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Seven EU Countries Come Together to Officially Collaborate on Blockchain Adoption
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In a declaration signed in the heart of the EU, Brussels, seven European Union members have agreed to focus their efforts on blockchain technology and its use-cases. The goal is to better government services and boost economic growth.
France, Italy, Spain, Malta, Cyprus, Portugal, and Spain all came together on December 4th to agree on one thing: blockchain is intrinsically linked to the future of Europe.
In a declaration signed, the participating nations agreed that blockchain could make government services more transparent, and fundamentally revolutionize almost all aspects of society for the better, from healthcare to education.
Blockchain will lead to the “the enhancement of e-government services” and increased “transparency, reduced administrative burdens, better customs collection and better access to public information,” the declaration read.
“Allow for Experimentation”
The nations were in agreement that the technology behind the cryptocurrency space — Distributed Ledger Technologies — should be allowed to flourish in both the public and the private sector. Blockchain was affirmed as being complementary to European fundamental principles and its belief in technological neutrality.
Malta, the smallest nation of the seven, has recently become known as a hub of blockchain-related development. In light of the declaration, Silvio Schembri, Malta’s secretary for digital economy, tweeted that this distinction was a source of “pride” for the small country. Malta has been a leader in the security token space for some time now, with some of the most crypto-friendly regulations anywhere in the world.
Some other blockchain-friendly countries were not in signatories of the declaration, however. Estonia, for example, is another EU member known for its very innovation blockchain-based industry but was notably absent on the declaration.
What do you think of the declaration? Is the EU positioning itself as a leader of blockchain-based development or is it all just formalities? Let us know in the comments below.
Image courtesy of Shutterstock.
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Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
