Why blockchain technology matters 12 May 22 Andre Moura Gomes

Blockchain has been transforming the way businesses and consumers transact, with the emergence of new business models and significant impacts on the world economy.

A new Global Trends report briefly discusses how countries around the world have been adopting, over the past few years, new policies and rules on the use of this technology.

For example, the European Commission put forward a major strategy since 2018 to foster adoption of blockchain across a range of industries. National policies to promote adoption of blockchain technology also emerged in Australia, Germany, India, Portugal, and in the United Arab Emirates (UAE).

Other countries that have acknowledged the relevance of blockchain technology and crypto assets include El Salvador, which adopted Bitcoin as legal tender. The Central African Republic recently recognised other crypto assets as legal tender too.

China is a noteworthy exception, since it completely banned crypto asset services. However, the country is very advanced in the development of a central bank digital currency, which is based on blockchain technology.

For more information and to access the full report, please click on “Access the full content” - or on “Request Access”, in case you are not subscribed to the Global Trends service.



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