Moldova Aims to Leverage Blockchain for Economic Growth

Moldova, Europe’s poorest country, is now headed to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term blockchain technology to uplift the country from its recent misery. A group of local tech enthusiasts has launched the Digital & Distributed Technology Moldova Association (DTMA) to implement Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology in different sectors to get global exposure.

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The group has received huge support from the international community, as the advisors conducted workshops and presentations to study various use cases to help with the implementation.

The core objectives of the association are to introduce international projects to Moldova, and to leverage the country’s most valuable and under-utilized human resources. They aim to use the country's workforce as a test bed for multiple international projects.

The DTMA is currently working on a series of projects which it hopes will contribute significantly to the country’s economy.

It recently launched its own version of Dash for self governance and treasury use as an option for students and academics to apply for small grants to explore blockchain initiatives.

The association is also set to launch the country’s first crypto exchange with eight fiat trading options this month. The DTMA is in discussion with the authorities to establish a tech zone within the free economic zones with tax breaks for blockchain projects. This has the potential to attract a huge international tech crowd to the country.

Currently, the DTMA is also running due diligence with local private companies to explore the viability of creating a European innovation hub, imitating Level 39 at Canary Wharf in London. This proposal could enable Moldova to become a link between CIS and EU countries.

Moldova is not the first Eastern European country trying to leverage the booming blockchain ecosystem and crypto economy. Recently Belarus, another former Soviet state, not only legalized Bitcoin but also announced tax exemptions for crypto miners.

In mid-November, news surfaced that Moldova's authorities are trying to fight child trafficking using blockchain technology.