Amsterdam Might Become Bitcoin Capital if Things Go Right

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Amsterdam Might Become Bitcoin Capital if Things Go Right

Although several other places are competing with Amsterdam to emerge as the Bitcoin Capital of the World, the city is likely to become the global capital if things go as they were planned by some Bitcoin startup companies. The team behind the Dutch startup BitStraat has put their heads together with BitPay to put 100 dedicated Bitcoin payment terminals in the city.

According to the BitStraat project that was founded by Amsterdam residents Max Barendregt and Kasper Keunen, they are seeking to serve as a middleman between Bitcoin merchants and BitPay, one of the largest Bitcoin payment processing companies in the world. Nonetheless, the city has already emerged as a leading center for Bitcoin activities in Europe.

Barendregt admits that Amsterdam seems to be a perfect place for a project of this type as according to him it only makes sense to establish Amsterdam as the global Bitcoin capital. He claims that the Dutch capital has a history and a name for being technologically ambitious as well as open minded and forward thinking, in general.

Nonetheless, a currency for the people that is free from centralized control would be a natural fit and according to Barendregt his group will enable visitors to the city to pay for all of their expenses in Bitcoin, including their stay in a hostel, their trips to museums and their dinner at local restaurants.

Vibrant Bitcoin Community in the City Helping Out the Bitcoiners

Though the project is not old as it was started in May of 2014 when the founders met with the Bitcoin Foundation at Bitcoin2014 in Amsterdam, the work it has taken into consideration is extremely ambitious and expected to bring the results in the next couple of years. Not just the local businesses but even the Bitcoin Foundation is impressed with the efforts.

For instance, the Bitcoin Foundation had opened its European base in April, and Moe Levin, BitPay’s director of European business development, was impressed by the Amsterdam initiative. He admitted that the community made them so their philosophy will remain simple and that is that the community must be put first.

According to Moe Levin supporting any local project that increases adoption, adds awareness, and ultimately drives Bitcoin from speculation to mainstream will be the major feature of the efforts being put by the community. Nonetheless, as BitStraat and BitPay hope to reach 100 participants by next spring, the effort will get the momentum required.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com