United States and Switzerland have been seen to be more crypto-friendly, it is important to assess the level of regulatory support for the industry in each hub. To do this, we looked at the Blockchain Regulations Database created by the Cambridge Center for Alternative Finance.
Crypto Attitudes The level of popular support for cryptocurrencies can play a big role in the growth of a crypto hub. To assess this, we looked at data from the Global Blockchain Survey conducted by Deloitte in 2019, which measures consumer and executive attitudes towards blockchain technology.
Base EnablersA strong base of infrastructure and talent is necessary for a crypto hub to thrive. The following three indicators are key base enablers:
Internet Speeds Fast internet speeds are crucial for easy access to the blockchain and crypto-related technologies. We used data from Speedtest.net to measure speeds in each hub.
Number of Crypto ATMs Crypto ATMs provide easy access to buying and selling cryptocurrencies. To assess this indicator, we used data from Coin ATM Radar.
Number of Blockchain Startups A thriving startup ecosystem can bring innovation and talent to a crypto hub. We used data from Crunchbase to identify blockchain startups in each hub.
Crypto Network & OpportunitiesConnections to other crypto hubs and the presence of crypto-related events and meetups can highlight opportunities for collaboration and growth. The following three indicators were used:
Number of Crypto Conferences We used data from CoinMarketCap to identify the number of crypto conferences held in each hub.
Number of Crypto Meetups Meetups provide opportunities for crypto enthusiasts to exchange knowledge and network. We used data from Meetup.com to identify the number of crypto-related meetups in each hub.
Inbound Crypto Transactions Finally, we analyzed the number of inbound transactions sent to each hub from January to July 2020, using data from Chainalysis.
Overall, these eight indicators provided a comprehensive view of the crypto ecosystem in each hub. By analyzing data from a wide range of sources, we were able to provide a well-rounded perspective on which cities, states, and countries were leading the way in the crypto industry.