Does Blockchain Development in Asia Require More Time?

Does Blockchain Development in Asia Require More Time?

Blockchain and cryptocurrencies have taken the world into a new stage of communication and information. If until today, social networks have been one of the most amazing technologies that the world had experienced, from now on we should see the role that Blockchain and its belongings will play. Given the cryptocurrencies and the possibility of exchanging them on the Blockchain network which is a decentralized system and has no middleman involved, ordinary people who do not have the budget and assets of large investors and prominent businessmen can also simply engage in trades and gain assets such as Bitcoin. However, has the growth and development of cryptocurrencies and Blockchain in all parts of the world been in the same way? What is this process like in Asia?

How Is the Growth and Acceptance of Blockchain and Cryptocurrencies in Asia?

Countries in the world have different approaches when it comes to using Blockchain and cryptocurrencies. The same story is true for Asia, but the variety of views and the measures that have been taken in this field are more varied compared to other parts of the world. Some Asian countries have completely banned cryptocurrencies and have not given permission for their legal activity. Some other countries such as China, sometimes show favor toward them and some other time not so much. South Korea is precisely analyzing the cryptocurrency markets and Blockchain networks in order to organize proper measures and stances in the future.

Different financial and economic institutes and academic and research centers are analyzing and evaluating the capacities of new technologies. Thailand and the Philippines also want to evaluate and observe the capacities and opportunities of these new infrastructures. In the Middle Eastern countries, the talk of cryptocurrencies has no place among Arabs. These countries that are under political pressure and are engaged in different wars, seemingly, do not have the opportunity for addressing matters such as cryptocurrencies and Blockchain.

Will Blockchain Be an Infrastructure for Political Revolutions?

New technologies with all the amazing capacities that have with them, also create some problems that if go unaddressed, not only will there be no development, but also they will lead to some serious problems. For example, it is estimated that in the Southeast of Asia, in the next 12 years, the distance between skill and the expertise of the workforce that are supposed to work with technologies that are implemented by different companies and organizations will soar and the lack of workforce will reach about 1.2 million people.

The need for expert programmers and technicians in this field and skilled people who have a good command on the Blockchain space and the need for the workforce in the field of artificial intelligence and virtual reality tools are exponentially growing in Asia. Even in a country such as Singapore, which is considered to be one of the technological poles in the world, this issue can be seen.

It seems that Asian countries desperately need to train the workforce in the field of new technologies such Blockchain. This can turn the mentioned countries into great destinations for people who have enough expertise in these fields. The acceptance of these people as migrants will happen properly, and satisfying positions are awaiting them in Asian countries.