Barcelona’s Tech City To Create Space For Blockchain Technology

Local news outlet La Vanguardia reported on May 24 that the Barcelona Tech City will create a specialized space for blockchain technology development.

The headquarters of the Barcelona Tech City opened in the summer of 2016. The blockchain space will be most likely be occupied by Spanish blockchain network Alastria. It will consist of a second building that will be near toPier01.

At present, Pier01 is a home to 1,000 experts from technology startups and innovations centers as a component of the city’s digital ecosystem in the reconverted Palau de Mar. La Vanguardia reported that the distinctive structures of the Barcelona Tech City will be joined by using electric vehicles and furthermore will contain centres for gaming, media and health.

SAP, a software firm announced in November of last year that it will be joining hands with Alastria’s blockchain consortium, which consists more than 150 member organizations, including media communication, Spanish banks and universities.

The trend of opening blockchain technology hub has been growing worldwide. The European Union announced in February that it was planning to open a  Blockchain Observatory and Forum. In May, New York announced of opening a Blockchain Resource Center.

A blockchain is decentralized, circulated an open digital ledger that is utilized to record transactions across numerous computers so that the record can’t be modified retroactively without the modification of all subsequent blocks and the collusion of the system.

Blockchain technology is revolutionizing the financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries. Blockchain is the world’s leading software platform for digital assets. Offering the largest production blockchain platform in the world, we are using new technology to build a radically better financial system. It’s time money caught up. Digital assets, like bitcoin and ether, allow users to transact directly without any third-party intermediary. They are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time.

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.