Bitcoin adoption in The Netherlands

Bitcoin adoption booming in the Kingdom of the Netherlands! Also known as Europe’s best-connected and largest ecosystem! A small country full of icons such as The Hague, bulb fields, windmills, cheese markets, wooden shoes, canals of Amsterdam, masterpieces of Old Masters, Delft Blue earthenware, innovative water-management and millions of bicycles.

The Netherlands has a population of just under 17 million people with the median age of 42,9 years of which 90% live in urban areas. Rate of growth of the Dutch economy will moderate in 2016 compared to last year due to weak global demand and Brexit. The forecast is that the GDP will rise 1.6% this year and down slightly to 1.5% in 2017 #FocusEconomics.

The Netherlands is fully embracing the new digital economy and the Internet of Things after a LoRa network (low data rate) mobile communications network was launched to connect millions of objects. An interesting space to watch unfold.

Cryptocurrencies are currently not regulated under the Act on Financial Supervision of the Netherlands and this makes the the country welcoming to numerous startups, Bitcoin ATMs and even a Bitcoin Embassy in Amsterdam.

Following a world wide trend,in the Banking sector – ABN Amro and ING – are embracing Bitcoin and the Blockchain to improve their own technology, efficiency and reduce costs.

There are vibrant Bitcoin communities across the country that host regular meet-ups, events and host Bitcoin conferences.

Exchanges and OTC platforms in The Netherlands – Kraken recently acquired CleverCoin, one of the first Netherlands-based bitcoin exchanges. Coinbase as well as LocalBitcoins is also operational. BitPay, a payment processing service for merchants, has their European Head Office in Amsterdam.

One of the most exciting projects in the world is Bitcoincity – a town called Arrnhem. Launched in 2014, the initiative started with 15 bars and restaurants accepting bitcoin and has since grown to include more than 100 brick-and-mortar bars, restaurants, stores and more with over 150,000 inhabitants – a Bitcoiners tourist destination for sure! For more info, here is their website http://www.arnhembitcoinstad.nl/

The Netherlands is a progressive, innovative and vibrant country and Bitcoin community who are certainly embracing our new digital currency and the internet of money!

 

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