A few years ago, the start-up environment in France had been dull and gloomy. But the entrepreneur reports that this has rapidly turned around in a few short years thanks to the rise in crypto technology and blockchains.
There’s no doubt France isn’t viewed as the major hub for innovation surrounding crypto and blockchain technology in Europe. However, it seems to be one of the most rapidly growing ones.
Shifting Mentality
In the past, entrepreneurs in France have carried the burden of the society’s harsher views on failure and success. While in the US, failure is viewed more as a stepping stone, French society traditionally associates failure with shame and guilt. This creates a tougher environment for start-ups and bold new initiatives in the nation.
Failure could potentially end a career in the country and this makes investors more reluctant to partner with start-up businesses there as well. However, this mentality has been greatly changing over time. The perception of success and failure have been shifting, allowing more start-ups and confident new business ventures.
Some of this could be attributed to the new laws that President Macron has instituted to instil a more rejuvenating business spirit.
Another major change could be attributed to the French government refining its views on blockchains and cryptocurrencies. It foresees a future that invariably needs the participation of blockchain technology for handling and uplifting daily life. Since then, France has become one of the most progressive countries relating to crypto technology, leading the charge to embrace it.
The French government is currently working on new legislation for initial coin offerings or ICOs. It has also cut down the tax values for cryptocurrencies. Earlier this month, a leading blockchain start-up in Europe known as Chain Accelerator had initiated operations in Paris.
The post Blockchain Strengthens Business Spirit In France appeared first on OWLT Market.
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