State of the European Blockchain Ecosystem

The report finds four countries at the highest maturity level on both dimensions:

• Cyprus is one of Europe’s blockchain hotspots, with a national strategy to support and promote blockchain in the country and an ongoing effort to develop legislation specific to crypto assets. Moreover, the country boasts the first ever academic course and full degree on the subject, offered by the University of Nicosia since 2014.
• Estonia has been one of the first countries in Europe to work on crypto assets regulation, providing a ‘cryptocurrency license’ to exchanges and custodial crypto-asset wallet providers. It has attracted a large number of companies that have raised enough capital to place the country in the top spot in the EU in terms of blockchain funding per capita.
• Malta is one of the first countries in the world to establish a comprehensive regulatory regime for crypto assets, since 2018. As a result, the country is one of Europe’s most successful countries in attracting investment capital in the field.
• Switzerland is home to a large number of successful blockchain companies and initiatives, has a very active venture capital and startup support ecosystem, including two regulated digital currency banking entities.

The report has been published by the EU Blockchain Observatory and Forum, coordinated by the Institute For the Future (IFF) of the University of Nicosia. Professor George Giaglis, IFF’s Executive Director stated: “We are proud to have worked with the European Commission and our partners at the EU Blockchain Observatory to publish this report. As Europe is preparing to harmonize the regulatory and policy frameworks of the EU member states, with the Markets in Crypto Assets (MiCA) proposal that was published in September, it is important to understand where each country in Europe currently stands. We have interviewed dozens of experts in all European countries and collected evidence on regulatory initiatives, status of the entrepreneurial ecosystem, education initiatives and communities of practice in each country. We believe the result to be the most comprehensive and up to date analysis of the state of the European blockchain ecosystem to date”.

Read the full report here

The EU Blockchain Observatory and Forum is  a European Commission initiative to accelerate blockchain innovation and the development of the blockchain ecosystem within the EU and so help cement Europe’s position as a global leader in this transformative new technology.

The Institute For the Future is an interdisciplinary research Centre at the University of Nicosia (UNIC), aimed at advancing emerging technologies and contributing to their effective application in industry, government and education as well as evaluating their impact on employment, wealth inequality and our lives and societies in general.

University of Nicosia is the largest university in Cyprus and among the largest English language universities in southern Europe, with over 12,000 students from over 70 countries across the globe, coming together in an innovative and transformative learning space.

Media Contact:

Marianna Charalambous,
Institute For the Future
E-mail: [email protected]