Is the Fintech industry migrating from London to other cities after Brexit?

After Brexit, there were expectations that the Fintech industry and the finance industry might move away from London. As a result, many cities were trying to watch the various companies which had headquarters in London. Some of these cities included Frankfurt, Luxembourg, Dublin, Brussels. They were trying to move these companies from London to their own area.

They also wanted to be called the hub of the Fintech and the finance industry. As a result, they were consistently pitching for the migration of the finance companies. The main advantage of being called the hub of the finance industry is that the other industries would have followed suit as well. Also, there are a few cities in Europe which already have attracted other industries. These include Milan which has attracted the fashion industry, Basle which is the pharmaceutical industry and Antwerp which has the diamond industry. Similarly, in America, Silicon Valley is popular for tech and Chicago is popular for the Fintech space.

Consistent question:

The question which i Is the Fintech industry migrating from London to other cities after Brexit?

After Brexit, there were expectations that the Fintech industry and the finance industry might move away from London. As a result, many cities were trying to watch the various companies which had headquarters in London. Some of these cities included Frankfurt, Luxembourg, Dublin, Brussels. They were trying to move these companies from London to their own area.

They also wanted to be called the hub of the Fintech and the finance industry. As a result, they were consistently pitching for the migration of the finance companies. The main advantage of being called the hub of the finance industry is that the other industries would have followed suit as well. Also, there are a few cities in Europe which already have attracted other industries. These include Milan which has attracted the fashion industry, Basle which is the pharmaceutical industry and Antwerp which has the diamond industry. Similarly, in America, Silicon Valley is popular for tech and Chicago is popular for the Fintech space.

Consistent question:

The question which is in the mind of many authorities, as well as companies, is whether new industries like blockchain will need any particular place to flourish.

Will cryptocurrency travel?

The sole aim of cryptocurrency is to ensure that world is considered as a global place. As a result, it does not matter whether the cryptocurrency related companies are based in Dublin or Dubai or any other city around the world. Moreover, the talent can be attracted to any city. This has given rise to the question what will attract the talent to different regions.

According to Brian Tang, who is the founder of Asia Capital Markets Institute, the only thing which the cryptocurrency industry needs is affordable electricity. As long as, consistent and affordable electricity is provided, the cryptocurrency industry can work in any region. This is also just limited to the crypto mining industry. The ICO industry and the exchanges can work from anywhere. Blockchain, however, will need proper mining. When it comes to talent, the number of people who are looking to make a career in the blockchain field are immense. As a result, projects are available everywhere. Moreover, universities are also making attempts to educate the students in blockchain technology. As a result, talent is available all over the world.

According to him, the younger generation does not mind migration as well for better employment opportunities. As a result, they can head to different regions quite easily for employment.

Thus, even though the Fintech industry might migrate but when it comes to cryptocurrency and blockchain industry, there are very less chances that they will actually migrate to certain parts of the world.