Everyone is looking at El Salvador to be “the home” of Bitcoin,
It is the hype making people think like that. The real home of bitcoin is in the heart of the people who use it, not a country. Decentralized is the key word here.
Singapore has made a lot of effort on the technological sector. It cannot be said of El Salvador.
Japan has the biggest technologically advanced society out there. So why not Japan? In fact the use of bitcoin in japan has increased much in the recent years and I remember a couple of news that came in 2017 which I will link here:
https://www.cnbc.com/2017/04/12/bitcoin-price-rises-japan-russia-regulation.htmlhttps://www.cnbc.com/2017/09/29/bitcoin-exchanges-officially-recognized-by-japan.htmlSingapore has clean governance, and almost zero corruption. El Salvador’s government structure might be corrupt everywhere from the bottom to the top.
None of that helps unless the governments are willing to allow cryptocurrencies to be used legally or at least with less problems of the "grey area". I know the combo of a corrupt government and crypto is a bad idea but I feel we are lacking information to comment more on this.
Singapore’s banking industry is what made the country develop into one of the richest countries in the world. It can further develop by embracing the Bitcoin industry.
The skeptic would say that if the fact that banking sector has its roots close, would mean bitcoin would get any space there. But practically banks can also use blockchain to deliver services and store information at the same time not allowing governments to accept crypto.