Singapore and Hong Kong lead the way in blockchain development
A study by ApeX Protocol has ranked the top jurisdictions for Blockchain technology, with Singapore taking the lead globally.
The rankings, based on blockchain patents, industry jobs, and the number of crypto exchanges, show that Singapore outperforms other regions with a composite score of 85.4.
With just under 6 million people, Singapore hosts 1,600 blockchain patents, 2,433 related jobs, and 81 crypto exchanges, highlighting its significant role in the blockchain space.
Hong Kong, a Chinese Special Administrative Region, ranked second with a composite score of 82.7.
The city’s robust financial infrastructure has facilitated the integration of blockchain technology and exchanges.
Estonia, despite its small population of 1.4 million, placed third with a score of 81.5, thanks to 95 blockchain patents and 52 crypto exchanges.
Other notable countries include Switzerland, the United States, Canada, Australia, South Korea, the United Kingdom, and the United Arab Emirates.
The United States, despite facing regulatory challenges, still holds a dominant position in the blockchain space, leading in key metrics with 32,000 blockchain patents, over 17,000 jobs, and 166 crypto exchanges.
In recent remarks, Arkansas Representative French Hill pointed out the negative effects of Operation Chokepoint 2.0, a government initiative that targeted the crypto industry.
However, Hill expressed optimism about the future of US blockchain development.
He aims to introduce a crypto market structure bill within the first 100 days of the new legislative session.
President-elect Donald Trump’s appointment of pro-crypto Paul Atkins as the SEC chair, along with the establishment of a new role for AI and crypto policy adviser, further signals strong support for the blockchain industry in the US.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum's net supply increased by 11,849 in the past 7 days
Economist: U.S. unemployment rate could reach 4.4% or higher by the end of 2025
Kyrgyzstan's crypto mining tax revenue to drop 50% in 2024
Vitalik Buterin adopts meme hippo Moo Deng with 10 million baht