Spain invests to create Blockchain center in Barcelona

Spain is intended on the development of the Blockchain based technology in the country
25 May 2018   554

As reported in the local news, Barcelona Tech City will be building a specialized space for Blockchain technology development. The new working area will be situated a second building which will be near the headquarter Pier01. Barcelona Tech City headquarters were presented back in summer 2016, and will mostly be used by Spanish Blockchain network Alastria.

Currently Pier01 hosts over 1,000 local and international specialists from tech launches and undertaking hubs throughout the country. All of the working teams and staff members are the part of the city’s digital ecosystem which is placed in the reconstructed Palau de Mar.

In the nearest future various buildings of Barcelona Tech City are aimed to be connected by electric vehicles. The Tech City will also keep all the necessary services for the “inhabitants” such as centers for health, gaming, and media. In November 2017, a famous software firm, SAP announced about joining Alastria’s Blockchain consortium. According to the report, the consortium presently has more than 150 member organizations that include several major Spanish banks, leading telecommunications networks as well as many large and IT industry based universities.

The Blockchain tech hubs building has been broadly spreading worldwide as a meaningful recent IT industry trend. The announcement from Spain was one of the recent several important initiatives which all interested in the development of Blockchain technology. 

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.