Blockchain - The Netherlands Is Blazing A Trail

The world is abuzz about blockchain, but not all nations are equally up to speed when it comes to their embrace and support of this important emerging technology.

Some have focused on cracking down on potentially predatory behaviors, even at the cost of thwarting enterprises that could massively improve quality of life throughout society. But some countries have made it a point to dive head first into blockchain and show federal support and encouragement for blockchain innovation.

The Netherlands has emerged as such a leader. In fact, it launched government-supported blockchain pilot projects, and pushes for new prototypes, project implementation, and international partnerships. Partners so far include the World Bank, the United Nations, and the EU Forum.

The Netherlands also announced in May that the Ministry of Economic Affairs and Climate Policy created a special blockchain unit with a research agenda mainly focused on establishing if the trustless nature of blockchain is reliable, determining if blockchain is sustainable from the perspective of energy consumption, and discovering the best ways in which blockchain endeavors can be managed and governed.

“The Netherlands hosts one of the most passionate blockchain scenes in the world,” said Emanuele Francioni, Tech Lead of Dusk Foundation, a Dutch non-profit creating a blockchain-based secure communication system, to protect the freedom of speech. “Events are organized in multiple cities in the country and the turnout is great. Amsterdam, Berlin, and London form a strong co-located blockchain scene. We are seeing more homegrown projects in the Dutch space, and events are becoming more and more professional.”

“Most of the early experimentation by the government was done with multinationals through consortia, often in the permissioned [private] space,” Francioni continued. “We are starting to see the first permissionless [public] initiatives getting more public traction, which is a very exciting area that should get a lot more attention.”

Dutch ventures are also making strides when it comes to crypto exchanges. If you want to acquire cryptocurrency tokens, you need to exchange fiat currencies (like dollars or euros) for your token of choice on a crypto exchange.

Trading for and between cryptocurrencies is one of the industry's most emerging markets, but many of the exchange options out there are very problematic: they’re slow, charge high fees, upset currency pricing, and are vulnerable to hacks.

Founded in 2014 by John Jansen, Dutch firm Deribit is a cryptocurrency exchange on which it’s possible to trade futures, options and other derivative products. The exchange keeps 95% of its bitcoin held in cold storage at all times.

“It’s amazing that the Dutch government created a special blockchain unit with the goal of not just regulating the new technology but actively looking for opportunities,” said Jansen, who comes from a background in options trading in the Amsterdam Options Exchange. “This shows a positive attitude toward this technological development which benefits the blockchain ecosystem in the Netherlands.”

“Furthermore, crypto is catching on with the Dutch people as well,” Jansen continued. “It was recently reported that in October of 2017, an estimated 135,000 Dutch people had invested in cryptocurrencies. But by February of this year, that number rose to 580,000… that’s 430% growth in five months. We have every reason to expect that number to continue to rise.”

And not just the common folk, either. “Even our royals get involved” said Plamen Nedyalkov, CEO of Zoom. “Prince Constantijn van Oranje has been attending blockchain conferences and hackathons across The Netherlands and is the chairman of StartUpFest Europe, which also works with Blockchain startups.”

Zoom is a blockchain-based hiring and work management system that shows companies’ and freelancers’ accurate work history, avoiding fraud through decentralized data hosting. It was founded in Amsterdam in 2017 by Nedyalkov. The inspiration came from the Nedyalkov family construction business, which for over 20 years built residences, hospitals and hotels, but always struggled to secure flexible, global outsourcing.

There’s no doubt that the country's support has led to intense innovation in this burgeoning sphere already.

From the looks of things, there’s a lot more where that came from. Can Dutch regulation legislation keep up with the boom? Can crypto prices stabilize and continue to encourage growth and development? We’ll have to wait and see how these conditions turn out.

Forbes:

You Might Also Read:

What Does Blockchain Mean To The EU?

« Blockchain Can Help Fix Cybersecurity
Edward Snowden To Address Israeli Spies »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

NordLayer

NordLayer

NordLayer is an adaptive network access security solution for modern businesses — from the world’s most trusted cybersecurity brand, Nord Security. 

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Via Resource

Via Resource

Via Resource specialise in Information and Cyber Security recruitment in the UK, Europe and USA.

Patchstack

Patchstack

Patchstack (formerly WebARX) is a web application security platform, which allows digital agencies and developers to monitor, protect and maintain their websites.

Attivo Networks

Attivo Networks

Attivo Networks is an award winning provider of deception for in-network threat detection, attack forensic analysis, and continuous threat response.

TrustArc

TrustArc

TrustArc provide privacy compliance and risk management with integrated technology, consulting and TRUSTe certification solutions – addressing all phases of privacy program management.

NetMonastery DNIF

NetMonastery DNIF

NetMonastery is a network security company which assists enterprises in securing their network and applications by detecting threats in real time.

Managed Security Solutions (MSS)

Managed Security Solutions (MSS)

MSS deliver consultancy services and managed security services for IT departments who may lack the time, resources, or expertise themselves.

NSHC

NSHC

NSHC is a provider of mobile security solutions, cyber security consulting and training, and offensive research.

Culinda

Culinda

Culinda secures medical IoT devices in hospitals with An Artificial Intelligence platform and security gateway.

GitGuardian

GitGuardian

Enable developers, ops, security and compliance professionals to enforce security policies across public and private code, and other data sources as well

972VC

972VC

972VC was created to help entrepreneurs find potential funding for their startups. Your guide to the Israeli startup funding ecosystem.

Visium Technologies

Visium Technologies

Visium Analytics provides innovative data visualization, cybersecurity technologies and solutions to businesses to protect and secure their data assets.

Network Intelligence

Network Intelligence

Network Intelligence are a global cybersecurity provider offering services across 6 broad spectrums - Assessment, BCMS, GRC, Professional Services, MSSP & Training.

HB-Technologies

HB-Technologies

HB-Technologies is pioneer in Africa, in digital security, embedded electronic and IT solutions based on highly secure smart cards that comply with international standards and norms.

BreachQuest

BreachQuest

BreachQuest brings together cybersecurity experts with decades of experience identifying security flaws, penetrating networks, and responding to incidents.

Computer Services Inc (CSI)

Computer Services Inc (CSI)

CSI is a leading fintech, regtech and cybersecurity solutions partner operating at the intersection of innovation and service.

CyberX9

CyberX9

CyberX9 helps you protect against a wide range of cyber attacks whether you are a business or a high-net worth individual under risk.