Spain at the Forefront of the Technological Evolution in Europe
- Written by: Editor
- Posted: 2018-05-14
Spain is taking a big step towards the digital revolution by embracing new technologies like blockchain and the Internet of Things. The country has every chance of becoming a new European hub for blockchain companies and other tech businesses as it encourages and welcomes the technological revolution. Our lawyers in Spain highlight the main advantages for tech investments in Spain and how investors can easily open a business in Spain.
Spain and the digital economy
For a long time, Spain seemed like it was complacent with its role as a major tourist attraction in Europe with cities like Barcelona and regions like Costa del Sol. It could have even seemed that they had little interest in becoming involved with industrial opportunities and evolutions because their talented engineers and programmers were looking for opportunities in other EU countries. But this is no longer the case.
Spain has embraced the digital economy and has immersed itself in welcoming new technologies like blockchain, the tech behind Bitcoin and other cryptocurrencies. Technological advancement was what fueled the country’s infrastructure, literally. The success of the Spanish high-speed train network can be directly linked to the advancement and success in the digital sector. When the Government started investing in a comprehensive fiber-optic network it literally opened the door for telecom companies to expand this network and bring the network to the household of the average Spaniard.
One advancement after the other
Fintech or financial technologies are particularly developed and well-received in Spain. The country has been using mobile payments and intelligent ATM for some time, thus it was prepared for the introduction of the Bitcoin. The country has more than forty functioning Bitcoin ATMs and the legislation in this business field is also encouraging to investors who are looking for business ideas and opportunities in the cryptocurrency and fintech sectors.
Investors who wish to know more about the conditions for investments in Spain, particularly in fintech and cryptocurrencies, can contact the experts at our law firm in Spain.