According to the latest ApeX Protocol study, Singapore tops the global rankings as a leader in blockchain technology and cryptocurrencies, scoring highest in adoption, infrastructure development and workforce expansion.
What is the meaning: The news highlights how strategic investments in blockchain infrastructure and talent can serve as a model for the Philippines and its web3 communities with the goal of driving innovation and adoption globally.
Key details: The study, carried out by ApeX, a decentralized and non-custodial derivatives protocol, is a comprehensive analysis of the adoption and development of blockchain and cryptocurrency technology around the world.
- The study calculates a composite score for each country evaluating its performance in patents, jobs and blockchain exchanges, with metrics weighted to reflect their importance.
- Scores are scaled to range from 1 to 100 for ease of comparison.
Criteria:
- Blockchain patents
- Measures innovation and technological advancement in blockchain solutions.
- Includes the number of patents filed and granted in the respective country.
- Jobs in Blockchain technologies
- It reflects the growth of the country’s workforce and the demand for blockchain professionals.
- It includes positions such as blockchain developers, researchers and other roles in the sector.
- Crypto Exchanges Based in the Country
- Evaluates market accessibility and crypto infrastructure development.
- Includes the total number of cryptocurrency exchanges operating within the country.
Top 10 leading countries in cryptocurrency and blockchain adoption
- Singapore: Standed out as the global center for blockchain innovation, excelling in both adoption and infrastructure development.
- Hong Kong: seamless integration of blockchain into its financial ecosystem.
- Estonia: Despite being the smallest country in terms of population, it stands out in blockchain development and accessibility.
- Switzerland: leader in decentralized finance, driven by its strong financial ecosystem.
- United States: World leader in blockchain research, innovation and job creation.
- Canada: Known for its balanced approach to innovation and accessibility.
- Australia: Strong focus on technological advancement with 1,400 blockchain patents.
- South Korea: Excels in patent activity with 18,000 blockchain patents, second only to the US.
- United Kingdom: Accessible cryptocurrency market with 95 cryptocurrency exchanges.
- United Arab Emirates: Emerging blockchain hub with 340 blockchain patents and a budding ecosystem of 414 jobs.
| Country | Blockchain Patents | Jobs related to Blockchain Technologies | Country Based Crypto Exchanges | Composite score |
| Singapore | 1,600 | 2,433 | 81 | 85.4 |
| Hong Kong | 890 | 1,163 | 52 | 82.7 |
| Estonia | 95 | 149 | 52 | 81.5 |
| Swiss | 920 | 440 | 32 | 80.2 |
| USA | 32,000 | 17,154 | 166 | 79.8 |
| Canada | 1,200 | 1,211 | 32 | 77.3 |
| Australia | 1,400 | 573 | 31 | 76.8 |
| South Korea | 18,000 | 121 | 29 | 75.4 |
| United Kingdom | 2,800 | 2,673 | 95 | 74.9 |
| United Arab Emirates | 340 | 414 | 9 | 73.2 |
Key quote:
“Blockchain technology is no longer just a niche innovation; has become a cornerstone for digital transformation across industries. Leading countries in this space are not only embracing the technology but are actively shaping their future. What stands out is how diverse approaches – whether through regulatory clarity, investing in talent or fostering innovation – are paving the way for global adoption. “This reflects a broader shift towards decentralization and transparency, which are becoming essential in today’s interconnected economy.”
Apex Protocol
worth reading: In the Philippines, the Land Transportation Office (LTO) is exploring blockchain integration, following discussions with BayaniChain and Western Pacific, to improve transparency, efficiency and security in its services as part of its broader transformation efforts digital.
This article is published in BitPinas: Top 10 Countries: Singapore Leads Blockchain Ranking
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