Executive Director Institute for the Future IFF Thematic Report EU Blockchain Ecosystem European Blockchain Observatory and Forum Aim of the Report Reference for the State of BlockchainCrypto in Europe ID: 911906
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Slide1
Professor George GiaglisExecutive Director, Institute for the Future (IFF)
Thematic Report:EU Blockchain Ecosystem
European Blockchain Observatory and Forum
Slide2Aim of the Report
Reference for the State of Blockchain/Crypto in Europe
29 countries analyzed
27 EU member states
Plus Switzerland and the United Kingdom
Two-level analysis
L1: Country-level overviews
L2: Cross-country comparative assessment
200+ pages of material
Slide3Level 1: Analysis of individual countries
29 x country-level factsheets
Profile & key metrics
Key policy, regulatory, education & research initiatives
The national entrepreneurial environment
User communities
Interviews with experts
Slide4Level 2: Cross-country analysis
Entrepreneurial ecosystem x Academia x Regulation
Size of the blockchain industry
Number of companies
Entrepreneurial funding
Academic initiatives
Education & training programs
Research groups & projects
Regulatory maturity
Crypto-focused legislation
National blockchain strategy
Regulatory sandboxes
Slide5Size of the European blockchain industry
3,000 blockchain/crypto businesses, both start-ups & incumbents
Slide6Size of the European blockchain industry
3,000 blockchain/crypto businesses, both start-ups & incumbents
Slide7Funds raised by blockchain/crypto start-ups
More than 7.5bn € of blockchain-related entrepreneurial funding
Slide8Funds raised by blockchain/crypto start-ups
More than 7.5bn € of blockchain-related entrepreneurial funding
Slide9Academic initiatives
Europe is a global leader in blockchain/crypto education
First program in the world
University of Nicosia (2013)
18 programs in 11 countries today
Academic degrees: Spain (x8), Cyprus, Austria, France, Italy, Ireland, Malta, UK
Other: Denmark, Estonia, Netherlands
Slide10Regulatory Maturity
A three-stage model
Stage I
No blockchain/crypto specific legislation
or
Warnings for investor protection, small-scale national initiatives
Slide11Regulatory Maturity
A three-stage model
Stage I
Stage II
No blockchain/crypto specific legislation
or
Warnings for investor protection, small-scale national initiatives
Frameworks for KYC/AML/taxation
or
Blockchain/crypto-focused task forces, public sector pilots, government research
Slide12Regulatory Maturity
A three-stage model
Stage I
Stage II
Stage III
No blockchain/crypto specific legislation
or
Warnings for investor protection, small-scale national initiatives
Frameworks for KYC/AML/taxation
or
Blockchain/crypto-focused task forces, public sector pilots, government research
Digital assets legislation
or
National blockchain strategy, regulatory sandboxes
Slide13Regulatory Maturity
A three-stage model
Stage I
Stage II
Stage III
No blockchain/crypto specific legislation
or
Warnings for investor protection, small-scale national initiatives
Frameworks for KYC/AML/taxation
or
Blockchain/crypto-focused task forces, public sector pilots, government research
Digital assets legislation
or
National blockchain strategy, regulatory sandboxes11 countries11 countries7 countries
Slide14Ecosystem Maturity
Three indicators: business ecosystem, user communities, academic initiatives
Stage I
Stage II
Stage III
Strong ecosystems in none or one dimension
Strong ecosystems in two dimensions
Strong ecosystems in all three dimensions
Slide15Ecosystem Maturity
Three indicators: business ecosystem, user communities, academic initiatives
Stage I
Stage II
Stage III
Strong ecosystems in none or one dimension
Strong ecosystems in two dimensions
Strong ecosystems in all three dimensions
11 countries
10 countries
8 countries
Slide16State of the European Blockchain Union
Combining regulatory & ecosystem maturity
Regulatory Maturity
Lithuania, Netherlands, Slovenia, UK
Cyprus, Estonia, Malta, Switzerland
Denmark, Ireland, Sweden
Austria, Italy, Portugal, Spain
France, Germany, Luxemburg
Belgium, Bulgaria, Croatia, Czech, Greece, Hungary, Romania, Slovakia
Finland, Latvia, Poland
Stage III
Stage II
Stage I
Stage I
Stage II
Stage III
Ecosystem
Maturity
Slide17Conclusions
Four factors favoring blockchain development
Regulatory certainty
including sandboxing & taxation
State support
national strategy, public sector pilots, etc.
Innovation-friendly climate
including access to the traditional financial services industry
Skilled workforce
Slide18Future outlook
The EU Blockchain ecosystem is growing
Top-down & bottom-up initiatives combine to create an emerging innovation-friendly environment
European Blockchain Partnership (EBP)
European Blockchain Services Infrastructure (EBSI)
The Markets in Crypto Assets (
MiCA
) proposal
Coupled with industry, academic and user-driven ecosystems
Naturally, not all countries are on the same maturity level
But, all have
unique experiences, success stories and lessons learnt from their involvement with the field – which should help to inform the development of EU-wide policies
Slide19Institute for the FutureContact DetailsE:
giaglis.g@unic.ac.cy | Twitter: @giaglis