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Frequently Asked Questions

What is Blockchain Ireland?

Blockchain Ireland is a combined effort of government and Irish based companies to help promote and share information on blockchain, crypto and Web3 in Ireland. Our objective is to simplify the Irish blockchain, crypto and Web3 landscape for businesses large and small that are thinking about launching their blockchain-related venture, or expanding their existing business.

 

What is the Origin of Blockchain Ireland?

The Irish Blockchain Expert Group was formed in 2015 with the mission of promoting Ireland as a global centre of excellence for blockchain, crypto and Web3. The objectives of the group include:

  • Promoting knowledge and adoption promotion of blockchain technology, crypto and Web3 in Ireland
  • Growing the blockchain, crypto and Web3 ecosystem throughout the country
  • Promoting Ireland as a leading global blockchain, crypto and Web3 hub
  • Assisting in the creation of blockchain, crypto and Web3 jobs in Ireland
  • Showcasing the blockchain, crypto and Web3 work being undertaken by Irish companies

In 2018, the Irish Blockchain Expert Group decided to setup the Blockchain Ireland website to provide a ‘living and breathing’ view into the blockchain, crypto and Web3 ecosystem in Ireland and to inform the global public on its capabilities.

 

How Does Ireland Differentiate from Other Global Jurisdictions Promoting Themselves as a Blockchain, Crypto and Web3 Centre?

Both local and multinational companies are investing in blockchain-related developments with local and globally-sourced talent developing capabilities in Ireland. The technology and research sector in Ireland is well-developed and the global technology firms are inspirational role-models for the start-up industry. The proximity and ‘cluster effect’ of technology firms, international companies, local firms, industry bodies, government institutions and universities is unique in Ireland.

 

There Are a Number of Similar Initiatives Underway in Multiple Countries Around the World – Is Blockchain Ireland in Competition with These efforts?

We strongly believe that Ireland’s offer to the global blockchain ecosystem is unique, as are the offers of other global jurisdictions.  Rather than viewing other blockchain, crypto and Web3-related national and international groups as competitors, we view them as complementary. Some blockchain, crypto and Web3-related ventures and initiatives require only a home jurisdiction with  regulatory and tax certainty, whereas other ventures, whether corporate or startup, need an entire business model. We like to think that Ireland offers the latter.

 

Why Would Those Launching Blockchain, Crypto and Web3-based Projects or Ventures Establish in Ireland?

Ireland is a global technology hub – nine of the top ten global technology firms and all ten of the top ‘born on the internet’ companies’ operate in Ireland. Ireland class home to 7 of the ten largest global crypto exchanges.  Also, Ireland features a large, highly-skilled and multicultural workforce which makes Ireland a great place to set up multi-functional teams focusing on multiple global regions.  Ireland’s EU membership means quick and easy access to over 500 million customers, and the 12.5% corporate tax rate combined with government support for innovation and 25% R&D tax credits make Ireland a commercially compelling option as well.

 

Will Blockchain Ireland Engage with Regulators and Government to Develop Blockchain-Specific Regulation and Policy?

One of the core objectives of Blockchain Ireland  is to inform government policy on legislative and regulatory change.  As such, the make up of our group reflects this objective with participation by government representatives. Through our ongoing work, we will continue to engage with policymakers to help inform them as their views evolve on the appropriate regulatory and tax framework for blockchain, crypto and Web3-related activities.

 

Will Blockchain Ireland Serve as an Incubator for Blockchain, Crypto and Web3-related Businesses?

While our participants include those that can help incubate and accelerate blockchain-related businesses in Ireland, Blockchain Ireland is more akin to an industry body rather than a commercial advisor.

 

How Can I Get Involved with Blockchain Ireland?

Should you want to get involved, please send an email to our info at email to find out more.

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