What will be the world capital of Web3?

· News

Wine In Block Team 05th April 2023

Web3 is a relatively new concept, or at least one that has exploded in popularity in recent months.

This phenomenon refers to an evolution of the Web towards a more decentralised, blockchain-based version. So it's hard to talk about capital in a decentralised system...! Web3 is continuing to develop, but the predominant geographical areas are already taking shape.

Geography of Web3 :

  • The United States has a strong presence in the ecosystem of blockchain and ecosystem, with many companies and start-ups active in this field. Of course, Silicon Valley is a major centre in the US for blockchain and Web3 innovation.
  •     China is of course also a major player in blockchain and cryptocurrencies, with companies such as Bitmain and Canaan Creative. The Chinese government is also investing heavily in blockchain and related technologies.
  •     Japan was one of the first countries to regulate crypto-currencies, which has created a favourable environment. In addition, there is a great deal of interest in blockchain and Web3 in the Japanese start-up community.
  •     Singapore is another important blockchain and cryptocurrency hub in Asia, with a strong presence of start-ups and investors. The Singapore government has also adopted regulations favourable to innovation in this field.
  • In Europe, France is perhaps the country with the strongest presence in the blockchain and crypto-currency ecosystem. Why? Firstly, with a large number of companies and start-ups active in this field, France already has a dense economic network and many key companies in the blockchain ecosystem are choosing France to set up their European headquarters (Binance, Circle, Crypto.com...and perhaps soon Coinbase). Secondly, major events such as the Paris Blockchain Week Summit, NFT Paris and NFT Biarritz are organised here. Finally, France also adopted pro-innovation regulations in this area early on, making it an attractive place for entrepreneurs and investors in blockchain and crypto-currencies.

That said, of course, nothing is certain yet and there are other European countries, such as Switzerland, Germany and Estonia, or Asian countries such as South Korea, which also have a strong presence in the blockchain and Web3 ecosystem. Each of these countries has its own strengths and weaknesses, and the situation can change rapidly in this area, as we can well imagine.

Obviously, we here at Wine In Block are betting that France will be the epicentre of blockchain and Web3 in wines and spirits!