitcoin investing and transactions, and they also consider it to be a currency. In contrast, the U.S. government considers bitcoin to be "property" for tax purposes, but the SEC wants it classified as a security -- this is going to be a legal cluster-f--k eventually.

Lithuania has no such problems because they embrace innovation!

This nation runs a considerable number of Bitcoin nodes relative to the size of their population. That means the overall #crypto education is exceptionally high.

Moreover, several Lithuanian government officials actively endorse blockchain technologies and cryptocurrency assets, which they believe will foster more business growth.

I believe that Lithuania recognizes bitcoin and the blockchain as a game leveler -- since bitcoin isn't a centralized monetary system like the US dollar, they stand a better chance of improving their economic standing through meritocracy, not manipulation!