Dutch Government Invests in a Blockchain Development Campus

Netherlands will the unveiling of a blockchain “campus” in September wherein banks and financial companies will work together for the development of blockchain applications for payments and the wider financial industry.

Willem Vermeend

Willem Vermeend, the Secretary of Finance and Minister of Social Affairs in Netherlands has revealed that the country will open a blockchain-centric campus in early September 2016. Under the single roof, banks, financial and Fintech companies will jointly work toward the development of blockchain applications and solutions, as reported by Dutch publication Volkskrant.

Vermeend will spearhead the effort that will see the establishment of the new campus. The former politician is an active proponent of Fintech innovation and disruption. Notably, he was appointed as the liaison and ambassador for the Fintech sector by the government earlier this year. Vermeend’s job sees him operate as the link between Fintech companies and government regulators, tasked to find solutions for problems faced by technology firms in the financial sector. His role will also see Netherlands endear itself as a Fintech-friendly destination.

The intent behind the new campus will not necessarily mean that the participating banks and companies will choose the same distributed ledger. Instead, the campus is being built to facilitate better information and knowledge sharing between companies and banks researching blockchain technology. The location of the campus has not been revealed yet.

As reported by the publication, Vermeend stated:

There is a lot of creativity in the Netherlands. The problem is that I have spoken to twenty parties who do not know what each other are doing [in blockchain development].

Furthermore, Vermeend revealed that the Dutch Ministry of Finance sees the potential of blockchain in the financial sector to be realized in the coming years.

A Bitcoin and Fintech Destination

Over the past few years, Netherlands been seen as a bitcoin-friendly country with the city of Arnhem, among the largest cities in the country, gaining a reputation as the world’s most bitcoin-friendly city.

The city was home to the first ever bitcoin supermarket in late 2014. Bitcoin enthusiasts took note and soon enough, business was thriving.

More recently, Arnhem saw a local Burger King join over 100 businesses in the city to accept bitcoin as a mode of payment.

Images from Shutterstock and Twitter/Willem Vermeend.

Last modified: July 2, 2020 8:21 PM UTC

July 4, 2016 4:52 PM UTC
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Samburaj Das @sambdas

Samburaj is the Chief Editor of CCN.com, one of the earliest and foremost publications covering blockchain, cryptocurrency, and financial technology news. He has authored over 2,000 articles for CCN.com. Reach him at samburaj@ccn.com. Visit his LinkedIn profile here or his Muck Rack profile here.