Madeira Islands Explore Blockchain and Emerging Tech to Diversify Economy Beyond Tourism
• Madeira archipelago exploring emerging technologies like blockchain to boost economic growth and shift from tourism to tech • Nearly 30% of companies in Madeira's tax-beneficial free trade zone are emerging tech, including blockchain • Companies like Yacooba Labs using blockchain for ticketing solutions to address issues like overpriced secondary markets • Madeira working on innovative payment network to connect merchants and simplify currency exchange for tourists • Region using itself as a "laboratory" to test new technologies like blockchain payment platforms before implementing in rest of Portugal