When people think about blockchain technology or international tech hubs, Silicon Valley in the US and tech power players across Asia like Singapore often come to mind first, with the integral part European nations play on the global playing field often understated.
A recent study by Ipsos showed that Europeans were more optimistic about the future of crypto than both Australia and the US. Where China has taken a strict stance with an all-out ban on ICOs, and the Securities Exchange Commission (SEC) indirectly creating a restrictive atmosphere in the US, the European Union (EU) has gone against the grain by establishing the bloc as a hub for blockchain innovation.
Emulating this positive cultural attitude towards blockchain technology, as a governing body, the EU has taken various measures to ensure that nation states are not left behind, with plans to cultivate blockchain education and skills development.
There is a reason why industry leaders across the globe are deciding to set up shop and incorporate companies in Switzerland’s well known Crypto Valley, as well as in the likes of the UK, Estonia, and Denmark. Regulation is a prominent factor in attracting these companies to Europe as opposed to other parts of the world. Having support from governments, and progressive legislation, play a significant role in helping companies in the blockchain space thrive.
Recognising the capabilities of blockchain, European Commission (EC) Vice President Andrus Ansip named blockchain as one area “where Europe is best positioned to play a leading role”. Ansip is just one of many political leaders vying for Europe to excel in the blockchain evolution. It’s not just all political talk either — Europe is taking action. The Commission has been funding projects long before crypto surfaced in the mainstream media, supporting development in the space for the past five
