Ireland aims to become a Fintech center

Crypto News

Leo Varadkar, the head of the Irish government, came to the Web Summit MoneyConf, the conference dedicated to technologies taking place each year in Dublin. He wants to make Ireland a major European capital of technology.

The interest of Irish citizens for crypto-currencies

According to a study by The Irish Times of June 11, 2018the number of Irish citizens holding cryptocurrencies has increased by 300% this year compared to 2014.

A total of 120,000 Irish citizens are big holders of Bitcoins and altcoins, not to mention the 180,000 inhabitants who claim to have bought or at least used Bitcoin at some point. Moreover, it seems that public opinion has gained momentum by migrating “from suspicion to curiosity. “

According to a 2014 survey, more than 85% of Irish people recognize Bitcoin.

A Fintech meeting

Over the years, Dublin, the Irish capital has become a thriving technology hub. It is the leading city to which technology experts from all over the world are moving and delighting. In addition, the MoneyConf event welcomes 5,000 participants across more than 84 countries this year.

“I think there is no better place to discuss issues such as cyber security, cryptocurrencies, AI, regulation and future financial technologies than here in Ireland,” he said. Leo Varadkar, adding: “Ireland is somehow emblematic of the revolutionary changes that have taken place in the world of finance and technology. From an islander and introvert to the edge of Europe, Ireland is a melting pot of more and more multicultural and globalized nationalities, who are proud to engage with the world. “

The Irish leader announced during the Web Summit that the government intends to open 26 new embassies and consulates around the world to increase Ireland’s presence in the global market, specifically in Tokyo and Frankfurt. .

The budget for IDA, the Irish Industrial Development Authority, will increase in the coming years to support technological innovation and attract software engineers and other professionals in the sector.

On the other hand, Blockchain Ireland, a Blockchain research and development company that advocates innovation in the large distributed register industry will hold the attention of foreign investors.

All of these initiatives have a specific purpose: to make Ireland a center for financing innovative technologies.

“We are witnessing the results of our Fintech and Blockchain ecosystem development work,” said Leo Varadkar.

Clearly, breakthroughs in Blockchain and FinTech are gradually emerging in Ireland. With this in mind, the Irish Central Bank will create an innovation center and an industry engagement program.

“This will keep us in step with the changing financial and regulatory landscape,” concluded the Irish leader.

What do you think of Ireland’s efforts to become a Fintech center? Tell us in the comments section below.

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