180 blockchain companies have their headquarters in Berlin – and the trend is rising
Berlin is the number one crypto location in Germany
According to experts, there is also international potential
Over 180 blockchain companies have their headquarters in Berlin. The capital wrote this on its official website in April 2021. That is more than twice as many companies as three years earlier, when, according to discourse, just 70 crypto companies were based in Berlin – and the trend is rising. This makes Berlin the number one crypto location in Germany: According to the non-profit networking association BerChain eV, every second German startup from the crypto industry is based in the capital.
BerChain organizes the networking of crypto companies in Berlin
BerChain was founded in 2017 by Silvan Jongerins, Ricarda Garcia and ten other people and has set itself the task of improving the networking between crypto companies in Berlin. This includes moderating a Slack community, awarding research contracts, supporting public institutions in developing new blockchain options and organizing joint networking events.
Silicon Valley is the largest blockchain hotspot in the world
But Berlin is not only one of the strongholds of crypto fans in Germany – the city also does well internationally: In 2020, the StartUs insights portal published a list of the locations where most crypto startups are based. The numbers differ greatly from those of the city of Berlin and from diskurs – not least because StartUs insights only included companies founded after 2015 – but are still helpful to get an impression of the dimensions. According to the publication, Silicon Valley topped the list with 275 startups, followed by London (269 startups), New York City (212 startups), and Singapore (191 startups). With 54 newly founded crypto companies, Berlin took 14th place worldwide. For example, the Ethereum blockchain was developed in the German capital.
Expert: Berlin could soon be one of the biggest hotspots in the world
BerChain explains Berlin’s advantages as a crypto hotspot on its website: “With over 100 start-ups and numerous investors, companies and universities active in the blockchain area and location advantages such as low living costs, easy access to talent and a well-established start-up up infrastructure, Berlin has a very active and rapidly developing ecosystem.” In addition, Berlin has been known for its startup culture in the past and attracts crypto startups with a good infrastructure for young companies. And Garcia ventured the following assessment to Reason-Why Berlin: “It’s a city with the perfect conditions to become a global blockchain hotspot.” The blockchain strategy developed by the federal government in 2019 also contributes to this.
Editorial office finanzen.net
Image sources: S.Borinov / Shutterstock.com, everything possible / Shutterstock.com