Prague has the highest number of businesses in the world that accept virtual coins

Post date: Aug 12, 2018 3:45:1 PM

Prague has the highest number of businesses in the world that accept virtual coins 

An analysis by the economic magazine Forbes based on the Coinmap data results in an unambiguous conclusion – Prague is the leading city in the world in the Bitcoin field. Prague has the highest number of businesses that accept Bitcoin payment (147 places). Prague is followed by the following 9 cities: Buenos Aires, San Francisco, Madrid, New York, Amsterdam, Bogota, Vancouver, London and Paris.

The ranking is based on the number of businesses that received Bitcoin payment and does not take into account the size of the population. In fact, Europe and North/South America dominated the Forbes list at the expense of Africa, Asia and Australia thanks to limitations on the use of this coin in a number of states such as China, the Gulf States and more. Tel Aviv on the other hand had high intensity Crypto scene.

This may sound like science fiction, but there are already people using the Bitcoin map, such as the "Crypto Nomads" – people who wander from place to place utilizing only the bitcoin. Forbes mentioned that at least one such nomad spent the entire summer of 2017 in Prague primarily due to the ease of Bitcoin use in the city.

The bitcoin is considered to be a popular coin in states in which no stable coin exists. For example, Venezuela is the site of 8% of all bitcoin transactions in the world, in spite of holding a population of only 31.57 million people – less than half a percent of the world population.

However in the Czech Republic in general, and in Prague in particular, the trend is opposite. For example, there is usually a considerable gap in the use of Bitcoin between rural and urban regions, but in the Northern Czech town of Zatec (with a population of only 20,000) there are over 50 businesses that only accept payment in Bitcoin. Another, country, by the way, that goes against this trend is the Netherlands.

Prague is also the home of bitcoin café, the only café in the world to accept payment solely in bitcoin and not via other payment methods. In the same building are also the chief officers of Paralelní Polis – a center for the promotion of alternate currency payments that organizes worldwide conferences in the topic.

The city is also the home of SatoshiLabs, a company in which both specialists and hobbyists in the field of virtual coins operate. The company has been a pioneer of several fields in Bitcoin technology and has developed various associated software. So has the General Bytes Company, which deals in the field of cryptology and is considered to be the second largest company in the world, with its headquarters in Prague.

More about business in Prague.