The grand aim of the Alliance is to “significantly change” the Czech economy within the next three to five years by using blockchain technology – also known as Distributed Ledger Technology (DLT) - as the initiative plans to accelerate the evolution of blockchain in the country. The Czech Republic is a country - along with neighbouring Slovakia - that can lay claim to many inventions and innovations over the years. At the time, the incubator was to launch a website to support its initiative and aimed to develop, support and fund start-ups using blockchain technology based on the Nxt community platform. A possible obstacle though to the global introduction of blockchain technology is seen as deriving from “insufficient motivation” of all the stakeholders, it was pointed out by the Association. For now, this is a work in progress, even if Blockchain Connect’s aim of “digitization” of Czech society to bring accelerated changes to legislation is a laudable one.

Source: Forbes September 12, 2018 19:52 UTC