7 Southern EU Nations Unite to Take Lead on Blockchain Adoption
Seven EU member states have gathered to encourage the use of block-chain technology to improve government services and economic well-being.
Southern European nations such as France, Italy, Spain, Malta, Cyprus, Portugal and Spain signed a joint declaration Tuesday to encourage blockchain adoption in the region to "transform" their economies. They were even more determined to cooperate in technology development to become "leading areas of this sector".
This declaration was signed on December 4 in Brussels, Belgium.
Blockchain said it could be a "game changer" in improving the efficiency and transparency of government services, from documentation to education and healthcare, transportation and customs. We also provide "end-user accountability and privacy" by improving services for citizens.
"This not only improves e-government services, but also increases transparency and reduces administrative burdens, better customs collection and better access to public information.
The report cites future regulations on the economic bloc as follows:
"We believe that all laws on distributed led technology should take into account the decentralized nature of such technologies and should be based on the fundamental principles of Europe and technology neutrality and that public and private sectors better understand and utilize distributed led technology We need to allow innovation and experimentation to develop the case. "
Silvio Schembri, Parliamentary Secretary for Malta's Digital Economy, Financial Services and Innovation, said Tuesday that Malta, the smallest country in the European Union, has learned that it is "playing a leading role" in the block-chain cooperation I was on Twitter. In June, the National Assembly passed three cryptocurrency and blockchain legislation, and has since attracted a notable cryptographic business for the establishment of its stores.
The European Union has not yet regulated the block-chain technology in the region, but has launched an initiative for technology review and demonstration.
Most recently, at the end of November, the European Commission announced the launch of a new blockchain association with five major banks, including Spain's BBVA. The project aims not only to promote European Union block-chain standards internationally, but also to develop guidelines and protocols for the block-chain industry.
EU flag images via Shutterstock
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