The special significance of Bitcoin to Ireland, the “Emerald Island”

A new blockchain and digital currency center is coming to Ireland (the country has a green coverage rate of more than 90%, so it is called the Emerald Isle). In fact, Dublin is gradually becoming a Bitcoin center area, with strong support, good education and industrial infrastructure in cryptocurrency and digital ledgers.

Deloitte (financial management and consulting firm) establishes 50-person Blockchain R&D team in Dublin

Ireland has become one of the fastest growing players on the global Fintech stage with its ever-increasing technological innovation. Many major technology players such as Google, Facebook, PayPal and others have a lot of business in Fintech and have shown great confidence in traditional financial institutions and the technology sector. There is also an increasing amount of research and development on blockchain in Ireland.

Just recently, Deloitte announced that it would create a blockchain research and development department in Dublin. The department plans to establish a team of 50 developers next year, 25 of whom will be responsible for the distributed ledger technology department. However, this will take time, David Dalton, head of financial services at Deloitte Ireland, told the media that skills in the blockchain field are still "very rare."

Dalton also went into detail and has been working on 20 different blockchain prototypes for a wide range of applications. Some of the technologies being developed also use smart contract technology. Deloitte hopes that developers who understand this new technology can have new ideas and qualified practices. Deloitte will mainly start at the conceptual stage, but Dalton believes that all major players will be involved in this technology before long. Dalton said in a statement:

“This is relatively immature technology and is still in its early stages of development. We still have a long way to go to standardize the platform.”

Dublin-based Circle Financial continues to grow in the UK

Another company directly involved with Bitcoin is Circle Financial, which has its international headquarters in Dublin. Circle Financial and Coinbase have become known leaders in the cryptocurrency space. Circle Financial has raised $76 million in funding so far and has an office in downtown Boston, which has a large Irish population. Circle Financial and its Dublin office are backed by Goldman Sachs, and it is also planning to open an office in London to expand its business throughout the UK. CEO Jeremy Allaire and co-founder Sean Neville were recently in London to recruit a UK department manager and are in talks with UK regulators. Circle Financial has been operating since 2013 and is the largest funded cryptocurrency company in Ireland.

Blockchain & Digital Currency Academics ‘Thriving’ in Ireland

Education and academic research on Blockchain has also become very popular in Ireland. Earlier this year, the Center for Entrepreneurship and Enterprise Development (CEED) held the 2016 Economic Forum Cantillon, which focused on fintech and blockchain solutions. There were many Bitcoin evangelists at the Institute of Technology Tralee, including Dan Roseman of Coinality (Bitcoin application), who talked to the audience about the employment opportunities of the growing cryptocurrency. There was also Ms. Jan Skoyles of Real Asset Company (a gold trading platform based on blockchain technology), who introduced the relevant content of cryptocurrency and crowdfunding to the Irish masses.

On April 21, the University College Dublin (UCD) hosted a conference called Translating the Blockchain. The CodingGrace Group (Irish R&D team) organized the conference and invited speakers Gianluca Miscione and Paul Ennis from UCD (National University Dublin), Lory Kehoe, Cillian Leonowicz, and Stephen Wingree from Deloitte, who all talked about the importance of blockchain technology. The conference covered topics including law, regulatory policy, technical issues, ethical issues, governance, accounting, fintech, cybercrime and application decentralization.

Bitcoin Emerald Island is popular

Bitcoin usage is also popular in the Emerald Isle, as Bitcoin organizations hold regular meetups in Dublin. According to Coin ATM Radar, there are two Bitcoin ATMs in operation in Dublin. The Bitcoin Association of Ireland was formed in 2013 to increase awareness of cryptocurrency. Several non-profit organizations have signed up a group of merchants to accept cryptocurrency, including e-cigarette suppliers, bedding businesses, B&Bs, phone shops, and CCTVs. In addition to regular meetup groups and foundations, Ireland also has its own Bitcoin exchanges, such as BitEx.ie. BitEx.ie sees itself as the go-to platform for buying and selling Bitcoin in Ireland, and has also set up the first Bitcoin ATM in Dublin, providing merchants with an iPad app to digitize Bitcoin.

Dublin is on its way to becoming the recognized fintech and cryptocurrency hub of the UK. Many parts of Europe, especially London, have been cited by the media as hotspots for financial technology innovation. Ireland also seems to be progressing at a rapid pace, aiming to become the best region for these technologies.

JPM compiled from

Live Bitcoin News, Ireland Embraces Cryptocurrency&Fintech Solutions , by Jamie Redman.