UK blockchain startup considers expansion into Berlin

Rage Comment : The development of blockchain technology is in full swing around the world, but unclear regulatory policies in various countries have brought great uncertainty to the future of blockchain, which is also an important factor that prevents it from being widely used. The changes in the political and economic situation brought about by Brexit have further increased the concerns of British start-ups about their development prospects. In order not to lose the integrated European market, British start-ups have begun to seek market transfer targets in European cities, and the German government has predicted the benefits of this trend and has begun to welcome blockchain start-ups in London.

Translation: Annie_Xu

On July 8, the research and development team of Outlier Ventures (OV) released a detailed report based on the blockchain startup tracking data obtained from angel capital, detailing the development status of blockchain startups in the UK and the rapid growth of London, UK into a center for open ledger and financial technology startups.

The UK is said to have attracted 16.7% of the world's blockchain startups with its policy advantages. Although the number of startups in the UK is less than that in the United States, the report emphasizes that the diversity of the UK's blockchain and Internet financial ecosystem is unmatched by other countries.

This diversity has spawned many unique blockchain applications, such as decentralized platforms that can be used in industries such as real estate and insurance.

However, London's start-ups have already begun to seek change and re-examine the domestic entrepreneurial environment after Brexit. Losing the European market will have a huge impact on start-ups, after all, their customer base is mainly banks, financial institutions and multinational companies.

Berlin Partner, a consulting firm under the German government, has keenly noticed this trend among blockchain startups and has begun developing a platform for them to smoothly enter the Berlin market.

Stefan Franzke

“London startups are asking the most detailed questions. They are considering entering Berlin and don’t want to lose their access to the European market,” said Stefan Franzke of Berlin Partner.

Internet finance startups such as remittance service company Azimo have begun to seriously plan to enter other European cities, currently targeting cities such as Amsterdam, Berlin and Barcelona.

After Brexit, the German Free Democratic Party (Freie Demokraten) has launched several activities to welcome startups affected by the changes in the political and economic situation in the UK. This shift in blockchain market trends will bring more innovative development to the German financial ecology, which is why the German government is actively attracting London's Internet financial startups.