IBM-backed Czech blockchain alliance announced
A new Czech blockchain alliance hopes to radically re-shape much of the Czech economy in the next three to five years. The Czech Blockchain Association has got the support of PwC, tech incubator Adel and IBM. It wants to support the acceleration of cryptocurrency solutions across Czech society as well as supporting legislation.
Private and public sector push
“First and foremost, our goal is to educate the public and private sectors on blockchain and crypto solutions. We want to take part in the digitization of the entire Czech society and show the practical use cases”, said Jan Lamser of Adel.
Jiří Batěk, director of IBM’s Infrastructure Division, said their ambition was “not only to localize our global solutions in the Czech environment but also to find and support innovative local partners and enable their access to international markets”.
Separately, Czech-based investment banking firm Benson Oak announced earlier in the year it had secured $25m and was seeking another $75m to support blockchain start-ups. It has raised over $5bn since 2003, with its first fund including support for internet security company AVG.
The Czech Republic introduced legislation restricting bitcoin trading at the start of 2017 though the law only applied to financial providers.