Blockchain in the Community of Madrid
The development of Blockchain technology in the Community of Madrid
focuses on its application in strategic sectors such as health,
energy and e-government, the efficiency and transparency of public services
and the promotion of innovation and entrepreneurship.
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A powerful and growing Blockchain ecosystem
The Blockchain Cluster promotes technological innovation and business networking with the participation of important companies and institutions and several universities. The Cluster establishes and carries out research and projects, promotes the standardization and protection of associated technologies, promotes participation in blockchain networks, develops digital identity models and carries out dissemination campaigns.
Some of the important private players using this technology in the financial sector are BBVA and Banco Santander for payments, trade finance and identity management. Telefónica, through Telefónica Tech, invests in blockchain solutions for digital identity and data traceability. In the consulting space, Accenture and PwC also have a significant presence in the implementation of this technology.
Public action for the development of blockchain technology
The Community of Madrid Blockchain strategy focuses on three fundamental pillars: the application of blockchain in strategic sectors such as health, energy and e-government, the efficiency and transparency of public services and the promotion of innovation and entrepreneurship. The Regional Government is leading the development of a Blockchain Network in Spain aligned with the European Blockchain Services Infrastructure (EBSI) promoting innovative solutions for various key economic sectors, including finance, logistics and automotive. Among other activities, this network rewards innovative solutions that use disruptive technologies to address social and administrative challenges such as access to housing, energy sustainability, the adaptation of talent to the labour market and processing with the Public Administration. In addition, Madrid has several active nodes on Alastria, the Spanish network that fosters the development of Blockchain.
An environment conducive to collaboration
In the field of entrepreneurship and innovation, Telefónica through the Wayra Activation Programme provides access to technologies to emerging companies, including the Blockchain ecosystem, and the SeedRocket accelerator offers introductory workshops to Blockchain. Among the examples of institutions that adopt blockchain technology to improve efficiency and transparency, the Madrid Chamber of Commerce implements blockchain technology for the issuance of its postgraduate degrees.
Events and meetings organized by private and independent institutions are also numerous. The Crypto Week Madrid Summit, which brings together investors, developers and entrepreneurs for knowledge exchange and business promotion, underlines the importance of the region in the field of cryptocurrencies and blockchain technology. Others like Cryptovers Island merge digital art with blockchain technology, explore new creative and commercial dimensions, attracting artists and professionals from the sector. There is also Merge Madrid, which has positioned itself as an essential meeting point between Latin America and Europe for the exploration of the latest innovations in Web3, art and digital transformation. These events cover thematic areas such as technology, business and legal, and include networking sessions, contributing significantly to the consolidation of Madrid as blockchain technology hub.
A privileged place for startups
The Community of Madrid is home to a wide range of startups that address various aspects of technology. With 113 Blockchain Companies founded in recent years - 5th position in Europe after London, Paris, Berlin and Amsterdam – these companies create more than 2,000 jobs and have attracted more than €120M in the last years with a total valuation of €460M.
As an example, Atani, founded in 2019, addresses the usability challenges of cryptocurrency investing. Zignaly, founded in 2018, leverages social trading, allowing users to follow expert crypto trading strategies, encouraging a community-driven approach. EthicHub, a 2017 startup, focuses on financial inclusion by connecting unbanked farmers with investors through DeFi, using blockchain to facilitate crowdfunding and crowdlending. Larrosa, Taxdown, Atani and Quasar labs are some of the prominent Madrid Blockchain companies that have closed investment rounds in recent years.
Blockchain Startups in Madrid
Nr of Tech Companies
113(4th of European Hubs)
Some prominent Blockchain Agents in Madrid
Main Blockchain Events in Madrid
Merge Europe and Latam united via Web3
Cryptoverse Island A meeting place for the community where crypto enthusiasts, artists, investors and collectors meet
Definition of Blockchain
Blockchain technology can be understood as a digital ledger shared between multiple computers on a network. Unlike traditional systems where information is stored in a single place, blockchain distributes data, increasing its security and resistance to tampering. Each transaction is recorded as a "block" that is added to this chain, and once added, it is extremely difficult to modify it, thus ensuring the immutability and reliability of the information.
This decentralization and the application of cryptographic techniques to protect data are key features of the blockchain. Transparency is also critical, as all network participants can verify transactions. This allows blockchain to have diverse applications, from cryptocurrencies to supply chain management and identity verification, creating a system where information is secure, transparent, and trustworthy.
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