Spain Dives Into Blockchain And Crypto

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2018 has been a dynamic year for the blockchain ecosystem in Spain with news of adoption, education, events and perhaps new regulation. Spain is welcoming towards new technology and devotes part of their budget to public entities to encourage and develop R&D. The advantages brought by blockchain technology have attracted the attention of various sectors of the Iberian country but at the same time, it has been scrutinized by the regulatory bodies.

Regulación

Spain has not behaved in a hostile way towards blockchain technology or cryptocurrencies, but it is true that the Spanish regulatory bodies have begun to work with the purpose of creating a legal framework for different facets that blockchain technology brings such as cryptocurrency exchanges, mining, ICOs and various related services. In 2018, the Spanish Tax Agency issued a bulletin establishing a route of action in regards to taxes of cryptocurrencies.

Adopción

  • Real Estate: MrPiso became a pioneer in registering the sale of a property with Bitcoin as a payment method.
  • Tourism: 13Tickets offers tourist services throughout Spain and has announced that it will accept Bitcoin as a payment method and develop its own token (TourisCoin) for the same purpose. Spain is the second largest country in income from tourism after the United States.
  • Energy: Fenosa and Endesa have taken first place among Spanish companies in trading energy from a blockchain platform, as part of the Enerchain Project initiative.
  • Finance: Santander Bank launched in April 2018 a OnePay payment application which is built on the Ripple blockchain. In addition, Spain already has 40 cryptocurrencies ATM.

 

Events and education:

  • IE Business School: a recognized Spanish business school has launched a pilot program based on blockchain and cryptocurrencies.
  • Blockchain Spain: offers training, meetings and events related to blockchain technology.
  • Impact Hub Madrid: is a space dedicated to the events and coworking of professionals which has added within its programs spaces dedicated to blockchain.
  • AETOK: is the Spanish Association of Tokens and ICOs which intend to be the interlocutor with the Spanish regulators to avoid the loss of talent and opportunities.

 

 

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