2 min read | 9 months ago

Irish Government Agency Pays Attention to Developing Blockchain Thanks To Foreign Investment


 In The Irish Times news, the local government agency called IDA aims to attract foreign direct investment (FDI). This program facilitates blockchain investment and exploration in the country.


IDA will start this program called “Blockchain Ireland” to disseminate the technology and communicate with international firms which use blockchain technology. Through the project, Ireland will be considered as an international platform for blockchain companies.


The Irish Blockchain Expect Group (IBEG), IDA Ireland, Enterprise Ireland, and a US software-production studio Consensys that was founded by Ethereum (ETH) co-founder Joe Lubin have all gotten involved in this project. 


Ireland has always positioned itself as the centre for technology, and not only through this program. The educational system in Ireland emphasizes the potential development value in blockchain that may influence economic gain and lead an operation between the financial groups and government structures. 


Until now, Ireland has already gained foreign investment with a 12.5 percent corporate interest rate and they create an open environment to explore and develop technologies using blockchain. Ireland also has its own application that contains blockchain technology, which includes AidTech, Arc-Net and Circle.


This year Ireland will become a signatory to the European Blockchain partnership in European Commission. The partnership suggests it will be a “vehicle for cooperation amongst Member States to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide [blockchain] applications across the Digital Single Market for the benefit of the public and private sectors.”



Partz, Helen. Irish Government Agency for Foreign Investment Leads Blockchain Development Initiative. Retrieved June 12, 2018, from Cointelegraph:


Photograph Retrieved from URL:


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