“Other cities are positioning themselves as locations for blockchain-based financial instruments in a regulatory grey area. Hamburg relies on real strengths: with innovative blockchain applications in sectors such as energy, logistics and industry, real added value is created here in the form of efficiency gains and additional security.” – Michael Westhagemann, Hamburg Senator for Economic Affairs
Blockchain represents a revolution. Experts and researchers are even comparing the invention to that of the Internet. Christopher Nigischer, Co-Founder of the Blockchain Research Lab says:
“The Internet has given us the ability to exchange information on an equal footing very quickly. Blockchain is now taking that forward for the exchange of value and rights: In the future, it could even lead to networked machines trading their goods, for example, electricity or gasoline and data or even property rights on their own.”
The technology that will change everything
Blockchain opens up gigantic potential and opportunities in almost every industry. It allows us to have more data protection, security, transparency, higher transaction speeds and better traceability. The technical structure allows us to move away from centralized structures, democratizing the Data Economy. Overall, blockchain thus offers incredible potential for increasing efficiency and reducing costs and can be used in almost every company and public authority. Hamburg’s companies and public authorities recognized the strength of this innovative technology early on, which is why Hamburg now counts as a blockchain hotspot. But what specifically is being done right in the city to earn this title?
Hamburg start-ups shape our future
With more than 50 blockchain startups, seven universities, regionally based major corporations with their own future technology research departments and other research institutions, Hamburg is at the forefront of future technologies in Europe. The presentation of the business areas of such Hamburg blockchain companies, such as Bloxxter, iteratec, coinIX, Distributed Ledger Consulting and OURZ, makes the broad applicability of blockchain clear.
These are just a few examples of innovative solutions being developed in Hamburg. Moreover, Hamburg is still in the early stages of its blockchain development. The number of startups and the growth of companies is accelerating steadily. Hamburg is making up ground to other blockchain locations and politicians and business associations are proactively supporting this development:
“In Hamburg, we want to create the best conditions for new innovations and technologies. This is especially true for blockchain technology, which increases the innovation potential of numerous economic sectors in logistics, mobility and industry and provides an open society with new applications. The Senate and the Bürgerschaft have recognized: Developments in the context of blockchain technology will have a major impact on the design and implementation of digital business processes, research missions and projects, and e-government solutions, and thus also on social processes. Therefore, I am very happy to welcome and open the Blockchance Europe, Germany’s largest blockchain conference, in Hamburg” – Michael Westhagemann, Hamburg Senator for Economic Affairs
Hamburg – a beauty that has it all
Hamburg has always been a major trading and transshipment hub in Europe thanks to its port. Trade forms the backbone of the city’s prosperity and, at the same time, it already offers great potential for the use of blockchain in the short term. The Hamburg metropolitan region is a first-class business location: a high quality of life, excellent infrastructure, close political and business networking, and a distinctive university landscape form the foundation for dynamic development of the blockchain scene in Hamburg. Hamburg likes to call itself the gateway to the world, and blockchain can reach the whole world from Hamburg.
Our vision for Hamburg
BLOCKCHANCE is firmly rooted in Hamburg. There is an incredible potential hidden in blockchain and other future technologies to make our world a little better. We want to work cooperatively to communicate this potential to people, starting where we are already strong – in Hamburg. With BLOCKCHANCE Europe, we have already established the largest Western European conference and trade fair around blockchain in Hamburg. But we want more: Hamburg should become a beacon for the cooperative further development of technology. Important players from politics, business and society are working on the implementation, thus raising the potential. Hamburg is rising to become a global university location for blockchain technology through top research and teaching, and specialists are coming to the Hanseatic city to work on a better world. It is important for us that Hamburg becomes a global beacon and thus a role model for many other cities and metropolises around the world. The focus is not only on blockchain as a technology but in particular on the way it is used. For us, technology is only as good as its positive impact on the world. That is why Hamburg should be a pioneer in the use of technology with a benefits orientation for the community.
For a better world – the Hanseatic Blockchain Institute
Another example of collaboration between the blockchain scene in Hamburg is the Hanseatic Blockchain Institute, which was founded by entrepreneurs in Hamburg in 2019. The mission of the association is to contribute to the rapid dissemination and sound, efficient and reliable application of blockchain technology through education, information and the promotion of exchange and collaboration. The members aim to promote transparency, fairness and sustainability through the use of blockchain technology. This is to promote individual liberties and self-determination, strengthen innovation in society and the economy, and support cross-border trust and global cooperation. Anyone interested in blockchain can join the association to do their part for the good of humanity.
The city of Hamburg shows initiative
Hamburg’s politicians are also strongly committed to their blockchain scene. Peter Tschentscher, First Mayor of Hamburg and patron of the BLOCKCHANCE conference remarks the following:
“Blockchain is a key technology for networking digital processes. It provides transparency and stability for decentralized data systems, which are becoming increasingly important in the wake of digital globalization. ‘Blockchance Europe 2021’ in Hamburg is one of the most important meetings in the industry and demonstrates the wide range of possible applications in business and society. Hamburg is an important location for the digital economy in Europe and is committed to the development of blockchain technology, which we want to use for digitalization and innovation.”
Hamburg uses its locational advantages in a very targeted manner. For example, there is HANSEBLOC, a publicly funded project for testing and developing blockchain solutions in the logistics sector. Here, blockchain technology is being examined for the potential for the digitization of freight documents. Thus use cases specifically tailored to Hamburg companies are being developed.
The political, scientific and business communities in the Hanseatic city are moving together towards a better future and promoting the use of Blockchain in line with demand. Coupled with the already existing dynamic scene, Hamburg is a blockchain hotspot.