From taxes to electricity, blockchain adoption is growing in Austria

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The air blows fresh in Austria bringing new blockchain endeavors. Government institutions and private companies welcome the enormous possibilities of crypto adoption.

the Austrian Public Service Blockchain . Active participants in the APSB — i.e., operators of their own blockchain nodes — include the Austrian Economic Chamber, City of Vienna, Federal Computing Center, and Vienna University of Economics and Business Administration. One participant, Kontrollbank, is still in the set-up phase.

The first pilot project of the APSB and BIA involves data certification and notarization. Here, digital fingerprints of files are placed on the blockchain to be able to prove the unaltered nature of the data at a later point in time. Areas of application include, but are not limited to, crypto trading, mining, and custody and payment services, as well as financing via initial coin offerings, initial token offerings and security token offerings.

 

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