The Emirates will Recognize Crypto Currencies as a Legal Payment Method, won’t they?
Japan has become the first in the world to recognize officially crypto currencies at the legislative level. In April this year, the government adopted a law on virtual currencies awarding bitcoins and other crypto-currencies the status of a payment method. In the days and weeks that followed, the major national industries have introduced Bitcoin as a payment method. Increasingly, at the time of the conference, over 300,000 stores in Japan will accept bitcoin payments adding billions to the national economy.
As a result, other governments have taken similar steps in this direction. Estonia, South Korea, Russia, Denmark and Canada are looking into ways of encouraging the adoption of Bitcoin on national and international levels.
Today, we also observe interest in crypto currencies in the Arab world. Being a source of emerging talents and companies, the UAE and the Middle East are sizing up an opportunity to adopt Bitcoin and Blockchain technologies. This opportunity lies not only in directly benefiting from increasing the size of the national economy but also in becoming a global leader in the industry with Blockchain and cryptocurrency friendly models and frameworks.
For the second year in a row, the crypto currencies as a legal payment method around the globe is among key talking points at the Blockchain Conference Abu Dhabi. In 2017, Jörg von Minckwitz will speak at the conference discussing Japan’s adoption of Bitcoin and telling why the next country to do so will grow its economy. He will speak about the benefits reaped from such a move, and explain how the booming and disruptive crypto currency market can work with traditional banking for the benefit of governments and companies.
Jörg von Minckwitz is the CEO and co-founder of Bitwala – Europe’s leading crypto to local currency transfer service. Jörg’s role is to envision the new possibilities that Blockchain technology offers and to utilize it by developing new services for the financial sector. Jörg has over 6 years of experience in Blockchain and Cryptocurrency sectors. Prior to Bitwala, he founded Europe’s first Crypto Consulting, Crypto Incubator and first Crypto E-commerce shop. His work has been recognized and awarded with prizes by, among others, ICT Spring, Pioneers Festival and The German Innovation Prize. Previously, he spoke at Money 20/20, Paris Fintech Forum and Distribute Blockchain Conference.
Source : bconference.org