Berlin: New Hotspot For Cryptocurrency-Berlin has appeared to be the hub for cryptocurrencies and blockchain over a couple of years. Germany’s biggest city has always been at the heart of many crypto investors and enthusiasts for digital currencies such as Bitcoin, Ethereum etc.
In 2013, the Guardian revealed that there were several enthusiasts in Kreuzberg (a southern region of Berlin). Therefore using Bitcoin in numerous local shops where the virtual cash is accepted.
After five years, Berlin has become a leader across Europe and the world at large in the realms of blockchain technology and cryptocurrency. Similarly, a large number of developers, entrepreneurs, organizations and other individuals are now considering a move to the German capital.
Recently Deutsche Welle reported that the city has a low cost of living. Similarly, there are a number of co-working spaces in the city which led people to start their own workplaces.
Berlin: New Hotspot For Cryptocurrency-According to Jazmine Zhang of LongHash Germany, a blockchain accelerator, there are different talents from everywhere throughout the world working in the city; the crypto-community made an exceptionally open and diverse network in the city during blockchain and crypto meetups.
“Berlin is the crypto capital of Europe if not the world.”
-A lead developer of Ethereum, Fabian Vogelsteller
The Berlin-based EOS operating system has a market capitalization of $4.9 billion dollars in the crypto market. However, Berlin is also the base of the IOTA team which is located in the city. The IOTA project was developed based on an IoT transnational settlement and has a market capitalization around $1.3 billion dollars. The company has signed partnerships with Bosh and Volkswagen.
The exponential growth of crypto and blockchain start-ups and other industries in the city and across Germany has led to collaborating with government authorities for regulatory issues.
At present, a blockchain trade association called ‘Bundesblog’ is collaborating with government authorities inside the European nation. Hence, to help promote distributed ledger technology (DLT).