Actually, the Blockchain technology and crypto-Economy knows no national boundaries. Actually. Finally, has formed around the stateless Bitcoin is a whole Ecosystem of service providers and manufacturing companies. No matter, whether (HQ) stock exchanges, Miner or a Hardware Wallet manufacturer: all are subject to national regulation and are as much a part of the national economy as a medium-sized automotive suppliers. Consequently, it makes a significant difference whether the emerging crypto Unicorns in Europe or other regions of the world. Accordingly, the question of how the European cryptographic industry fails in comparison to the USA and Asia.
Unfortunately, a similar development as in the case of the platform economy of Web 2.0 features in crypto-service providers. The really big and not locally organized companies and service providers located in the USA and China. No matter whether Bitmain out of China or Coinbase and Ripple from the USA – most of the big players are not in Europe. They are influenced by local Standards and policies. They pay most of their taxes and have pooled their Know-how by wise heads. Europe has a Disadvantage.
Why is it necessarily European crypto-Unicorns needs
The way we shop (Amazon), the way we over the Internet to interact socially (Facebook), the way we move in the Internet (Google) and the choice of our holiday destinations (Airbnb) is not determined of companies in Europe. Our data do not sit in Europe and their added value does not take place here. Better access to information, therefore, is not the European authorities, but the US-American.
Accordingly difficult is the enforcement of European interests such as consumer protection and data security. The current use and communication standards are designed to be strong from current Web 2.0 platforms. If you want to use these services, you must accept the Terms of service and its valuable data free of charge. The economic welfare gains to come, particularly the USA and Asia.
Just like with the Web 2.0 and the above-mentioned well-known platforms, a new Economy emerges through the still not to the end defined Web 3.0. In this Economy, the Blockchain technology plays in addition to artificial intelligence, and the Internet of things an important role. In the next few years, new major players will emerge and thus, in addition to decentralised projects, even centralised actors with great influence.
These and other reasons why it may be of interest, that large and influential companies in the own jurisdiction and not outside.
Dutch company Bitfury as a positive example
Good news from the Netherlands is, therefore, that the crypto-company Bitfury has raised Recently, 80 million US dollars in capital. According to the company, the valuation would crack the one billion-US-Dollar-limit – a European Unicorn. Even if Bitfury Economy represents only a small piece of the Puzzle in the crypto, it is a positive Signal for Europe as a business location. Finally, it takes Know-how and wise heads, the drive is not in Silicon Valley, but here in Europe, crypto-innovations forward. With all the classic services and products in the cryptographic range, a strong European cryptographic industry can ensure that the smart people leave Europe. Quite the contrary, you can ensure that wise heads from other Parts of the world want to come to Europe.
It is much more than just potential tax revenue and jobs. It comes to setting the Standards of tomorrow and the crypto-Economy actively shape it. The Blockchain technology can not only provide a long-term technological approach to guarantee data autonomy, but also a new Chance for Europe to mean.