Slovenia – the first blockchain start-up country

One of the leading countries with regard to blockchain companies

Tadej Slapnik

Prime Minister Miro Cerar was speaking at the Digital Slovenia 2020 gathering in October when he gave a wide-ranging speech on blockchain technology, stating that the government “wants to position Slovenia as the most recognised blockchain destination in the European Union.” Photo: Nebojša Tejić/STA

By positioning its economy as “Green, Creative, Smart,” the Republic of Slovenia is dedicated to becoming one of the leading countries with regard to the use of blockchain technology, which underlies innovations such as Bitcoin.

Several local blockchain companies have already achieved great success in the development of digital investment platforms, which gives Slovenia an advantage as it aims to become the world’s leading start-up destination for such firms. Blockchain technology can be applied in various contexts to provide secure communication and record-keeping.

It uses distributed ledgers to ensure that data is exchanged properly between different devices, guaranteeing that the value – in the case of so-called  cryptocurrencies – will be transferred safely.

This is one of the key differences of this approach compared with the internet technologies currently used to transfer data. Since it is extremely efficient, the blockchain method can be used as the fundamental technology for business and governmental services, thus giving the economy a greater competitive edge, and so increasing the well-being of the entire society. However, while sitting at the core of various emerging distributed economies, blockchain itself presents many issues for regulators worldwide who are trying to find a legitimate legal context for this revolutionary technology.

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