The first industrial revolution (the transition to new manufacturing processes) and the second industrial revolution (the technological revolution) both started in Great Britain and then spread through Europe before reaching the United States and beyond. Both changed the world deeply, at its roots. The next industrial revolution is happening now, in the cradle of Europe, and it will change our world more than we can imagine.
The world of financial technology is changing. The world itself is changing. The unnatural centralisation of technological knowledge and capital in limited geographic areas is coming to an end. Knowledge, technology, and money are being decentralised. The crypto-economy is allowing for the emergence of new, decentralised business models, and Europe is poised to take a leading role in the emerging distributed revolution. European companies like ICONOMI have become creators of this exciting new era of the crypto-economy, the first organisations building bridges between the old and new economies.
The European regulatory framework, a pillar of the Old World, is fertile and ideal for fostering this new paradigm of distributed innovation. The EU's passporting system allows international cooperation and trade between EU financial companies with a minimum of regulatory burden. This is especially important for the growth of a technology in its infancy, where the key formula for success is "innovate first, regulate second".
Within Europe, there are stand-out examples of governments actively supporting and accelerating the use of blockchain technology. Estonia, for example, is using blockchain to secure its citizens' medical records, create an e-residency program and implement an e-voting system. Switzerland is firmly establishing itself as a major blockchain hub, with four of the five largest token sales having taken place there. Slovenia also stands out in the...