Moldova Aims To Use Blockchain For Economic Growth

Updated On Jan 3, 2018 by Cameron Bishop

Crypto currency experts and technical enthusiasts of Moldova, the former Soviet nation, have launched the Digital & Distributed Technology Moldova Association (DTMA) to implement block chain technology in various sectors and gain international recognition.

The main objectives of the association is to attract a variety of international projects to Moldova and leverage the country’s under-utilized human resources. In this regard, the DTMA recently launched its own version of DASH for self governance and treasury use. Using the coin, students and academics of Moldova can apply for grants to explore block chain initiatives.

Later this month, the association will be launching its first crypto exchange, which will list eight digital currencies to begin with. The DTMA is also negotiating with authorities to establish a tech zone, inside the free economic zones, with tax breaks for block chain projects. That would certainly draw international investors in a big manner to Moldova, the poorest country in Europe.

In mid-November, Reuters reported that Moldova authorities are trying to fight child trafficking using block chain technology. The DTMA is also studying the viability of establishing a European innovation hub that will imitate Level 39 at Canary Wharf in London. That may enable Moldova become a major link between the CIS and EU countries.

Through the measures discussed above, DTMA hopes to contribute to Moldova’s economy and decrease poverty. The efforts have already received support from the international community. Notably, Belarus has already legalized Bitcoin, while announcing a five year tax break for crypto currency related projects.

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