On Wednesday, July 8th, eleven representatives gathered to discuss Seattle’s future in the FinTech industry and to build upon international business relations. The meeting was organized by the International Trade and Business Development Office of the Washington State Department of Commerce.
In attendance were business and government leaders that represented interests from three continents. The general theme for the evening revolved around the financial technology sector, but the majority of the conversation was about Bitcoin and the block chain protocol.
It was recognized that Seattle, as a global technology leader, has tremendous potential to become a powerhouse of the FinTech Industry. Standing in the way are a number of challenges that must be overcome. However, these challenges are also faced by everyone else innovating in the cryptocurrency space. Some of the challenges that were mentioned include:
- difficult access for cryptocurrency companies to essential business services like banking and insurance
- highly complex and onerous government regulations that were created with big business in mind, not startups
- little to no investment in cryptocurrency startups due to a lack of knowledge of the space
- a general lack of knowledge in the general populace about Bitcoin and cryptocurrency
The meeting was far too short to fully address these challenges, but every great movement needs a beginning, and this was certainly achieved. New introductions were made, old relationships strengthened, and a conversation was started that will help to shape Seattle’s economic future.
Companies and organizations with representatives in attendence:
- Alacer Technologies
- CoinBeyond
- Coinme
- Export Finance Assistance Center of WA
- Pacific Northwest Advisors
- Perkins Coie
- Remitly
- Soares & Avila Abogados
- United Kingdom Government Office, Seattle
- UK Trade & Investment, Los Angeles
- Washington State Department of Commerce
If you would like to become involved, please send us a message using our Contact Form