Why is Jacksonville, FL a Cryptocurrency Hotspot?

Jacksonville, FL has become a cryptocurrency hotspot in recent years. Several key moments and events have strengthened the city’s attachment to digital currencies.

Jax made history with Bitcoin back in 2010. It was the site of the very first Bitcoin transaction, which is commemorated on a plaque at Papa John’s on Atlantic Boulevard. It was then that a computer programmer named Laszlo Hanyecz decided that he wanted to buy pizza with Bitcoin. Action News Jax explains how a UK resident sent pizza to his home for 10,000 bitcoins, which in today’s climate are worth around $ 100 million. This transaction on May 22, 2010 made history and set the benchmark for Jax’s rich heritage in online currency.

As of December 2017, Jax was the most active city for online currency in the entire United States, valued at $ 31,468 per person using cryptocurrency, almost double the second most active city at the time. That is done, time has moved on, but it clearly shows that the city is a hotspot for cryptocurrency. Jax is also a hotspot for Bitcoin ATMs. Described by First Coast News as creating a wild west in America today. There are around 45 in the city, out of a total of only 8,000 in the entire country.

While there are pros and cons to using Bitcoin, there is little doubt that its prevalent use is helping to attract tech companies and startups to the region. Fidelity National Information Services Inc. is one of four Fortune 500 company based in Jax and they recently announced their blockchain-focused Fraud Freedom project. It’s a new chargeback compensation service designed for cryptocurrency brokers and exchanges, which further fuels the notion that Jax is a hotspot for technology. With illustrious business The temptation for tech startups is already great in the city, and Florida Funders affiliate with Florida Polytechnic university helps to drive on business and entrepreneurship within the sector. The initiative aims to discover new talents and to finance their development businessand start early-stage technology companies in the region. The rich heritage in cryptocurrency helps attract technology companies focused on this sector, as does the ease with which startups can set up and get started business Life.

Starting a new company in Florida is straightforward and particularly attractive for technology-driven projects. A guide to Establishment of an LLC in Florida at ZenBusiness describes minimum requirements such as naming your registered agent and submitting articles from the organization. With little red tape to negotiate before they can start trading, setting up a new one has never been easier business in Florida and Jax. With the funding and a lot of competent help, the state and especially Jax are extremely attractive for exciting young talents in the industry.

This has led big data companies like Intuceo and Analytics Partners, Inc. to settle in the region and take advantage of Jax’s forward-thinking and progressive nature in technology. Given the existing initiatives and the city’s reputation as a blockchain hub, this bodes well for future startups in the vast Jax area.

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