Ireland aims to be leading blockchain hub in the world

Posted 13 June, 2018

Ireland's Industrial Development Authority for the attraction of foreign investment reportedly intends to launch an online platform for digital economy development.

As local media reported, the project called Blockchain Ireland is aimed at the promotion of the country as the best choice for the international blockchain companies.

"Blockchain technologies, which store blocks of information that are distributed across a network, are seen as a major breakthrough, as they bring about high levels of traceability and security in economic transactions online," reported The Irish Times.

The project was proposed by the Irish Blockchain Expert Group within IDA along with the Finance Ministry, Enterprise Ireland and ConsenSys company.

"While most commonly associated to date with cryptocurrencies such as bitcoin, they [blockchain technologies] are expected to affect digital services and transform business models in a wide range of areas, including healthcare, insurance, finance, energy, logistics, intellectual property rights management and government services." 

For reference, the country cast itself as one of the key global hubs for technology companies and sets low-interest rates and flexible taxation for investors. 

At present, developers of such blockchain apps like Circle, AidTech and Arc-Net are located just in Ireland.

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13 June, 2018 14:13

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