Prague is the city of bitcoin – one of the first and also the most popular cryptocurrency.
Cryptocurrencies are digital currencies based on advanced security encryption methods – cryptography. Like traditional currencies, cryptocurrencies serve as means of financial transactions, but unlike the traditional ones, they are not subject to central banks control. The most common digital currency is the bitcoin, which was frist registered ten years ago.
In the current ranking by Forbes magazine, Prague ranked first as the city with the highest number of businesses accepting payments in bitcoins. The ranking was compiled and published by Forbes on the basis of data from CoinMap – a global map of 13,000 vendors that accept bitcoins for their goods and services. Prague with 147 of those companies in its map, dominates the TOP 10 global list, leaving large metropolises such as Buenos Aires, San Francisco, New York or London behind. The leadership of the capital, according to the author of the TOP 10 list Alexandra Talty, is followed by other Czech cities, including the example of Žatec with 53 places accepting bitcoins.
The popularity of bitcoin in Prague is also reflected by the fact that the city is, since 2014, the venue of the annual international Blockchain & Bitcoin Conference. Another cryptocurrency – ether and its development platform – Ethereum will be the central topic of the Devcon4 conference, which will bring 3,000 participants to Prague from around the world in autumn 2018.