Australia has taken a huge step in cementing its leading position in cryptocurrencies and blockchain technology. Their latest foray into the crypto-verse will be to found the first Australian Cryptocurrency Bank. Fred Schebesta is the driving creative force behind this multi-billion dollar project. He pledges to have it finished in 18 months or less.
Schebesta is convinced after the adoption of the digital assets becomes commonplace, there will be huge demand for many crypto-services. This includes custodianship, cold storage, spending, exchange, and even lending. He anticipates that this all will show high and growing demand in the future. Schebesta’s company, Finder, ranks among the foremost comparison sites for a vast network of insurers, banks, and product makers. In September of 2017, the company initiated its coverage of digital assets like BTC, ETH, and also other altcoins.
Australia To Become Among the First Nations to Fully Adopt Digital Assets
Australia is well on its way to becoming among the first nations to embrace public sphere digital asset adoption. The Queensland provincial government just revealed a new plan to fold both Bitcoin and many altcoins into the public system. This also means that the taxman is catching up to the cryptocurrencies as well. The Australian Tax Office will now levy taxes on digital asset holders.
NEM, the internationally known cryptocurrency and blockchain company, started up two NEM blockchain hubs in Australia recently. Their goal is to increase the blockchain and educational knowledge base “down under.” Other reports hint that Huboi will launch its cryptocurrency exchange platform within Australia as well.
European Nations Similarly Embracing Digital Assets and Blockchain Tech
Additionally, it is not only Australia taking a proverbial leap into cryptocurrencies’ and blockchain adoption either. Europe, Malta, Switzerland, and Estonia have all wrapped their national arms around the digital asset and blockchain space. Malta in particular has hugely accepted the cryptocurrencies and blockchain tech. They welcomed Binance the world’s largest cyptocurrency exchange as it began moving its headquarters to the island in July. They have also widely adopted blockchain in applications ranging from their public transport operations to national education standards.
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