New report on the state of the blockchain industry in Europe, how is the Czech Republic doing?

The EU Blockchain Observatory and Forum (EUBOF) has just published a detailed updated report on the current state of the blockchain ecosystem in Europe. 

The updated study adds new countries, including the Czech Republic, and outlines new developments related to blockchain and cryptocurrency across Europe over the past 2 years.

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Current information on the development of blockchain technology in Europe

EUBOF aims to accelerate blockchain innovation and the development of the blockchain ecosystem within the EU, helping to solidify Europe’s position as a global leader in this innovative new technology. In addition to EUBOF partners, the report also featured prominent contributors and interviewees, such as the Vice-President of the European Parliament, MEP Eva Kaili.

The report analyses the steps forward from both a regulatory and normative perspective, as well as the adoption of blockchain technology in Europe in recent months. According to the report, the European leaders are Cyprus, France, Malta, Estonia, Switzerland and the United Kingdom, which combine mature business ecosystems with clear regulatory frameworks.

“A total of six countries were found to have improved the maturity level of their ecosystems (Belgium, Slovakia, Finland, France) or their regulatory environment (Bulgaria, UK), with the UK and France moving into the top tier of leading European blockchain countries, joining Cyprus, Estonia, Malta and Switzerland.”

Czech Republic

The Czech Republic has been called one of the pioneers in this type of activity. There are dozens of blockchain companies operating in the Czech Republic. It is an incubator for blockchain innovation FinTech startups.

Prague gained publicity in 2018 thanks to its high crypto-friendliness ratings from FortuneJack and Cointelegraph reports. The Czech capital has 300 locations, including bars, restaurants, hotels, and cinemas, that now accept Bitcoin as a payment method.

The Czech Republic has taken steps to regulate cryptocurrencies. A law was passed in January 2017, limiting the anonymity of transactions. Currently, cryptocurrency exchanges and other currency exchange services are required to verify their customers.

The Czech Republic is also an important center for conferences and meetings with leading blockchain specialists and technology enthusiasts abroad.

1,424 startups were founded, with 38 of them related to blockchain, with funding of €1.45 million.

Several companies were singled out in the report.

Slushpool: Bitcoin mining pool operating since December 2010.
SatoshiLabs: Provides a hardware wallet for Trezor cryptocurrencies.
BrikkApp: A decentralized crowdfunding real estate marketplace built on Hyperledger.
Kira Core: A company that is building a complete DeFi ecosystem.
Saif: App-based cryptocurrency wallet.
Simple Coin: Digital asset exchange platform.
True Gym: A decentralized platform for the fitness industry. Users are rewarded with True Gym Coin for
sharing training data with the network.

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