While the larger nations of the world demand the regulation of cryptocurrencies, the financial market that has gotten them all to scratch their heads at its sudden outbreak, it seems that the smaller states would actually like to benefit from what cryptocurrencies have to offer.
After the rebellious micronation of Liberland that is asking for cryptocurrency donations to fuel its operations, the less conflictive principality of Liechtenstein, a European country with a small area of 160 km², might see its royal family invest in the digital assets very soon.
The crown prince of Liechtenstein and his plan to invest in cryptocurrencies
Speaking to CNBC, the Crown Prince of Liechtenstein shared his intention to invest in blockchain and cryptocurrencies in order to leverage the technology which looks like will be defining the future of everyday operations as well as financial transactions.
The comments from Crown Prince Alois are of significance, because while the territory that holds around 40,000 people as its citizens is officially led by his father, it’s Prince Alois who essentially leads the matters of the land.
Elaborating on his plan to invest in cryptocurrencies, the Prince mentioned that after a decades’ long struggle to reestablish the family fortune, that had been lost as a repercussion to World War II, the Royal Family of Liechtenstein is now looking towards investing in new assets, and cryptocurrencies with their ever growing popularity and the promise that they hold as the investments of the future, could very well be one of them.
However, the Prince is not blindly trusting cryptocurrencies either. To establish that he was not just jumping on the crypto bandwagon without thinking about the effects of his potential action, he stated that he is aware about cryptocurrencies being a risky investment, which is why it is still just a consideration with a possibility to evolve into something more in the future.
Blockchain could be a sure fire investment by the royal family of Liechtenstein
Similar to almost all government leaders across the world, Crown Prince Alois spoke positively of blockchain technology and the potential benefits that it holds.
“Blockchain will change a lot of things, it could even help make our state more efficient the way it is administered.” He stated.
His comments remain in line with almost all other countries and their officials, as even the ones that hold a stern stance against cryptocurrencies take their time to acknowledge blockchain as a beneficial technology and what it could offer in the future in terms of improvement and efficiency for everyday processes.
For instance, China, which has gradually established a reputation for being anti-cryptocurrency as of late, has been involved in studying and researching blockchain technology, and is currently a part of the initiative TC 307 by the International Organization for Standardization (ISO), which centers on the standardization of blockchain and distributed ledger technology (DLT).