Berlin, the German Capital, has become a significant centre for development of cryptocurrency systems. The town hosted the Longhash Crypto Festival between October 26 and October 29, to promote innovation among programmers. Remarkably, participants attending the festival were drawn from Eastern Europe, Asia, and the U.S.
Interestingly, the German capital has held a ubiquitous reputation as a popular destination for partygoers. Described by Klaus Wowereit, Berlin’s former mayor, as “poor but sexy”, Berlin has habitually trailed other German cities in business.
Tectonic Technological Shift of Berlin
However, there is a technological revolution taking place in Berlin. Currently, there are several entrepreneurs, programmers and developers working to establish a rich blockchain ecosystem there. Berlin is now racing to rival New York, London, Hong Kong, Singapore, and San Francisco to claim the coveted title of crypto capital of the world. Currently, the town has emerged as a fierce contender for the title of Europe’s crypto capital.
In the two-day Longhash event, participants were nestled around their laptops as they engaged in building applications. Importantly, developers worked on applications geared towards the safe storage of a private key for a cryptocurrency and developing of a cold wallet.
According to a Deutsche Welle report, Participant Diana Rees, CEO at zkSystems in Berlin, was ecstatic about the event. She said that the contest was a great example of the “collaborative spirit” and “technical depth” that typifies the Berlin blockchain ecosystem.
At the same event, Emily Parker, co-founder of Longhash in New York, was more blatant in describing the crypto community in Berlin. She said:
“Berlin has one of the most dynamic crypto communities in Europe, which is why we are focusing so much of our energy here,”
Amplifying Parkers remarks, Jasmine Zhang, Berlin-based CEO of LongHash Germany said:
“Especially with Brexit, Germany is now attracting a lot of talent and funding from everywhere,”
The Great Strides towards Blockchain Adoption
Recently we reported of a cashless bar in London accepting bitcoin. Previously, in 2011, Room 77 bar in Berlin, frequented by crypto enthusiasts, became the first bar to accept bitcoin. Currently, developers are creating applications that will enable them to work with government and big businesses.
Bundesblog, a body representing blockchain startups in Germany, is working with government bureaucrats to advance the adoption of blockchain technology. Zhang is mainly focussed on ensuring that the industry works with the government to increase blockchain adoption.
“There is a realisation that to push the blockchain forward there is a need to work with government,” she said.
Indeed, EOS, a Berlin-based blockchain platform for commercial-scale decentralised applications, is ranked fifth in the world. Additionally, IOTA, the firm behind the transactional settlement for the Internet of Things (IoT), is among the leading cryptocurrencies in the world.
It is noteworthy that Gavin Wood, a co-founder of Ethereum, is a British programmer residing in Berlin. Currently, he is the Chairman and CTO of Parity Technologies- a specialist in building core blockchain infrastructure domiciled in Berlin. Recently, Jutta Steiner, the co-founder and CEO of Parity, brought to fore an initiative using Ethereum protocol to distribute aid to refugees. Hailing the technology’s reliability, she reportedly described it as, “hardened in the most adversarial environment of the public internet.”
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