Blockchain technology is getting more attention. How’s The Hague Tech’s blockchain climate?
Blockchain technology is getting more attention as start-ups and entrepreneurs envision how to process transactions and decentralize their networks by applying this technology to their business models. So what’s buzzing in The Hague?
First things first. Blockchain technology promises to overcome trust in people as human interventions are no longer necessary. Blockchain is often expressed in financially-charged terms and to go beyond that is a challenge. Blockchain is a distributed, open source, censorship proof, permissionless, borderless system with which we can digitally transfer and communicate value of any kind and under preferred conditions without the need of a trusted third party. The technological concept behind blockchain technology is identical to that of a database, only in this database, every action has to be authenticated via the agreement of those participating in the network, current and previous states are visible, and users can’t modify the data.
The cryptocurrency Bitcoin has been the most known application of blockchain technology. Next to money transfers, blockchain can serve as a universal infrastructure for contracts, property titles, marriage licences, basically anything that reduces the function of the middleman. Think of using blockchain technology for sharing and transferring healthcare data, a blockchain-based vote-counting system that is less vulnerable to fraud, tracing food products through supply chains to enhance sustainability or real estate transactions that are more efficient, thus saving money.
The Hague and Bitcoin go hand in hand, as The Hague is known for having the first European Bitcoin Boulevard with a Bitcoin ATM. It is therefore not strange that blockchain technology is now, more than ever, apparent in The Hague. There is a high interest of visitors attending events as #CRYPT070 and Vierde Vrijdag! at The Hague Tech. If you have been to past events, you have met RChain (scalable applications), The Komodo Platform (end-to-end solutions), Chaîne (collecting and reporting data on climate action), Bitmymoney (secure and save bitcoin accounts) and Bun.Run. (your future go-get-give delivery service).
This month World Start-Up Factory welcomed new start-ups at The Hague Tech. New is Qlikchain from India, they build a trust ecosystem for employment, making hiring processes at companies easier by a certificate credentialing platform. Decibel.live analyses noise levels and stores them in blockchain technology. By their smartphone monitoring, businesses can interact directly with impacted parties through a social contract. You’ve probably heard of it before; the Tagologic-Tag is a unique code focused on the identification of digital and physical objects. With blockchain technology Tagologic offers their customers a service that enables trust, control and the tracement of real time transactions, collected in one database. Next to start-ups, learning platforms have risen. An excellent The Hague based initiative of an early blockchain adopter is this website (in Dutch) that explains blockchain and bitcoin in clear language. One of the latest initiatives is from one of The Hague Tech’s community members Bart Roorda and his partner in crime Marc Buma. Interested in developing and programming? This duo gives DeepDive.training’s that enable developers to make cryptocurrencies.
How’s The Hague’s blockchain climate? A lot of energy, connectivity and curiosity is going around, that’s for sure. As blockchain fanatics explore decentralisation, aim to shape society and try to change the game, they attract entrepreneurs that come to listen, explore and also share their ideas and innovations. From now on it is right to say; The Hague and blockchain go hand in hand. Is it time to start The Hague’s first Blockchain Lab?
Interested or an expert in blockchain technology yourself? I’d like to hear from you! Do you know initiatives that are missing in this article? Do you want to share your story? Send me a PM!
- Written by Marja Hollander
"The Hague and blockchain go hand in hand. Is it time to start The Hague’s first Blockchain Lab? "
Ambassadeur The Hague Tech