Seven Southern EU States Collaborate to Promote Blockchain Usage

Seven Southern EU States Collaborate to Promote Blockchain Usage

Seven member countries of the European Union have formed an alliance in Brussels aimed at promoting the usage of blockchain technology in order to boost economic development and government services.

The countries from southern Europe signed a joint communiqué on Tuesday, Dec 4, to promote the blockchain adoption in the region with the final goal being the transformation of their economies. The members, comprising of France, Malta, Italy, Spain, Cyprus, Greece, and Portugal, also made a commitment to collaborate on developing the technology so as to be “a leading region in this sector.”

The declaration, which gave the reason behind this development reads in part: “Blockchain can be a game changer in increasing the efficiency and transparency of government services, from education and healthcare to transport and customs. It can further enhance services for citizens, bringing accountability and privacy for the end users.

“This can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information.”

Furthermore, the communiqué delves into the issue of implementing any future regulation in the region, stating, “We believe that any legislation on Distributed Ledger Technologies should take into account the decentralized nature of such technology and should be based on European fundamental principles and technological neutrality. It should also allow innovation and experimentations in order for the public and private sector to better understand the Distributed Ledger Technologies and to develop use-cases.”

Malta’s Parliamentary Secretary for Digital Economy, Innovation and Financial Services, Silvio Schembri, posted on his Twitter account that he is “proud” to see his country take a “leading role” on blockchain adoption in Europe.

Malta, the self-designated “Blockchain Island,” has taken several actions in the year to justify its tag. In June, the country’s parliament passed three blockchain-related and cryptocurrency bills aimed at making the country attractive to promising crypto startups.

It is hoped that this move by the southern European nation will lead to a mass adoption of blockchain technology across Europe. Currently, the EU has several projects that are focused on investigating and experimenting with the technology.

In conclusion
Seven southern European nations have released a joint communiqué detailing their resolve to promote the use of blockchain technology in the region. The rationale behind this action is the belief that the technology could be a “game changer” for the economic bloc. The countries included in the deal are Malta, Cyprus, Spain, Portugal, Greece, Italy, and France.

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