In recent years, the crypto industry has seen an enormous growth, evolving from a niche industry to a major force in the global economy that has the power to influence markets and shape regulations. And one country that has particularly benefited from this progress is Portugal.
Despite being a member of the EU and possessing ample natural resources, Portugal has long been considered a less developed country in Europe. Due to the lack of good wages and favorable business regulations, many young people have been forced to leave the country and seek opportunities in neighboring countries.
However, the advent of blockchain technology and cryptocurrencies has revolutionized the technology and business sectors in Portugal. The emergence of these new forms of currency has made a significant impact on the country, leading to a decrease in unemployment and a newfound sense of ambition among young people.
The advent of blockchain technology and cryptocurrencies has led to a shift in mindset among Portuguese entrepreneurs, who are now recognizing the potential to establish a parallel global economy that operates independently of government oversight.
This mindset is making it easier for companies to weather bear markets and find new opportunities in the industry.
According to a report from the Portuguese government, the number of blockchain and crypto startups in the country has grown by more than 200% over the past two years. And this growth is expected to continue as more and more young people in the country are turning to the crypto industry as a viable career option.
“Portugal has always been known for its sunny beaches and delicious seafood, but now it’s also becoming known as a hub for crypto innovation,” said João Silva, CEO of Masterblox, a Portuguese crypto incubator company. “The possibilities that blockchain technology has opened up for us are endless, and we’re excited to see where this industry takes us in the future.”
The impact of cryptocurrencies and blockchain technology can be seen in many countries, not just Portugal. With the potential for new opportunities and the ability to disrupt traditional systems, blockchain technology is creating a global ripple effect and providing a means for addressing inequality.